Sequoia Financial Advisors LLC Acquires 1,521 Shares of nVent Electric plc (NYSE:NVT)

Sequoia Financial Advisors LLC boosted its holdings in shares of nVent Electric plc (NYSE:NVT) by 3.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,060 shares of the company’s stock after purchasing an additional 1,521 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in nVent Electric were worth $3,096,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVT. Banque Cantonale Vaudoise bought a new stake in shares of nVent Electric in the first quarter valued at approximately $26,000. UMB Bank n.a. boosted its holdings in nVent Electric by 280.0% in the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 308 shares during the period. ORG Wealth Partners LLC acquired a new stake in nVent Electric in the 3rd quarter worth $29,000. ORG Partners LLC bought a new position in shares of nVent Electric during the 2nd quarter worth about $31,000. Finally, First Foundation Advisors acquired a new position in shares of nVent Electric during the second quarter valued at about $34,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Price Performance

Shares of NVT stock opened at $73.02 on Thursday. The stock’s fifty day simple moving average is $68.45 and its 200 day simple moving average is $73.18. nVent Electric plc has a one year low of $45.60 and a one year high of $86.57. The firm has a market cap of $12.14 billion, a price-to-earnings ratio of 21.35, a P/E/G ratio of 1.54 and a beta of 1.27. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.17 and a quick ratio of 1.49.

nVent Electric (NYSE:NVT) last issued its earnings results on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.01). The firm had revenue of $880.30 million during the quarter, compared to analyst estimates of $892.89 million. nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 EPS. On average, analysts expect that nVent Electric plc will post 3.26 earnings per share 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. Stockholders of record on Friday, October 18th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, October 18th. nVent Electric’s payout ratio is currently 22.22%.

Insider Buying and Selling

In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of nVent Electric stock in a transaction on 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Herbert K. Parker bought 7,566 shares of nVent Electric stock in a transaction dated 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 transaction, the director now owns 34,524 shares of the company’s stock, valued at approximately $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. Also, insider Michael B. Faulconer sold 20,004 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the sale, the insider now directly owns 19,766 shares in the company, valued at $1,251,978.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. 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 report on Wednesday, August 7th. Barclays decreased their price objective on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Finally, KeyCorp upped their target price on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, nVent Electric currently has a consensus rating of “Buy” and a consensus target price of $85.67.

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.