CLARET ASSET MANAGEMENT Corp grew its position in nVent Electric PLC (NYSE:NVT) by 4.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 78,695 shares of the company’s stock after purchasing an additional 3,664 shares during the period. CLARET ASSET MANAGEMENT Corp’s holdings in nVent Electric were worth $1,734,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of NVT. Personal Wealth Partners acquired a new stake in shares of nVent Electric in the 2nd quarter valued at $27,000. First Interstate Bank acquired a new stake in shares of nVent Electric in the 2nd quarter valued at $41,000. Stonebridge Capital Advisors LLC acquired a new stake in shares of nVent Electric in the 2nd quarter valued at $84,000. Point72 Asset Management L.P. acquired a new stake in shares of nVent Electric in the 2nd quarter valued at $87,000. Finally, Captrust Financial Advisors boosted its stake in shares of nVent Electric by 19.7% in the 2nd quarter. Captrust Financial Advisors now owns 5,183 shares of the company’s stock valued at $128,000 after purchasing an additional 853 shares in the last quarter. Institutional investors own 85.67% of the company’s stock.
NVT has been the subject of a number of research analyst reports. Barclays reaffirmed a “hold” rating and issued a $25.00 price target on shares of nVent Electric in a report on Sunday, August 4th. Zacks Investment Research cut nVent Electric from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. Buckingham Research cut their price target on nVent Electric from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday. Gabelli initiated coverage on nVent Electric in a report on Friday. They issued a “buy” rating and a $27.00 price target for the company. Finally, KeyCorp cut their price target on nVent Electric from $32.00 to $29.00 and set an “overweight” rating for the company in a report on Monday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. nVent Electric presently has an average rating of “Hold” and a consensus price target of $26.50.
In other news, CEO Beth Wozniak acquired 5,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was purchased at an average cost of $21.29 per share, with a total value of $106,450.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael L. Ducker acquired 2,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were purchased at an average cost of $20.51 per share, with a total value of $41,020.00. The disclosure for this purchase can be found here. Insiders own 1.60% of the company’s stock.
Shares of nVent Electric stock traded up $1.17 during trading on Friday, reaching $20.37. The company’s stock had a trading volume of 32,036 shares, compared to its average volume of 1,714,556. The stock has a 50-day moving average price of $20.91 and a two-hundred day moving average price of $23.97. The company has a current ratio of 1.87, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41. nVent Electric PLC has a one year low of $19.04 and a one year high of $28.49. The stock has a market capitalization of $3.22 billion, a P/E ratio of 11.72 and a beta of 1.66.
nVent Electric (NYSE:NVT) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.44. The business had revenue of $539.50 million during the quarter, compared to analysts’ expectations of $550.75 million. nVent Electric had a return on equity of 11.69% and a net margin of 11.43%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 earnings per share. As a group, sell-side analysts anticipate that nVent Electric PLC will post 1.75 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be issued a dividend of $0.175 per share. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $0.70 annualized dividend and a yield of 3.44%. nVent Electric’s dividend payout ratio is currently 40.23%.
nVent Electric Company Profile
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.
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