Oliver Luxxe Assets LLC Purchases 426 Shares of nVent Electric plc (NYSE:NVT)

Oliver Luxxe Assets LLC boosted its position in shares of nVent Electric plc (NYSE:NVT) by 0.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,781 shares of the company’s stock after purchasing an additional 426 shares during the period. Oliver Luxxe Assets LLC’s holdings in nVent Electric were worth $4,281,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Quent Capital LLC grew its stake in nVent Electric by 123.2% in the 4th quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after acquiring an additional 234 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of nVent Electric in the 1st quarter worth approximately $26,000. Livelsberger Financial Advisory purchased a new stake in shares of nVent Electric in the 4th quarter worth approximately $28,000. Pacific Center for Financial Services purchased a new stake in shares of nVent Electric in the 3rd quarter worth approximately $32,000. Finally, Rise Advisors LLC purchased a new stake in shares of nVent Electric in the 1st quarter worth approximately $32,000. 90.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of nVent Electric in a research report on Monday, March 11th. They issued a “buy” rating and a $83.00 price target for the company. Barclays increased their target price on shares of nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. Royal Bank of Canada decreased their target price on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. The Goldman Sachs Group increased their target price on shares of nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Finally, Citigroup increased their target price on shares of nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Monday, May 6th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, nVent Electric has an average rating of “Moderate Buy” and an average price target of $89.00.

nVent Electric Stock Performance

Shares of NYSE:NVT traded down $1.18 during midday trading on Monday, reaching $75.43. The company’s stock had a trading volume of 533,293 shares, compared to its average volume of 1,399,798. The firm has a market capitalization of $12.52 billion, a PE ratio of 22.34, a P/E/G ratio of 1.68 and a beta of 1.31. nVent Electric plc has a twelve month low of $45.60 and a twelve month high of $86.57. The stock has a fifty day moving average of $78.70 and a 200 day moving average of $69.95. The company has a quick ratio of 1.35, a current ratio of 1.99 and a debt-to-equity ratio of 0.54.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. The firm had revenue of $874.60 million for the quarter, compared to analyst estimates of $864.14 million. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.67 earnings per share. On average, equities analysts expect that nVent Electric plc will post 3.27 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be given a dividend of $0.19 per share. The ex-dividend date is Friday, July 19th. This represents a $0.76 annualized dividend and a yield of 1.01%. nVent Electric’s dividend payout ratio is presently 22.16%.

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.