MorganRosel Wealth Management LLC Cuts Stake in nVent Electric plc (NYSE:NVT)

MorganRosel Wealth Management LLC trimmed its stake in nVent Electric plc (NYSE:NVT) by 28.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,258 shares of the company’s stock after selling 5,641 shares during the quarter. MorganRosel Wealth Management LLC’s holdings in nVent Electric were worth $1,075,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of NVT. Quent Capital LLC raised its holdings in 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 buying an additional 234 shares during the period. Banque Cantonale Vaudoise acquired a new stake in shares of nVent Electric in the first quarter worth $26,000. Livelsberger Financial Advisory acquired a new position in shares of nVent Electric during the 4th quarter valued at $28,000. Pacific Center for Financial Services purchased a new stake in nVent Electric during the 3rd quarter worth $32,000. Finally, Rise Advisors LLC acquired a new stake in nVent Electric in the 1st quarter valued at $32,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Trading Up 0.6 %

NVT opened at $76.61 on Monday. The firm’s fifty day moving average price is $78.70 and its 200 day moving average price is $69.95. The stock has a market capitalization of $12.72 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 12-month low of $45.60 and a 12-month high of $86.57. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.99 and a quick ratio of 1.35.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Friday, May 3rd. The company reported $0.77 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $864.14 million. During the same period last year, the firm earned $0.67 earnings per share. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. As a group, research analysts expect that nVent Electric plc will post 3.27 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Friday, July 19th. nVent Electric’s dividend payout ratio is presently 22.16%.

Analyst Ratings Changes

NVT has been the subject of several analyst reports. Barclays upped their target price on nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. Citigroup lifted their price objective on shares of nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Monday, May 6th. 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 note on Monday, May 6th. The Goldman Sachs Group lifted their price target on shares of nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Finally, 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 objective for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.00.

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.