Miracle Mile Advisors LLC Makes New $760,000 Investment in nVent Electric plc (NYSE:NVT)

Miracle Mile Advisors LLC acquired a new position in shares of nVent Electric plc (NYSE:NVT - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 11,154 shares of the company's stock, valued at approximately $760,000.

Several other institutional investors also recently bought and sold shares of the company. Swedbank AB purchased a new stake in shares of nVent Electric during the 3rd quarter worth $110,663,000. Franklin Resources Inc. lifted its stake in shares of nVent Electric by 22.1% in the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company's stock valued at $527,374,000 after purchasing an additional 1,269,335 shares during the period. Millennium Management LLC boosted its holdings in nVent Electric by 159.9% during the second quarter. Millennium Management LLC now owns 1,346,576 shares of the company's stock worth $103,161,000 after buying an additional 828,425 shares in the last quarter. Clean Energy Transition LLP increased its holdings in nVent Electric by 56.5% in the third quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company's stock valued at $158,411,000 after buying an additional 813,909 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in nVent Electric by 23.6% in the third quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company's stock valued at $171,492,000 after buying an additional 466,042 shares in the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Trading Up 1.7 %

NVT traded up $1.23 on Thursday, reaching $71.51. 1,224,274 shares of the company's stock were exchanged, compared to its average volume of 1,255,667. The company's 50 day moving average is $73.41 and its 200-day moving average is $71.27. nVent Electric plc has a twelve month low of $55.46 and a twelve month high of $86.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. The company has a market cap of $11.79 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 2.95 and a beta of 1.27.

nVent Electric (NYSE:NVT - Get Free Report) last posted 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 firm had revenue of $782.00 million for the quarter, compared to analysts' expectations of $937.37 million. During the same quarter in the prior year, the business earned $0.84 EPS. The company's revenue for the quarter was up 9.4% on a year-over-year basis. Equities analysts predict that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be paid a dividend of $0.20 per share. This is a boost from nVent Electric's previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Friday, January 17th. nVent Electric's dividend payout ratio is 22.29%.

Insider Transactions at nVent Electric

In related news, Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the transaction, the director now directly owns 45,040 shares in the company, valued at approximately $3,603,200. This trade represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Randolph A. Wacker sold 8,022 shares of the company's stock in a transaction that occurred 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 sale, the chief accounting officer now owns 25,993 shares in the company, valued at $1,972,088.91. The trade was a 23.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 96,382 shares of company stock valued at $7,365,956. Insiders own 2.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NVT shares. Citigroup reduced their target price on nVent Electric from $91.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday. Barclays increased their price objective on nVent Electric from $76.00 to $88.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. Royal Bank of Canada upped their target price on shares of nVent Electric from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Finally, KeyCorp raised their price target on shares of nVent Electric from $80.00 to $84.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $86.17.

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.