nVent Electric plc (NYSE:NVT) Shares Sold by OneAscent Financial Services LLC

OneAscent Financial Services LLC decreased its position in shares of nVent Electric plc (NYSE:NVT) by 6.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,928 shares of the company’s stock after selling 723 shares during the period. OneAscent Financial Services LLC’s holdings in nVent Electric were worth $749,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Banque Cantonale Vaudoise acquired a new position in nVent Electric during the 1st quarter worth about $26,000. Quent Capital LLC increased its holdings in nVent Electric by 123.2% during the 4th quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after purchasing an additional 234 shares during the period. Rise Advisors LLC purchased a new stake in nVent Electric during the 1st quarter worth about $32,000. Livelsberger Financial Advisory purchased a new stake in nVent Electric during the 4th quarter worth about $28,000. Finally, Pacific Center for Financial Services purchased a new stake in nVent Electric during the 3rd quarter worth about $32,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analyst Ratings Changes

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

nVent Electric Trading Up 0.6 %

NVT opened at $76.61 on Friday. nVent Electric plc has a one year low of $45.60 and a one year high of $86.57. The company has a market cap of $12.72 billion, a P/E ratio of 22.34, a PEG ratio of 1.77 and a beta of 1.31. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.35 and a current ratio of 1.99. The business’s 50-day simple moving average is $78.70 and its 200-day simple moving average is $69.86.

nVent Electric (NYSE:NVT) last released its quarterly earnings data 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 business had revenue of $874.60 million for the quarter, compared to the consensus estimate of $864.14 million. During the same quarter in the prior year, the business posted $0.67 EPS. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. As a group, equities research analysts expect that nVent Electric plc will post 3.27 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be given a $0.19 dividend. The ex-dividend date is Friday, July 19th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.99%. nVent Electric’s dividend payout ratio (DPR) is presently 22.16%.

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.