Harbor Capital Advisors Inc. Makes New $1.52 Million Investment in nVent Electric plc (NYSE:NVT)

Harbor Capital Advisors Inc. acquired a new position in shares of nVent Electric plc (NYSE:NVT - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 22,305 shares of the company's stock, valued at approximately $1,520,000.

Other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC lifted its stake in shares of nVent Electric by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company's stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. UMB Bank n.a. raised its holdings in nVent Electric by 280.0% during the third quarter. UMB Bank n.a. now owns 418 shares of the company's stock valued at $29,000 after buying an additional 308 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of nVent Electric in the third quarter worth about $29,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of nVent Electric during the 2nd quarter worth about $34,000. Finally, Huntington National Bank increased its holdings in shares of nVent Electric by 57.3% during the 3rd quarter. Huntington National Bank now owns 612 shares of the company's stock valued at $43,000 after acquiring an additional 223 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

nVent Electric Trading Down 1.4 %

Shares of nVent Electric stock opened at $68.89 on Monday. nVent Electric plc has a 1 year low of $55.19 and a 1 year high of $86.57. The company's fifty day simple moving average is $73.55 and its 200-day simple moving average is $71.37. The company has a market cap of $11.35 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 3.86 and a beta of 1.27. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68.

nVent Electric (NYSE:NVT - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $937.37 million. During the same quarter in the previous year, the business posted $0.84 EPS. The firm's quarterly revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts expect that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, January 17th. This is a boost from nVent Electric's previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.16%. nVent Electric's payout ratio is currently 23.46%.

Insider Activity at nVent Electric

In other nVent Electric news, Director Jerry W. Burris sold 6,558 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the sale, the director now directly owns 45,040 shares in the company, valued at $3,603,200. This represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total value of $608,629.14. Following the transaction, the chief accounting officer now directly owns 25,993 shares of the company's stock, valued at approximately $1,972,088.91. The trade was a 23.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,382 shares of company stock worth $7,365,956. 2.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Citigroup boosted their target price on nVent Electric from $78.00 to $91.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Royal Bank of Canada upped their price objective on shares of nVent Electric from $80.00 to $85.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. Barclays raised their target price on shares of nVent Electric from $76.00 to $88.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. Finally, KeyCorp boosted their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $86.33.

nVent Electric 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.