nVent Electric PLC $NVT Shares Purchased by Cornerstone Planning Group LLC

Cornerstone Planning Group LLC raised its stake in nVent Electric PLC (NYSE:NVT) by 46,034.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,449 shares of the company’s stock after acquiring an additional 30,383 shares during the quarter. Cornerstone Planning Group LLC’s holdings in nVent Electric were worth $3,003,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NVT. Global Trust Asset Management LLC purchased a new stake in shares of nVent Electric during the 3rd quarter valued at about $30,000. Root Financial Partners LLC purchased a new position in nVent Electric in the third quarter valued at about $31,000. True Wealth Design LLC grew its stake in nVent Electric by 1,202.9% during the 2nd quarter. True Wealth Design LLC now owns 443 shares of the company’s stock valued at $32,000 after purchasing an additional 409 shares in the last quarter. Manchester Capital Management LLC increased its holdings in nVent Electric by 222.2% during the 2nd quarter. Manchester Capital Management LLC now owns 435 shares of the company’s stock worth $32,000 after purchasing an additional 300 shares during the last quarter. Finally, Headlands Technologies LLC raised its position in shares of nVent Electric by 522.9% in the 2nd quarter. Headlands Technologies LLC now owns 517 shares of the company’s stock valued at $38,000 after purchasing an additional 434 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Insider Activity

In other nVent Electric news, CAO Randolph A. Wacker sold 5,000 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $110.08, for a total transaction of $550,400.00. Following the completion of the transaction, the chief accounting officer directly owned 26,400 shares of the company’s stock, valued at $2,906,112. The trade was a 15.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Greg Scheu sold 5,591 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $104.04, for a total transaction of $581,687.64. Following the completion of the sale, the director owned 14,348 shares in the company, valued at $1,492,765.92. The trade was a 28.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 130,285 shares of company stock valued at $14,621,124. 2.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NVT shares. Wall Street Zen raised shares of nVent Electric from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 18th. Weiss Ratings reissued a “buy (b-)” rating on shares of nVent Electric in a report on Monday, December 29th. Citigroup upped their price objective on nVent Electric from $114.00 to $131.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $136.00 target price on shares of nVent Electric in a research report on Thursday, January 15th. Finally, KeyCorp upped their price target on nVent Electric from $103.00 to $114.00 and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Nine analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $123.63.

nVent Electric Stock Up 3.1%

Shares of nVent Electric stock opened at $115.75 on Tuesday. The stock has a market capitalization of $18.68 billion, a price-to-earnings ratio of 31.89, a PEG ratio of 1.20 and a beta of 1.33. nVent Electric PLC has a twelve month low of $41.71 and a twelve month high of $117.52. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.44. The business’s 50 day simple moving average is $106.69 and its 200-day simple moving average is $99.47.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Friday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. nVent Electric had a return on equity of 14.29% and a net margin of 16.83%.The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the business earned $0.63 EPS. The firm’s revenue was up 34.8% on a year-over-year basis. Equities research analysts forecast that nVent Electric PLC will post 3.04 earnings per share for the current year.

nVent Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 23rd will be issued a $0.21 dividend. This is a boost from nVent Electric’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, January 23rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.7%. nVent Electric’s dividend payout ratio is 23.14%.

About nVent Electric

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.