Congress Wealth Management LLC DE Purchases 17,416 Shares of nVent Electric plc (NYSE:NVT)

Congress Wealth Management LLC DE lifted its position in shares of nVent Electric plc (NYSE:NVT) by 7.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 255,741 shares of the company’s stock after acquiring an additional 17,416 shares during the period. Congress Wealth Management LLC DE’s holdings in nVent Electric were worth $19,283,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in NVT. Quent Capital LLC lifted its holdings in shares of nVent Electric by 123.2% during the 4th quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after acquiring an additional 234 shares during the period. Banque Cantonale Vaudoise bought a new stake in shares of nVent Electric during the 1st quarter worth approximately $26,000. Livelsberger Financial Advisory bought a new stake in shares of nVent Electric during the 4th quarter worth approximately $28,000. Pacific Center for Financial Services bought a new stake in shares of nVent Electric during the 3rd quarter worth approximately $32,000. Finally, Rise Advisors LLC bought a new position in nVent Electric in the 1st quarter valued at approximately $32,000. Institutional investors own 90.05% of the company’s stock.

nVent Electric Trading Down 2.0 %

Shares of NVT stock traded down $1.52 during trading hours on Monday, hitting $75.09. 1,189,211 shares of the company’s stock traded hands, compared to its average volume of 1,405,046. The stock’s 50 day simple moving average is $78.70 and its 200 day simple moving average is $69.95. The stock has a market cap of $12.47 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31. nVent Electric plc has a 12 month low of $45.60 and a 12 month high of $86.57. The company has a quick ratio of 1.35, a current ratio of 1.99 and a debt-to-equity ratio of 0.54.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Friday, May 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.04. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The firm had revenue of $874.60 million during the quarter, compared to the consensus estimate of $864.14 million. During the same quarter last year, the firm earned $0.67 earnings per share. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, sell-side analysts anticipate that nVent Electric plc will post 3.27 EPS for the current year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, July 19th. nVent Electric’s dividend payout ratio (DPR) is presently 22.16%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Barclays increased their price objective on shares of nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th. Royal Bank of Canada dropped their price objective on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. Citigroup increased their price objective on shares of nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of nVent Electric in a research note on Monday, March 11th. They issued a “buy” rating and a $83.00 price objective for the company. Finally, The Goldman Sachs Group increased their price objective on shares of nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Monday, May 6th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, nVent Electric has a consensus rating of “Moderate Buy” and a consensus price target of $89.00.

nVent Electric Company 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.