Marks Group Wealth Management Inc Purchases 19,692 Shares of nVent Electric PLC (NYSE:NVT)

Marks Group Wealth Management Inc raised its position in shares of nVent Electric PLC (NYSE:NVT) by 15.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 147,468 shares of the company’s stock after acquiring an additional 19,692 shares during the quarter. Marks Group Wealth Management Inc owned about 0.09% of nVent Electric worth $7,730,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of NVT. Capital A Wealth Management LLC bought a new stake in nVent Electric during the fourth quarter valued at $27,000. Whipplewood Advisors LLC boosted its position in nVent Electric by 467.3% during the first quarter. Whipplewood Advisors LLC now owns 607 shares of the company’s stock valued at $32,000 after acquiring an additional 500 shares during the last quarter. Hughes Financial Services LLC bought a new stake in nVent Electric during the first quarter valued at $36,000. Park Square Financial Group LLC bought a new stake in nVent Electric during the fourth quarter valued at $38,000. Finally, First Horizon Advisors Inc. boosted its position in nVent Electric by 58.0% during the first quarter. First Horizon Advisors Inc. now owns 817 shares of the company’s stock valued at $43,000 after acquiring an additional 300 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the company’s stock in a transaction dated 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 sale, 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.

nVent Electric Trading Up 0.4%

NVT opened at $74.95 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.87 and a quick ratio of 2.42. nVent Electric PLC has a fifty-two week low of $41.71 and a fifty-two week high of $81.55. The firm has a market capitalization of $12.34 billion, a PE ratio of 21.41, a P/E/G ratio of 1.49 and a beta of 1.31. The company’s 50-day moving average is $68.56 and its 200 day moving average is $63.24.

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

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be issued a $0.20 dividend. The ex-dividend date is Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.07%. nVent Electric’s dividend payout ratio is presently 22.86%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NVT shares. CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Monday, March 17th. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a report on Friday, March 21st. Royal Bank Of Canada upped their price objective on shares of nVent Electric from $73.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, May 5th. Barclays upped their price objective on shares of nVent Electric from $74.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Wall Street Zen upgraded shares of nVent Electric from a “hold” rating to a “buy” rating in a report on Saturday. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $73.83.

About nVent Electric

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.