HM Payson & Co. Acquires 6,665 Shares of nVent Electric PLC (NYSE:NVT)

HM Payson & Co. grew its holdings in nVent Electric PLC (NYSE:NVT) by 1.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 614,126 shares of the company’s stock after purchasing an additional 6,665 shares during the period. HM Payson & Co. owned approximately 0.37% of nVent Electric worth $32,193,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC grew its holdings in shares of nVent Electric by 381.0% during the first quarter. Farther Finance Advisors LLC now owns 1,996 shares of the company’s stock worth $106,000 after purchasing an additional 1,581 shares during the last quarter. LPL Financial LLC grew its holdings in shares of nVent Electric by 12.6% during the fourth quarter. LPL Financial LLC now owns 140,043 shares of the company’s stock worth $9,545,000 after purchasing an additional 15,685 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of nVent Electric by 74.3% during the first quarter. GAMMA Investing LLC now owns 3,476 shares of the company’s stock worth $182,000 after purchasing an additional 1,482 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of nVent Electric by 6.2% during the first quarter. Janney Montgomery Scott LLC now owns 27,252 shares of the company’s stock worth $1,429,000 after purchasing an additional 1,591 shares during the last quarter. Finally, Haverford Trust Co grew its holdings in shares of nVent Electric by 0.8% during the fourth quarter. Haverford Trust Co now owns 553,146 shares of the company’s stock worth $37,702,000 after purchasing an additional 4,538 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Lynnette R. Heath sold 4,041 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total transaction of $247,915.35. Following the transaction, the executive vice president directly owned 32,665 shares of the company’s stock, valued at approximately $2,003,997.75. This represents a 11.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.80% of the company’s stock.

nVent Electric Stock Up 0.7%

Shares of NYSE:NVT opened at $73.95 on Friday. The company has a market capitalization of $12.18 billion, a price-to-earnings ratio of 21.13, a P/E/G ratio of 1.49 and a beta of 1.31. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.87 and a quick ratio of 2.42. The business’s 50-day moving average is $66.70 and its 200-day moving average is $63.11. nVent Electric PLC has a 1 year low of $41.71 and a 1 year high of $81.55.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $809.30 million for the quarter, compared to the consensus estimate of $790.74 million. nVent Electric had a return on equity of 13.54% and a net margin of 18.22%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.78 EPS. Equities research analysts predict that nVent Electric PLC will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Friday, July 18th. nVent Electric’s dividend payout ratio (DPR) is currently 22.86%.

Analyst Upgrades and Downgrades

NVT has been the topic of several research reports. Citigroup reduced their price target on nVent Electric from $85.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Barclays boosted their price target on nVent Electric from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Monday, June 9th. The Goldman Sachs Group reduced their price target on nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. KeyCorp upped their price target on nVent Electric from $60.00 to $72.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Finally, Seaport Res Ptn upgraded nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $70.67.

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.