Brooklyn Investment Group Acquires Shares of 625 nVent Electric plc (NYSE:NVT)

Brooklyn Investment Group acquired a new stake in nVent Electric plc (NYSE:NVT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 625 shares of the company’s stock, valued at approximately $44,000.

Other large investors also recently bought and sold shares of the company. Larson Financial Group LLC boosted its stake in nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares in the last quarter. UMB Bank n.a. boosted its stake in nVent Electric by 280.0% in the third quarter. UMB Bank n.a. now owns 418 shares of the company’s stock valued at $29,000 after acquiring an additional 308 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in nVent Electric in the third quarter valued at $29,000. ORG Partners LLC acquired a new stake in shares of nVent Electric during the second quarter worth about $31,000. Finally, First Foundation Advisors acquired a new stake in shares of nVent Electric during the second quarter worth about $34,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, CAO Randolph A. Wacker sold 8,022 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total value of $608,629.14. Following the completion of the transaction, the chief accounting officer now directly owns 25,993 shares of the company’s stock, valued at approximately $1,972,088.91. This trade represents a 23.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jerry W. Burris sold 6,558 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the transaction, the director now directly owns 45,040 shares of the company’s stock, valued at approximately $3,603,200. This trade represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 96,382 shares of company stock valued at $7,365,956. Corporate insiders own 2.50% of the company’s stock.

nVent Electric Price Performance

Shares of NYSE:NVT opened at $78.31 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The company has a market cap of $12.91 billion, a P/E ratio of 22.96, a PEG ratio of 3.94 and a beta of 1.26. nVent Electric plc has a 52 week low of $52.70 and a 52 week high of $86.57. The company has a 50-day moving average price of $73.57 and a 200 day moving average price of $73.21.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The firm had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. nVent Electric’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 EPS. Research analysts predict that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a $0.19 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a yield of 0.97%. nVent Electric’s dividend payout ratio (DPR) is presently 22.29%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NVT shares. KeyCorp increased their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Barclays decreased their target price on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada decreased their target price on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $85.33.

nVent Electric Company 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.