Waverly Advisors LLC Purchases 828 Shares of nVent Electric plc (NYSE:NVT)

Waverly Advisors LLC increased its position in nVent Electric plc (NYSE:NVT) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,884 shares of the company’s stock after acquiring an additional 828 shares during the quarter. Waverly Advisors LLC’s holdings in nVent Electric were worth $5,377,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of NVT. HB Wealth Management LLC bought a new position in nVent Electric in the 4th quarter worth $272,000. Diversify Wealth Management LLC raised its holdings in nVent Electric by 39.2% in the 4th quarter. Diversify Wealth Management LLC now owns 9,220 shares of the company’s stock worth $635,000 after acquiring an additional 2,596 shares during the period. UMB Bank n.a. raised its holdings in nVent Electric by 269.6% in the 4th quarter. UMB Bank n.a. now owns 1,545 shares of the company’s stock worth $105,000 after acquiring an additional 1,127 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in nVent Electric by 26.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock worth $53,000 after acquiring an additional 162 shares during the period. Finally, Mountain Pacific Investment Advisers LLC raised its holdings in nVent Electric by 14.9% in the 4th quarter. Mountain Pacific Investment Advisers LLC now owns 192,050 shares of the company’s stock worth $13,090,000 after acquiring an additional 24,900 shares during the period. Institutional investors own 90.05% of the company’s stock.

Analyst Ratings Changes

NVT has been the topic of several recent analyst reports. Citigroup dropped their target price on shares of nVent Electric from $85.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a report on Friday, March 21st. Barclays boosted their price objective on shares of nVent Electric from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. The Goldman Sachs Group dropped their price objective on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Finally, Royal Bank of Canada boosted their price objective on shares of nVent Electric from $73.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $70.00.

Insider Activity at nVent Electric

In related news, EVP Lynnette R. Heath sold 4,041 shares of the company’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $61.35, for a total value of $247,915.35. Following the sale, the executive vice president now owns 32,665 shares of the company’s stock, valued at $2,003,997.75. The trade was a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.80% of the stock is currently owned by insiders.

nVent Electric Stock Performance

NYSE NVT opened at $66.00 on Wednesday. The stock has a market cap of $10.87 billion, a P/E ratio of 33.67, a PEG ratio of 1.48 and a beta of 1.24. The company’s 50-day simple moving average is $55.56 and its 200 day simple moving average is $64.56. nVent Electric plc has a twelve month low of $41.71 and a twelve month high of $86.57. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65.

nVent Electric (NYSE:NVT) last posted its earnings results on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The business had revenue of $809.30 million for the quarter, compared to analysts’ expectations of $790.74 million. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 earnings per share. As a group, research analysts forecast that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be paid a $0.20 dividend. The ex-dividend date is Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a yield of 1.21%. nVent Electric’s payout ratio is currently 22.86%.

nVent Electric Profile

nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management.