Good Life Advisors LLC Buys 585 Shares of nVent Electric plc (NYSE:NVT)

Good Life Advisors LLC grew its position in nVent Electric plc (NYSE:NVT) by 1.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 38,888 shares of the company’s stock after purchasing an additional 585 shares during the quarter. Good Life Advisors LLC’s holdings in nVent Electric were worth $2,732,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NVT. Swedbank AB bought a new position in shares of nVent Electric in the third quarter worth approximately $110,663,000. Millennium Management LLC increased 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 valued at $103,161,000 after buying an additional 828,425 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in nVent Electric by 16.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock valued at $374,201,000 after buying an additional 673,990 shares during the last quarter. Jennison Associates LLC purchased a new stake in nVent Electric during the first quarter valued at approximately $22,784,000. Finally, DigitalBridge Group Inc. purchased a new stake in nVent Electric during the second quarter valued at approximately $21,291,000. Institutional investors own 90.05% of the company’s stock.

Insider Activity at nVent Electric

In related news, Director Herbert K. Parker bought 7,566 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average cost of $65.71 per share, with a total value of $497,161.86. Following the completion of the purchase, the director now owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. In other nVent Electric news, Director Herbert K. Parker acquired 7,566 shares of the stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the transaction, the director now directly owns 34,524 shares of the company’s stock, valued at $2,268,572.04. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lynnette R. Heath sold 8,242 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total transaction of $496,662.92. Following the transaction, the executive vice president now owns 30,432 shares of the company’s stock, valued at $1,833,832.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.

nVent Electric Price Performance

Shares of NYSE NVT traded up $1.00 during midday trading on Thursday, reaching $75.31. The stock had a trading volume of 407,970 shares, compared to its average volume of 1,532,672. The stock has a 50-day moving average of $67.34 and a 200-day moving average of $73.24. 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 company has a market capitalization of $12.50 billion, a price-to-earnings ratio of 21.66, a price-to-earnings-growth ratio of 1.47 and a beta of 1.27. nVent Electric plc has a 12-month low of $45.60 and a 12-month high of $86.57.

nVent Electric (NYSE:NVT) last posted its earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.01). The company had revenue of $880.30 million for the quarter, compared to analysts’ expectations of $892.89 million. nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The business’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.77 earnings per share. As a group, research analysts anticipate that nVent Electric plc will post 3.26 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, October 18th. This represents a $0.76 annualized dividend and a yield of 1.01%. nVent Electric’s payout ratio is 22.16%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NVT shares. KeyCorp upped their target price on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday. Barclays reduced their price objective on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada reduced their price objective on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, nVent Electric has an average rating of “Buy” and an average target price of $85.67.

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.