nVent Electric plc (NYSE:NVT) Shares Acquired by Focus Partners Wealth

Focus Partners Wealth grew its stake in nVent Electric plc (NYSE:NVT) by 2.2% during the 4th quarter, Holdings Channel reports. The firm owned 119,757 shares of the company’s stock after purchasing an additional 2,611 shares during the quarter. Focus Partners Wealth’s holdings in nVent Electric were worth $8,188,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Eisler Capital Management Ltd. acquired a new stake in shares of nVent Electric in the fourth quarter valued at about $8,527,000. Ethic Inc. grew its position in shares of nVent Electric by 13.9% in the fourth quarter. Ethic Inc. now owns 29,058 shares of the company’s stock valued at $1,981,000 after purchasing an additional 3,535 shares during the period. Deutsche Bank AG grew its position in shares of nVent Electric by 24.7% in the fourth quarter. Deutsche Bank AG now owns 779,209 shares of the company’s stock valued at $53,111,000 after purchasing an additional 154,152 shares during the period. Crestline Management LP grew its position in shares of nVent Electric by 90.4% in the fourth quarter. Crestline Management LP now owns 66,259 shares of the company’s stock valued at $4,516,000 after purchasing an additional 31,450 shares during the period. Finally, Baird Financial Group Inc. grew its position in shares of nVent Electric by 10.9% in the fourth quarter. Baird Financial Group Inc. now owns 16,156 shares of the company’s stock valued at $1,101,000 after purchasing an additional 1,591 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Stock Performance

NVT opened at $68.16 on Wednesday. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The firm’s 50-day moving average price is $54.32 and its 200 day moving average price is $64.78. nVent Electric plc has a twelve month low of $41.71 and a twelve month high of $86.57. The firm has a market capitalization of $11.22 billion, a PE ratio of 34.78, a PEG ratio of 1.48 and a beta of 1.24.

nVent Electric (NYSE:NVT) last issued its earnings results on Friday, May 2nd. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. The company had revenue of $809.30 million for the quarter, compared to the consensus estimate of $790.74 million. During the same period in the previous year, the firm earned $0.78 earnings per share. nVent Electric’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, sell-side analysts expect that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 25th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is presently 22.86%.

Insiders Place Their Bets

In other news, EVP Lynnette R. Heath sold 4,041 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $61.35, for a total value of $247,915.35. Following the sale, the executive vice president now directly owns 32,665 shares of the company’s stock, valued at approximately $2,003,997.75. The trade was a 11.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Monday, March 17th. Citigroup lowered their price target on shares of nVent Electric from $85.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. The Goldman Sachs Group lowered their price target on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. Finally, KeyCorp boosted their price target on shares of nVent Electric from $60.00 to $72.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $70.00.

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.