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

PFG Investments LLC lifted its position in nVent Electric plc (NYSE:NVT) by 13.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NVT. CWM LLC increased its position in shares of nVent Electric by 82.3% during the third quarter. CWM LLC now owns 2,850 shares of the company’s stock worth $151,000 after purchasing an additional 1,287 shares in the last quarter. Handelsbanken Fonder AB grew its stake in shares of nVent Electric by 100.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 49,200 shares of the company’s stock worth $2,607,000 after purchasing an additional 24,600 shares during the period. Commonwealth Equity Services LLC lifted its holdings in nVent Electric by 9.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 15,565 shares of the company’s stock valued at $825,000 after purchasing an additional 1,325 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in nVent Electric by 3.6% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 8,917 shares of the company’s stock valued at $472,000 after acquiring an additional 307 shares during the period. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in nVent Electric during the 3rd quarter worth about $153,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, Director Randall J. Hogan sold 184,572 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were 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 in the company, valued at approximately $529,976.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Joseph A. Ruzynski sold 2,500 shares of the stock in a transaction 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 sale, the insider now owns 36,013 shares in the company, valued at approximately $2,313,114.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Randall J. Hogan sold 184,572 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $64.03, for a total value of $11,818,145.16. Following the sale, the director now directly owns 8,277 shares of the company’s stock, valued at approximately $529,976.31. The disclosure for this sale can be found here. Over the last three months, insiders have sold 400,252 shares of company stock valued at $25,713,777. 2.50% of the stock is currently owned by corporate insiders.

nVent Electric Price Performance

nVent Electric stock traded down $3.22 during mid-day trading on Tuesday, hitting $72.06. The company’s stock had a trading volume of 2,227,327 shares, compared to its average volume of 1,271,947. The stock has a market capitalization of $11.96 billion, a P/E ratio of 21.38, a P/E/G ratio of 1.63 and a beta of 1.35. nVent Electric plc has a twelve month low of $40.22 and a twelve month high of $78.98. The stock’s fifty day moving average price is $71.93 and its two-hundred day moving average price is $61.51. The company has a quick ratio of 1.22, a current ratio of 1.82 and a debt-to-equity ratio of 0.56.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. The company had revenue of $861.20 million during the quarter, compared to analysts’ expectations of $866.90 million. nVent Electric had a net margin of 17.38% and a return on equity of 17.53%. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 earnings per share. Research analysts forecast that nVent Electric plc will post 3.24 earnings per share for the current year.

nVent Electric Announces Dividend

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

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.