Raymond James Trust N.A. purchased a new position in nVent Electric PLC (NYSE:NVT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,270 shares of the company’s stock, valued at approximately $212,000.
Several other large investors have also added to or reduced their stakes in NVT. Covington Capital Management grew its stake in shares of nVent Electric by 43.0% in the third quarter. Covington Capital Management now owns 1,430 shares of the company’s stock worth $32,000 after purchasing an additional 430 shares in the last quarter. Stonebridge Capital Advisors LLC acquired a new stake in shares of nVent Electric in the second quarter valued at $84,000. Institutional & Family Asset Management LLC lifted its holdings in shares of nVent Electric by 15.0% in the third quarter. Institutional & Family Asset Management LLC now owns 3,842 shares of the company’s stock valued at $85,000 after buying an additional 500 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of nVent Electric in the second quarter valued at $87,000. Finally, First Interstate Bank lifted its holdings in shares of nVent Electric by 228.6% in the third quarter. First Interstate Bank now owns 5,405 shares of the company’s stock valued at $119,000 after buying an additional 3,760 shares during the period. 86.78% of the stock is owned by institutional investors.
NVT has been the subject of several research analyst reports. CL King initiated coverage on nVent Electric in a report on Tuesday, December 10th. They issued a “neutral” rating for the company. ValuEngine upgraded nVent Electric from a “strong sell” rating to a “sell” rating in a report on Friday, January 3rd. Gabelli lowered nVent Electric from a “buy” rating to a “hold” rating and set a $27.00 price objective for the company. in a report on Friday, November 1st. G.Research lowered nVent Electric from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, KeyCorp restated a “buy” rating and issued a $29.00 price objective on shares of nVent Electric in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. nVent Electric has a consensus rating of “Hold” and an average price target of $26.14.
In related news, Director William T. Monahan sold 6,116 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $24.97, for a total transaction of $152,716.52. Following the transaction, the director now directly owns 50,523 shares of the company’s stock, valued at $1,261,559.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Randall J. Hogan sold 204,605 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $23.97, for a total value of $4,904,381.85. Corporate insiders own 1.60% of the company’s stock.
Shares of NYSE NVT opened at $25.57 on Tuesday. nVent Electric PLC has a 12 month low of $19.04 and a 12 month high of $28.49. The company has a market cap of $4.33 billion, a price-to-earnings ratio of 18.40 and a beta of 1.70. The company has a quick ratio of 1.25, a current ratio of 1.84 and a debt-to-equity ratio of 0.44. The business has a fifty day simple moving average of $25.26 and a 200-day simple moving average of $23.14.
nVent Electric (NYSE:NVT) last announced its earnings results on Wednesday, October 30th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.47 by $0.02. nVent Electric had a return on equity of 11.85% and a net margin of 11.07%. The business had revenue of $559.80 million during the quarter, compared to the consensus estimate of $554.44 million. During the same period in the prior year, the business posted $0.46 earnings per share. nVent Electric’s revenue was down .7% compared to the same quarter last year. As a group, sell-side analysts expect that nVent Electric PLC will post 1.75 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 24th will be issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Thursday, January 23rd. nVent Electric’s dividend payout ratio is 40.23%.
nVent Electric Company Profile
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.
Recommended Story: Mutual Funds
Want to see what other hedge funds are holding NVT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for nVent Electric PLC (NYSE:NVT).
Receive News & Ratings for nVent Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for nVent Electric and related companies with MarketBeat.com's FREE daily email newsletter.