nVent Electric plc (NYSE:NVT) Stock Holdings Boosted by Outfitter Financial LLC

Outfitter Financial LLC raised its stake in shares of nVent Electric plc (NYSE:NVT) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 50,464 shares of the company’s stock after acquiring an additional 572 shares during the period. nVent Electric makes up 2.6% of Outfitter Financial LLC’s investment portfolio, making the stock its 8th biggest holding. Outfitter Financial LLC’s holdings in nVent Electric were worth $2,982,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Quent Capital LLC boosted its holdings in nVent Electric by 123.2% in 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. HM Payson & Co. purchased a new position in nVent Electric in the third quarter worth $26,000. Pacific Center for Financial Services acquired a new stake in nVent Electric in the third quarter valued at $32,000. Baystate Wealth Management LLC purchased a new stake in shares of nVent Electric during the 3rd quarter worth $33,000. Finally, Headlands Technologies LLC acquired a new position in shares of nVent Electric during the 3rd quarter worth $35,000. 90.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on NVT. Barclays raised their price objective on shares of nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Citigroup boosted their price target on nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft began coverage on nVent Electric in a research note on Monday, March 11th. They issued a “buy” rating and a $83.00 price objective for the company. The Goldman Sachs Group boosted their target price on nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Royal Bank of Canada dropped their price target on nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a research report on Monday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.00.

nVent Electric Price Performance

NVT stock traded up $0.04 on Friday, reaching $82.11. The company had a trading volume of 762,715 shares, compared to its average volume of 1,349,562. The company’s fifty day moving average is $73.41 and its 200 day moving average is $62.65. The company has a market cap of $13.63 billion, a P/E ratio of 23.93, a PEG ratio of 1.63 and a beta of 1.35. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.35 and a current ratio of 1.99. nVent Electric plc has a 1 year low of $40.22 and a 1 year high of $83.78.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Friday, May 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.04. The business had revenue of $874.60 million for the quarter, compared to the consensus estimate of $864.14 million. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The business’s revenue was up 18.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.67 earnings per share. On average, research analysts forecast that nVent Electric plc will post 3.25 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Thursday, April 25th. nVent Electric’s dividend payout ratio is presently 22.16%.

Insider Activity

In related news, insider Michael B. Faulconer sold 10,961 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $67.33, for a total transaction of $738,004.13. Following the sale, the insider now owns 33,109 shares in the company, valued at $2,229,228.97. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Jerry W. Burris sold 4,008 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $63.39, for a total value of $254,067.12. Following the sale, the director now directly owns 43,072 shares of the company’s stock, valued at $2,730,334.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael B. Faulconer sold 10,961 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $67.33, for a total transaction of $738,004.13. Following the transaction, the insider now directly owns 33,109 shares of the company’s stock, valued at approximately $2,229,228.97. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

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.