Nisa Investment Advisors LLC Purchases 1,990 Shares of nVent Electric PLC $NVT

Nisa Investment Advisors LLC grew its position in nVent Electric PLC (NYSE:NVT) by 9.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,782 shares of the company’s stock after acquiring an additional 1,990 shares during the quarter. Nisa Investment Advisors LLC’s holdings in nVent Electric were worth $1,669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. Trust Co. of Vermont lifted its position in nVent Electric by 57.8% during the second quarter. Trust Co. of Vermont now owns 434 shares of the company’s stock valued at $32,000 after purchasing an additional 159 shares during the last quarter. SVB Wealth LLC bought a new position in nVent Electric during the first quarter valued at $25,000. American National Bank & Trust bought a new position in nVent Electric during the second quarter valued at $46,000. Hughes Financial Services LLC bought a new position in nVent Electric during the first quarter valued at $36,000. Finally, Hoese & Co LLP lifted its position in nVent Electric by 223.2% during the second quarter. Hoese & Co LLP now owns 724 shares of the company’s stock valued at $53,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

Insider Buying and Selling

In related news, EVP Jon D. Lammers sold 119,694 shares of the firm’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $89.48, for a total value of $10,710,219.12. Following the transaction, the executive vice president owned 70,817 shares of the company’s stock, valued at $6,336,705.16. This trade represents a 62.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Aravind Padmanabhan sold 24,534 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $90.00, for a total transaction of $2,208,060.00. Following the completion of the transaction, the executive vice president directly owned 12,063 shares in the company, valued at $1,085,670. This represents a 67.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 261,111 shares of company stock worth $23,367,520 over the last ninety days. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. The Goldman Sachs Group increased their price objective on shares of nVent Electric from $99.00 to $111.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of nVent Electric in a research report on Wednesday, October 8th. Citigroup reissued a “buy” rating on shares of nVent Electric in a research report on Thursday, October 9th. Barclays boosted their target price on nVent Electric from $100.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 1st. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $102.00 target price (up previously from $85.00) on shares of nVent Electric in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $99.71.

nVent Electric Price Performance

NVT opened at $104.30 on Friday. The stock has a market cap of $16.79 billion, a P/E ratio of 29.72, a PEG ratio of 1.58 and a beta of 1.38. nVent Electric PLC has a 52-week low of $41.71 and a 52-week high of $107.75. The business has a fifty day moving average of $96.83 and a 200 day moving average of $79.69. The company has a quick ratio of 1.20, a current ratio of 1.67 and a debt-to-equity ratio of 0.50.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.79 by $0.07. The company had revenue of $963.10 million for the quarter, compared to the consensus estimate of $906.96 million. nVent Electric had a net margin of 17.72% and a return on equity of 13.36%. The firm’s revenue was up 30.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.82 EPS. As a group, sell-side analysts anticipate that nVent Electric PLC will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 17th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, October 17th. nVent Electric’s dividend payout ratio (DPR) is currently 22.79%.

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.