PFG Advisors lifted its holdings in shares of nVent Electric PLC (NYSE:NVT – Free Report) by 13.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 11,350 shares of the company’s stock after purchasing an additional 1,339 shares during the quarter. PFG Advisors’ holdings in nVent Electric were worth $831,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. SVB Wealth LLC acquired a new position in nVent Electric in the first quarter valued at approximately $25,000. Trust Co. of Vermont raised its position in shares of nVent Electric by 57.8% during the 2nd quarter. Trust Co. of Vermont now owns 434 shares of the company’s stock worth $32,000 after purchasing an additional 159 shares during the period. True Wealth Design LLC lifted its holdings in shares of nVent Electric by 1,202.9% in the 2nd quarter. True Wealth Design LLC now owns 443 shares of the company’s stock worth $32,000 after purchasing an additional 409 shares during the last quarter. Hughes Financial Services LLC acquired a new position in nVent Electric during the 1st quarter valued at approximately $36,000. Finally, American National Bank & Trust acquired a new position in nVent Electric during the 2nd quarter valued at approximately $46,000. Institutional investors and hedge funds own 90.05% of the company’s stock.
nVent Electric Stock Performance
NVT stock opened at $112.31 on Tuesday. The company has a 50-day simple moving average of $99.77 and a 200 day simple moving average of $83.11. The company has a market capitalization of $18.12 billion, a P/E ratio of 30.94, a PEG ratio of 1.50 and a beta of 1.40. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.44. nVent Electric PLC has a fifty-two week low of $41.71 and a fifty-two week high of $117.52.
nVent Electric Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Friday, October 17th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, October 17th. This represents a $0.80 annualized dividend and a yield of 0.7%. nVent Electric’s payout ratio is presently 22.04%.
Insider Transactions at nVent Electric
In other nVent Electric news, CEO Beth Wozniak sold 42,331 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $89.21, for a total transaction of $3,776,348.51. Following the completion of the transaction, the chief executive officer directly owned 49,196 shares of the company’s stock, valued at approximately $4,388,775.16. This trade represents a 46.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sara E. Zawoyski sold 115,557 shares of nVent Electric stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $112.78, for a total value of $13,032,518.46. Following the transaction, the insider owned 66,680 shares in the company, valued at approximately $7,520,170.40. This trade represents a 63.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 195,831 shares of company stock valued at $21,083,144. 2.50% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the company. Wall Street Zen raised nVent Electric from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Barclays restated an “overweight” rating and set a $130.00 price target on shares of nVent Electric in a research report on Monday, November 3rd. The Goldman Sachs Group lifted their price objective on shares of nVent Electric from $111.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Roth Capital reissued a “buy” rating and set a $130.00 target price (up from $115.00) on shares of nVent Electric in a research note on Monday, November 3rd. Finally, Citigroup raised their price target on shares of nVent Electric from $114.00 to $131.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $121.14.
View Our Latest Stock Report on nVent Electric
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.
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