Oxford Financial Group LTD. LLC Buys New Shares in nVent Electric plc (NYSE:NVT)

Oxford Financial Group LTD. LLC bought a new stake in nVent Electric plc (NYSE:NVT) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,897 shares of the company’s stock, valued at approximately $294,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quent Capital LLC grew its position in shares of nVent Electric by 123.2% in the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock valued at $25,000 after purchasing an additional 234 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in nVent Electric during the first quarter worth approximately $26,000. Livelsberger Financial Advisory acquired a new stake in nVent Electric during the fourth quarter worth approximately $28,000. Rise Advisors LLC acquired a new stake in nVent Electric during the first quarter worth approximately $32,000. Finally, Smithfield Trust Co grew its position in nVent Electric by 650.0% during the fourth quarter. Smithfield Trust Co now owns 630 shares of the company’s stock worth $36,000 after buying an additional 546 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NVT shares. Royal Bank of Canada reduced their price target on nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. Citigroup increased their price target on nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Barclays increased their price target on nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. Finally, The Goldman Sachs Group raised their target price on nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a report on Monday, May 6th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.00.

nVent Electric Price Performance

Shares of NVT stock traded down $6.29 during trading hours on Wednesday, reaching $71.29. The company’s stock had a trading volume of 2,890,000 shares, compared to its average volume of 1,399,932. The firm’s 50 day simple moving average is $78.73 and its 200-day simple moving average is $72.17. The company has a market capitalization of $11.84 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 1.69 and a beta of 1.31. nVent Electric plc has a fifty-two week low of $45.60 and a fifty-two week high of $86.57. 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 announced its quarterly earnings results on Friday, May 3rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The company had revenue of $874.60 million during the quarter, compared to analysts’ expectations of $864.14 million. During the same period in the prior year, the company earned $0.67 EPS. nVent Electric’s revenue was up 18.0% compared to the same quarter last year. Sell-side analysts forecast that nVent Electric plc will post 3.27 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Friday, July 19th. nVent Electric’s payout ratio is 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.