B. Riley Wealth Advisors Inc. Boosts Holdings in nVent Electric plc (NYSE:NVT)

B. Riley Wealth Advisors Inc. raised its holdings in shares of nVent Electric plc (NYSE:NVT) by 4.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,415 shares of the company’s stock after buying an additional 519 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in nVent Electric were worth $951,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NVT. Banque Cantonale Vaudoise purchased a new position in shares of nVent Electric during the 1st quarter valued at about $26,000. Livelsberger Financial Advisory purchased a new position in nVent Electric during the fourth quarter valued at approximately $28,000. ORG Partners LLC bought a new position in shares of nVent Electric in the second quarter worth approximately $31,000. Rise Advisors LLC purchased a new stake in shares of nVent Electric in the first quarter worth $32,000. Finally, First Foundation Advisors bought a new stake in shares of nVent Electric during the 2nd quarter valued at $34,000. 90.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NVT shares. KeyCorp raised shares of nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 target price for the company in a report on Wednesday, September 4th. Barclays dropped their price objective on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Royal Bank of Canada decreased their target price on nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, nVent Electric has a consensus rating of “Buy” and an average price target of $85.00.

nVent Electric Stock Up 2.9 %

Shares of NVT stock opened at $69.68 on Friday. The stock has a market cap of $11.57 billion, a P/E ratio of 20.31, a PEG ratio of 1.35 and a beta of 1.27. The company’s fifty day simple moving average is $66.32 and its two-hundred day simple moving average is $73.32. The company has a quick ratio of 1.49, a current ratio of 2.17 and a debt-to-equity ratio of 0.53. nVent Electric plc has a 52 week low of $45.60 and a 52 week high of $86.57.

nVent Electric (NYSE:NVT) last posted its earnings results on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The firm had revenue of $880.30 million during the quarter, compared to analysts’ expectations of $892.89 million. nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. nVent Electric’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 earnings per share. Analysts predict that nVent Electric plc will post 3.26 EPS for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is presently 22.16%.

Insider Activity at nVent Electric

In other nVent Electric news, Director Herbert K. Parker purchased 7,566 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of $65.71 per share, with a total value of $497,161.86. Following the completion of the purchase, the director now directly owns 34,524 shares in the company, valued at $2,268,572.04. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Michael B. Faulconer sold 20,004 shares of nVent Electric stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total value of $1,267,053.36. Following the completion of the transaction, the insider now owns 19,766 shares in the company, valued at approximately $1,251,978.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Herbert K. Parker acquired 7,566 shares of nVent Electric stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the purchase, the director now directly owns 34,524 shares of the company’s stock, valued at $2,268,572.04. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.50% of the stock is currently owned by insiders.

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.