Raymond James Financial Services Advisors Inc. Grows Position in nVent Electric plc (NYSE:NVT)

Raymond James Financial Services Advisors Inc. raised its holdings in shares of nVent Electric plc (NYSE:NVT) by 6.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,800 shares of the company’s stock after buying an additional 454 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in nVent Electric were worth $461,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HM Payson & Co. acquired a new position in nVent Electric during the third quarter valued at approximately $26,000. Arlington Trust Co LLC acquired a new position in nVent Electric during the third quarter valued at approximately $30,000. Coppell Advisory Solutions LLC acquired a new position in nVent Electric during the second quarter valued at approximately $31,000. Pacific Center for Financial Services acquired a new position in nVent Electric during the third quarter valued at approximately $32,000. Finally, Baystate Wealth Management LLC acquired a new position in nVent Electric during the third quarter valued at approximately $33,000. 90.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Royal Bank of Canada lifted their price target on shares of nVent Electric from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Citigroup boosted their target price on shares of nVent Electric from $71.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of nVent Electric in a research report on Monday, March 11th. They set a “buy” rating and a $83.00 target price on the stock. Barclays boosted their target price on shares of nVent Electric from $74.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Finally, The Goldman Sachs Group boosted their target price on shares of nVent Electric from $69.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.60.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, insider Joseph A. Ruzynski sold 2,500 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $64.23, for a total transaction of $160,575.00. Following the transaction, the insider now directly owns 36,013 shares in the company, valued at approximately $2,313,114.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other nVent Electric news, insider Michael B. Faulconer sold 10,961 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $67.33, for a total transaction of $738,004.13. Following the sale, the insider now directly owns 33,109 shares of the company’s stock, valued at $2,229,228.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph A. Ruzynski sold 2,500 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $64.23, for a total transaction of $160,575.00. Following the sale, the insider now directly owns 36,013 shares in the company, valued at $2,313,114.99. The disclosure for this sale can be found here. Insiders have sold 400,252 shares of company stock worth $25,713,777 in the last ninety days. 2.50% of the stock is owned by insiders.

nVent Electric Trading Up 0.1 %

NYSE NVT opened at $71.64 on Friday. nVent Electric plc has a 12 month low of $40.19 and a 12 month high of $78.98. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.22. The company has a market capitalization of $11.89 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 1.56 and a beta of 1.35. The company’s fifty day moving average price is $70.48 and its two-hundred day moving average price is $60.37.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. nVent Electric had a net margin of 17.38% and a return on equity of 17.53%. The firm had revenue of $861.20 million for the quarter, compared to the consensus estimate of $866.90 million. During the same period in the prior year, the firm posted $0.66 EPS. The firm’s revenue was up 16.1% compared to the same quarter last year. As a group, research analysts predict that nVent Electric plc will post 3.24 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be paid a dividend of $0.19 per share. The ex-dividend date is Thursday, April 25th. This represents a $0.76 dividend on an annualized basis and a yield of 1.06%. nVent Electric’s dividend payout ratio (DPR) is 22.55%.

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.