134,824 Shares in nVent Electric plc (NYSE:NVT) Bought by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc acquired a new position in nVent Electric plc (NYSE:NVT - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 134,824 shares of the company's stock, valued at approximately $9,473,000. Marks Group Wealth Management Inc owned 0.08% of nVent Electric as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NVT. UMB Bank n.a. lifted its stake in shares of nVent Electric by 280.0% in the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company's stock worth $29,000 after purchasing an additional 308 shares during the period. ORG Wealth Partners LLC bought a new position in shares of nVent Electric in the 3rd quarter worth approximately $29,000. ORG Partners LLC bought a new position in shares of nVent Electric in the 2nd quarter worth approximately $31,000. First Foundation Advisors bought a new position in shares of nVent Electric in the 2nd quarter worth approximately $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of nVent Electric in the 2nd quarter worth approximately $34,000. Institutional investors own 90.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. KeyCorp increased their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. Royal Bank of Canada reduced their target price on shares of nVent Electric from $82.00 to $80.00 and set an "outperform" rating for the company in a report on Monday. Finally, Barclays reduced their target price on shares of nVent Electric from $87.00 to $86.00 and set an "overweight" rating for the company in a report on Wednesday, October 2nd. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, nVent Electric presently has a consensus rating of "Buy" and a consensus target price of $85.33.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, Director Herbert K. Parker bought 7,566 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average cost of $65.71 per share, with a total value of $497,161.86. Following the completion of the acquisition, the director now owns 34,524 shares in the company, valued at $2,268,572.04. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Michael B. Faulconer sold 20,004 shares of the firm's stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total value of $1,267,053.36. Following the completion of the transaction, the insider now directly owns 19,766 shares of the company's stock, valued at approximately $1,251,978.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Herbert K. Parker bought 7,566 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average cost of $65.71 per share, with a total value of $497,161.86. Following the completion of the acquisition, the director now owns 34,524 shares of the company's stock, valued at $2,268,572.04. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.50% of the company's stock.

nVent Electric Price Performance

NVT traded up $7.31 during trading on Wednesday, reaching $77.07. 2,819,220 shares of the company traded hands, compared to its average volume of 1,575,992. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. nVent Electric plc has a 12-month low of $49.28 and a 12-month high of $86.57. The firm has a fifty day simple moving average of $69.83 and a 200 day simple moving average of $73.12. The company has a market cap of $12.70 billion, a P/E ratio of 22.60, a PEG ratio of 1.83 and a beta of 1.26.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The company had revenue of $782.00 million for the quarter, compared to analysts' expectations of $937.37 million. During the same period last year, the business earned $0.84 earnings per share. The company's quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities analysts forecast that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date was Friday, October 18th. nVent Electric's dividend payout ratio (DPR) is currently 22.29%.

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.