Sei Investments Co. Has $9.60 Million Stock Position in nVent Electric plc (NYSE:NVT)

Sei Investments Co. lifted its stake in shares of nVent Electric plc (NYSE:NVT) by 6.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 125,269 shares of the company’s stock after purchasing an additional 7,419 shares during the period. Sei Investments Co.’s holdings in nVent Electric were worth $9,598,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. increased its stake in shares of nVent Electric by 200.9% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 26,827 shares of the company’s stock worth $1,585,000 after purchasing an additional 17,910 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of nVent Electric by 3.8% during the 4th quarter. Stifel Financial Corp now owns 108,163 shares of the company’s stock worth $6,391,000 after acquiring an additional 4,008 shares during the period. Treasurer of the State of North Carolina increased its holdings in shares of nVent Electric by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 72,959 shares of the company’s stock worth $4,311,000 after acquiring an additional 710 shares during the last quarter. TFO Wealth Partners LLC lifted its holdings in nVent Electric by 112,340.0% during the 4th quarter. TFO Wealth Partners LLC now owns 5,622 shares of the company’s stock valued at $332,000 after purchasing an additional 5,617 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its holdings in shares of nVent Electric by 1.9% in the fourth quarter. Eagle Asset Management Inc. now owns 400,502 shares of the company’s stock valued at $23,666,000 after purchasing an additional 7,592 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Price Performance

Shares of nVent Electric stock opened at $70.92 on Friday. The company has a quick ratio of 1.49, a current ratio of 2.17 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $11.77 billion, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 1.35 and a beta of 1.27. nVent Electric plc has a twelve month low of $45.60 and a twelve month high of $86.57. The company has a 50-day simple moving average of $66.77 and a two-hundred day simple moving average of $73.37.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share 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 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 quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 earnings per share. Analysts forecast that nVent Electric plc will post 3.26 EPS for the current year.

nVent Electric Dividend Announcement

The business 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 dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is currently 22.16%.

Insider Buying and Selling

In related news, EVP Lynnette R. Heath sold 8,242 shares of the company’s 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 completion of the sale, the executive vice president now owns 30,432 shares of the company’s stock, valued at $1,833,832.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Herbert K. Parker acquired 7,566 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost 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 of the company’s stock, valued at approximately $2,268,572.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lynnette R. Heath sold 8,242 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total value of $496,662.92. Following the sale, the executive vice president now owns 30,432 shares of the company’s stock, valued at $1,833,832.32. The disclosure for this sale can be found here. 2.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Royal Bank of Canada cut their target price 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. Barclays boosted their price objective on nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, June 4th. Finally, KeyCorp upgraded nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 target price on the stock in a research note on Wednesday, September 4th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $86.50.

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.