PFG Investments LLC Buys 622 Shares of nVent Electric plc (NYSE:NVT)

PFG Investments LLC boosted its position in nVent Electric plc (NYSE:NVT) by 13.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,307 shares of the company’s stock after buying an additional 622 shares during the period. PFG Investments LLC’s holdings in nVent Electric were worth $400,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new stake in shares of nVent Electric during the first quarter valued at approximately $26,000. Quent Capital LLC increased its stake in nVent Electric by 123.2% during the 4th quarter. Quent Capital LLC now owns 424 shares of the company’s stock valued at $25,000 after purchasing an additional 234 shares in the last quarter. Rise Advisors LLC acquired a new position in nVent Electric during the first quarter worth $32,000. Livelsberger Financial Advisory bought a new position in shares of nVent Electric in the fourth quarter valued at $28,000. Finally, HM Payson & Co. acquired a new position in shares of nVent Electric during the third quarter valued at about $26,000. 90.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NVT has been the topic of a number of recent research reports. Royal Bank of Canada raised their target price on nVent Electric from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. The Goldman Sachs Group boosted their price target on shares of nVent Electric from $69.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Barclays lifted their price objective on shares of nVent Electric from $74.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of nVent Electric in a research report on Monday, March 11th. They set a “buy” rating and a $83.00 target price for the company. Finally, Citigroup lifted their price target on shares of nVent Electric from $71.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, April 8th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.60.

nVent Electric Stock Performance

NVT stock traded down $3.22 during midday trading on Tuesday, reaching $72.06. 2,227,327 shares of the company’s stock traded hands, compared to its average volume of 1,271,947. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.82. The firm has a market capitalization of $11.96 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 1.63 and a beta of 1.35. nVent Electric plc has a 52 week low of $40.22 and a 52 week high of $78.98. The company has a 50-day moving average price of $71.93 and a two-hundred day moving average price of $61.51.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.75 by $0.03. nVent Electric had a net margin of 17.38% and a return on equity of 17.53%. The company had revenue of $861.20 million during the quarter, compared to analysts’ expectations of $866.90 million. During the same quarter in the previous year, the company earned $0.66 earnings per share. nVent Electric’s revenue for the quarter was up 16.1% on a year-over-year basis. As a group, equities analysts anticipate that nVent Electric plc will post 3.24 EPS for the current year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.76 annualized dividend and a dividend yield of 1.05%. nVent Electric’s payout ratio is currently 22.55%.

Insider Buying and Selling

In other nVent Electric news, insider Joseph A. Ruzynski sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $64.23, for a total value of $160,575.00. Following the completion of the transaction, the insider now owns 36,013 shares of the company’s stock, valued at approximately $2,313,114.99. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Randall J. Hogan sold 184,572 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $64.03, for a total transaction of $11,818,145.16. Following the transaction, the director now directly owns 8,277 shares of the company’s stock, valued at approximately $529,976.31. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joseph A. Ruzynski sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $64.23, for a total value of $160,575.00. Following the completion of the sale, the insider now directly owns 36,013 shares of the company’s stock, valued at approximately $2,313,114.99. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 400,252 shares of company stock worth $25,713,777. Corporate insiders own 2.50% of the company’s stock.

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.