Signaturefd LLC Raises Position in nVent Electric plc (NYSE:NVT)

Signaturefd LLC lifted its stake in shares of nVent Electric plc (NYSE:NVT) by 63.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,409 shares of the company’s stock after buying an additional 549 shares during the quarter. Signaturefd LLC’s holdings in nVent Electric were worth $99,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of NVT. 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 worth $29,000 after buying an additional 308 shares during the period. ORG Wealth Partners LLC bought a new position in nVent Electric in the 3rd quarter worth approximately $29,000. ORG Partners LLC bought a new position in nVent Electric in the 2nd quarter worth approximately $31,000. First Foundation Advisors bought a new position in nVent Electric in the 2nd quarter valued at $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in nVent Electric in the 2nd quarter valued at $34,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Barclays cut their price target on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. KeyCorp raised their price target on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Royal Bank of Canada dropped their price objective on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $85.67.

nVent Electric Stock Performance

NYSE NVT opened at $74.83 on Tuesday. nVent Electric plc has a 52-week low of $46.63 and a 52-week high of $86.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 2.17. The company has a market capitalization of $12.44 billion, a P/E ratio of 21.88, a P/E/G ratio of 1.50 and a beta of 1.27. The company has a fifty day moving average of $68.91 and a 200-day moving average of $73.13.

nVent Electric (NYSE:NVT) last issued 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 business 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 revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 EPS. As a group, equities research 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 given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Friday, October 18th. nVent Electric’s payout ratio is presently 22.22%.

Insider Buying and Selling

In other nVent Electric news, EVP Lynnette R. Heath sold 8,242 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total value of $496,662.92. Following the transaction, the executive vice president now owns 30,432 shares in the company, valued at approximately $1,833,832.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Lynnette R. Heath sold 8,242 shares of nVent Electric stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total transaction of $496,662.92. Following the sale, the executive vice president now owns 30,432 shares of the company’s stock, valued at approximately $1,833,832.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Herbert K. Parker bought 7,566 shares of the business’s 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 purchase, the director now directly owns 34,524 shares in the company, valued at approximately $2,268,572.04. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 2.50% of the stock is owned by corporate 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.