Creative Planning Increases Stock Holdings in nVent Electric plc (NYSE:NVT)

Creative Planning raised its holdings in nVent Electric plc (NYSE:NVT) by 16.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 23,191 shares of the company’s stock after acquiring an additional 3,277 shares during the quarter. Creative Planning’s holdings in nVent Electric were worth $1,629,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. State of Michigan Retirement System raised its holdings in shares of nVent Electric by 2.3% in the first quarter. State of Michigan Retirement System now owns 40,706 shares of the company’s stock worth $3,069,000 after buying an additional 900 shares during the last quarter. Van ECK Associates Corp raised its stake in nVent Electric by 36.5% in the 1st quarter. Van ECK Associates Corp now owns 57,767 shares of the company’s stock worth $4,356,000 after acquiring an additional 15,450 shares during the last quarter. Norden Group LLC lifted its position in nVent Electric by 17.8% during the 1st quarter. Norden Group LLC now owns 17,158 shares of the company’s stock worth $1,294,000 after acquiring an additional 2,592 shares during the period. Private Advisor Group LLC grew its stake in nVent Electric by 6.1% during the 1st quarter. Private Advisor Group LLC now owns 6,598 shares of the company’s stock valued at $498,000 after purchasing an additional 382 shares during the last quarter. Finally, Diversify Advisory Services LLC acquired a new position in shares of nVent Electric in the first quarter valued at about $464,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In other nVent Electric news, Director Herbert K. Parker purchased 7,566 shares of nVent Electric stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of $65.71 per share, with a total value of $497,161.86. Following the acquisition, the director now owns 34,524 shares of the company’s stock, valued at $2,268,572.04. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of the stock in a transaction 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 transaction, the insider now directly owns 19,766 shares of the company’s stock, valued at $1,251,978.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction 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, with a total value of $497,161.86. Following the purchase, the director now directly owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.50% of the company’s stock.

nVent Electric Trading Down 0.3 %

Shares of NYSE:NVT opened at $74.59 on Wednesday. The company has a current ratio of 2.17, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53. nVent Electric plc has a 12-month low of $46.63 and a 12-month high of $86.57. The business has a 50 day moving average of $69.10 and a two-hundred day moving average of $73.14. The company has a market capitalization of $12.38 billion, a PE ratio of 21.75, a PEG ratio of 1.50 and a beta of 1.27.

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

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, October 18th. nVent Electric’s payout ratio is currently 22.16%.

nVent Electric 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.