BlackRock Inc. Acquires 40,932 Shares of nVent Electric PLC (NYSE:NVT)

BlackRock Inc. lifted its holdings in nVent Electric PLC (NYSE:NVT) by 0.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,335,510 shares of the company’s stock after purchasing an additional 40,932 shares during the period. BlackRock Inc. owned about 0.09% of nVent Electric worth $380,170,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Personal Wealth Partners bought a new position in shares of nVent Electric in the 2nd quarter worth approximately $27,000. First Interstate Bank bought a new position in shares of nVent Electric in the 2nd quarter worth approximately $41,000. Stonebridge Capital Advisors LLC bought a new position in shares of nVent Electric in the 2nd quarter worth approximately $84,000. Point72 Asset Management L.P. bought a new position in shares of nVent Electric in the 2nd quarter worth approximately $87,000. Finally, Captrust Financial Advisors lifted its stake in shares of nVent Electric by 19.7% in the 2nd quarter. Captrust Financial Advisors now owns 5,183 shares of the company’s stock worth $128,000 after purchasing an additional 853 shares during the period. Hedge funds and other institutional investors own 86.44% of the company’s stock.

In other nVent Electric news, Director Randall J. Hogan sold 204,605 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $23.97, for a total transaction of $4,904,381.85. 1.60% of the stock is currently owned by company insiders.

Several equities analysts have recently weighed in on NVT shares. Royal Bank of Canada cut shares of nVent Electric from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $30.00 to $24.00 in a research note on Tuesday, October 1st. ValuEngine cut shares of nVent Electric from a “sell” rating to a “strong sell” rating in a research note on Friday, November 1st. Rosenblatt Securities started coverage on shares of nVent Electric in a research note on Thursday, November 7th. They issued a “buy” rating and a $28.00 price objective on the stock. Buckingham Research lowered their price objective on shares of nVent Electric from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 8th. Finally, Gabelli cut shares of nVent Electric from a “buy” rating to a “hold” rating and set a $27.00 price objective on the stock. in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. nVent Electric has an average rating of “Hold” and an average target price of $26.25.

NYSE NVT opened at $23.70 on Thursday. nVent Electric PLC has a 12 month low of $19.04 and a 12 month high of $28.49. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of 13.62 and a beta of 1.68. The company’s 50 day moving average is $21.67 and its two-hundred day moving average is $23.10. The company has a current ratio of 1.84, a quick ratio of 1.25 and a debt-to-equity ratio of 0.44.

nVent Electric (NYSE:NVT) last released its earnings results on Wednesday, October 30th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. nVent Electric had a net margin of 11.07% and a return on equity of 11.85%. The company had revenue of $559.80 million for the quarter, compared to analysts’ expectations of $554.44 million. During the same quarter last year, the business earned $0.46 EPS. The firm’s revenue was down .7% compared to the same quarter last year. Sell-side analysts forecast that nVent Electric PLC will post 1.75 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date was Thursday, October 17th. nVent Electric’s 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.

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Institutional Ownership by Quarter for nVent Electric (NYSE:NVT)

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