Hedeker Wealth LLC acquired a new position in shares of nVent Electric plc (NYSE:NVT - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 18,219 shares of the company's stock, valued at approximately $1,280,000.
A number of other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB boosted its holdings in nVent Electric by 15.5% in the first quarter. Nordea Investment Management AB now owns 75,323 shares of the company's stock worth $5,684,000 after purchasing an additional 10,135 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of nVent Electric by 6.6% during the 2nd quarter. Federated Hermes Inc. now owns 410,902 shares of the company's stock worth $31,479,000 after acquiring an additional 25,482 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of nVent Electric by 4.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 190,240 shares of the company's stock worth $14,344,000 after acquiring an additional 8,489 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of nVent Electric by 18.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 306,319 shares of the company's stock valued at $23,099,000 after acquiring an additional 46,748 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of nVent Electric by 250.4% in the 1st quarter. SG Americas Securities LLC now owns 62,384 shares of the company's stock valued at $4,704,000 after acquiring an additional 44,582 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.
Insider Activity
In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of nVent Electric stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Michael B. Faulconer sold 20,004 shares of the firm's stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the completion of the sale, the insider now 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 filing with the SEC, which is accessible through this link. Also, Director Herbert K. Parker acquired 7,566 shares of the business's stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $65.71 per share, with a total value of $497,161.86. Following the transaction, the director now owns 34,524 shares in the company, valued at approximately $2,268,572.04. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.50% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on NVT shares. KeyCorp lifted 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 dropped their price objective on nVent Electric from $88.00 to $82.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 7th. Finally, Barclays decreased their target price on nVent Electric from $87.00 to $86.00 and set an "overweight" rating for the company in a research note on Wednesday, October 2nd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $85.67.
Get Our Latest Analysis on NVT
nVent Electric Stock Performance
Shares of NVT traded down $0.24 during trading hours on Tuesday, reaching $74.59. 1,143,013 shares of the company traded hands, compared to its average volume of 1,523,235. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 2.17. The stock's fifty day moving average is $68.91 and its 200 day moving average is $73.13. nVent Electric plc has a 1-year low of $46.63 and a 1-year high of $86.57. The stock has a market cap of $12.38 billion, a P/E ratio of 21.82, a price-to-earnings-growth ratio of 1.50 and a beta of 1.27.
nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.83 by ($0.01). nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The business had revenue of $880.30 million during the quarter, compared to analyst estimates of $892.89 million. During the same quarter in the prior year, the company posted $0.77 EPS. The company's quarterly revenue was up 9.6% compared to the same quarter last year. Equities research analysts anticipate that nVent Electric plc will post 3.26 earnings per share for the current fiscal year.
nVent Electric Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Friday, October 18th. nVent Electric's payout ratio is 22.16%.
About nVent Electric
(
Free Report)
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.
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