nVent Electric plc (NYSE:NVT) Shares Bought by Focus Partners Wealth

Focus Partners Wealth increased its holdings in shares of nVent Electric plc (NYSE:NVT) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,757 shares of the company’s stock after buying an additional 2,611 shares during the quarter. Focus Partners Wealth owned 0.07% of nVent Electric worth $8,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Crews Bank & Trust purchased a new position in nVent Electric during the 4th quarter worth $26,000. Tsfg LLC purchased a new position in nVent Electric during the 4th quarter worth $51,000. Raleigh Capital Management Inc. grew its stake in nVent Electric by 547.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock worth $51,000 after buying an additional 635 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in nVent Electric by 26.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock worth $53,000 after buying an additional 162 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in nVent Electric by 243.5% during the 4th quarter. Blue Trust Inc. now owns 869 shares of the company’s stock worth $61,000 after buying an additional 616 shares during the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of nVent Electric stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $61.35, for a total value of $247,915.35. Following the completion of the transaction, the executive vice president now owns 32,665 shares of the company’s stock, valued at approximately $2,003,997.75. The trade was a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is owned by corporate insiders.

nVent Electric Trading Up 2.4%

Shares of nVent Electric stock opened at $68.16 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The firm has a fifty day moving average price of $54.32 and a 200 day moving average price of $64.78. nVent Electric plc has a 1 year low of $41.71 and a 1 year high of $86.57. The stock has a market cap of $11.22 billion, a PE ratio of 34.78, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24.

nVent Electric (NYSE:NVT) last issued its earnings results on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. The firm had revenue of $809.30 million during the quarter, compared to analysts’ expectations of $790.74 million. During the same quarter last year, the company posted $0.78 earnings per share. The firm’s revenue was up 10.5% compared to the same quarter last year. Equities research analysts predict that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 25th were issued a $0.20 dividend. The ex-dividend date was Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a yield of 1.17%. nVent Electric’s payout ratio is 22.86%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Barclays raised their price target 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 decreased their price target on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Seaport Res Ptn raised shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a report on Friday, March 21st. Citigroup decreased their price target on shares of nVent Electric from $85.00 to $59.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, KeyCorp raised their price target on shares of nVent Electric from $60.00 to $72.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $70.00.

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.