Oak Thistle LLC Buys Shares of 14,810 nVent Electric plc (NYSE:NVT)

Oak Thistle LLC acquired a new stake in nVent Electric plc (NYSE:NVT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,810 shares of the company's stock, valued at approximately $1,009,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Larson Financial Group LLC grew its holdings in 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 buying an additional 181 shares during the period. ORG Wealth Partners LLC purchased a new stake in nVent Electric in the third quarter valued at approximately $29,000. UMB Bank n.a. grew its holdings in nVent Electric by 280.0% in the third quarter. UMB Bank n.a. now owns 418 shares of the company's stock valued at $29,000 after purchasing an additional 308 shares during the period. Anchor Investment Management LLC increased its position in nVent Electric by 94.0% during the second quarter. Anchor Investment Management LLC now owns 578 shares of the company's stock worth $44,000 after purchasing an additional 280 shares during the last quarter. Finally, Huntington National Bank raised its stake in nVent Electric by 57.3% during the third quarter. Huntington National Bank now owns 612 shares of the company's stock worth $43,000 after purchasing an additional 223 shares during the period. Hedge funds and other institutional investors own 90.05% of the company's stock.

nVent Electric Stock Up 1.7 %

Shares of NYSE NVT traded up $1.23 on Thursday, hitting $71.51. The company had a trading volume of 1,224,236 shares, compared to its average volume of 1,227,877. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. nVent Electric plc has a 12-month low of $55.46 and a 12-month high of $86.57. The firm has a market capitalization of $11.79 billion, a P/E ratio of 20.97, a PEG ratio of 2.95 and a beta of 1.27. The business has a 50 day moving average of $73.55 and a two-hundred day moving average of $71.27.

nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) 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 firm had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. During the same period last year, the business earned $0.84 EPS. The firm's revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts forecast that nVent Electric plc will post 2.5 earnings per share for the current fiscal 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. The ex-dividend date of this dividend is Friday, January 17th. This is an increase from nVent Electric's previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.12%. nVent Electric's dividend payout ratio (DPR) is currently 22.29%.

Analyst Upgrades and Downgrades

NVT has been the subject of a number of research analyst reports. KeyCorp upped their price objective on nVent Electric from $80.00 to $84.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. Barclays upped their price target on nVent Electric from $76.00 to $88.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Royal Bank of Canada lifted their price objective on nVent Electric from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Finally, Citigroup dropped their target price on shares of nVent Electric from $91.00 to $90.00 and set a "buy" rating for the company in a research report on Monday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, nVent Electric presently has a consensus rating of "Buy" and an average price target of $86.17.

Insider Transactions at nVent Electric

In related news, CFO Sara E. Zawoyski sold 14,505 shares of the business's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total value of $1,113,403.80. Following the completion of the sale, the chief financial officer now directly owns 62,215 shares of the company's stock, valued at $4,775,623.40. The trade was a 18.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jon D. Lammers sold 67,297 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total value of $5,119,282.79. Following the transaction, the executive vice president now directly owns 58,121 shares in the company, valued at approximately $4,421,264.47. This represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 96,382 shares of company stock valued at $7,365,956. 2.50% of the stock is currently owned by insiders.

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.