Diversify Wealth Management LLC Purchases 2,596 Shares of nVent Electric plc (NYSE:NVT)

Diversify Wealth Management LLC grew its position in nVent Electric plc (NYSE:NVT) by 39.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,220 shares of the company’s stock after acquiring an additional 2,596 shares during the quarter. Diversify Wealth Management LLC’s holdings in nVent Electric were worth $635,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of NVT. Larson Financial Group LLC lifted its position in shares of nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after buying an additional 181 shares during the period. UMB Bank n.a. lifted its position in shares of nVent Electric by 280.0% during the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after buying an additional 308 shares during the period. ORG Wealth Partners LLC bought a new position in shares of nVent Electric during the 3rd quarter worth approximately $29,000. Huntington National Bank lifted its position in shares of nVent Electric by 57.3% during the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after buying an additional 223 shares during the period. Finally, Anchor Investment Management LLC lifted its position in shares of nVent Electric by 94.0% during the 2nd quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock worth $44,000 after buying an additional 280 shares during the period. Institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Up 3.6 %

NYSE NVT opened at $74.90 on Wednesday. The stock has a fifty day moving average of $73.10 and a 200-day moving average of $71.14. The stock has a market capitalization of $12.34 billion, a P/E ratio of 21.96, a price-to-earnings-growth ratio of 3.35 and a beta of 1.27. nVent Electric plc has a 52 week low of $56.44 and a 52 week 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.

nVent Electric (NYSE:NVT) last released its earnings results on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.18). The firm had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the business posted $0.84 earnings per share. On average, equities research analysts forecast that nVent Electric plc will post 2.49 EPS for the current year.

nVent Electric Increases Dividend

The company 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 $0.20 dividend. 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 1.07%. The ex-dividend date is Friday, January 17th. nVent Electric’s dividend payout ratio (DPR) is 23.46%.

Insider Activity

In related news, EVP Jon D. Lammers sold 67,297 shares of nVent Electric stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the completion of the sale, the executive vice president now directly owns 58,121 shares of the company’s stock, valued at $4,421,264.47. The trade was a 53.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jerry W. Burris sold 6,558 shares of nVent Electric 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 of the company’s stock, valued at approximately $3,603,200. This trade represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 96,382 shares of company stock valued at $7,365,956. Company insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NVT shares. Royal Bank of Canada raised their target price on nVent Electric from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Barclays lifted their price objective on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. KeyCorp lifted their price objective on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Citigroup cut their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price 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.