Net Worth Advisory Group Acquires New Position in nVent Electric plc (NYSE:NVT)

Net Worth Advisory Group bought a new position in shares of nVent Electric plc (NYSE:NVT) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,079 shares of the company’s stock, valued at approximately $638,000.

Other large investors have also recently modified their holdings of the company. Banque Cantonale Vaudoise purchased a new stake in shares of nVent Electric in the first quarter worth about $26,000. UMB Bank n.a. raised its holdings 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 valued at $29,000 after buying an additional 308 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in nVent Electric in the 3rd quarter worth approximately $29,000. ORG Partners LLC purchased a new stake in nVent Electric in the second quarter worth approximately $31,000. Finally, First Foundation Advisors bought a new position in nVent Electric during the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Royal Bank of Canada dropped their target price on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. 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, 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 report on Wednesday, October 2nd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $85.67.

Insiders Place Their Bets

In related news, Director Herbert K. Parker purchased 7,566 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were purchased at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the acquisition, the director now owns 34,524 shares in the company, valued at approximately $2,268,572.04. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Herbert K. Parker acquired 7,566 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the purchase, 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 position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael B. Faulconer sold 20,004 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total value of $1,267,053.36. Following the transaction, the insider now owns 19,766 shares in the company, valued at approximately $1,251,978.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

nVent Electric Price Performance

Shares of NVT opened at $75.31 on Friday. The firm has a market cap of $12.52 billion, a PE ratio of 22.02, a P/E/G ratio of 1.54 and a beta of 1.27. nVent Electric plc has a 1-year low of $45.60 and a 1-year high of $86.57. The company has a current ratio of 2.17, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53. The firm has a fifty day simple moving average of $67.84 and a two-hundred day simple moving average of $73.25.

nVent Electric (NYSE:NVT) last posted its quarterly 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 business had revenue of $880.30 million during the quarter, compared to the consensus estimate of $892.89 million. nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.77 earnings per share. On average, equities analysts anticipate that nVent Electric plc will post 3.26 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.01%. The ex-dividend date is Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is presently 22.22%.

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.