416 Shares in nVent Electric plc (NYSE:NVT) Purchased by ORG Wealth Partners LLC

ORG Wealth Partners LLC bought a new stake in shares of nVent Electric plc (NYSE:NVT) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 416 shares of the company’s stock, valued at approximately $29,000.

Other large investors also recently modified their holdings of the company. Millennium Management LLC grew its holdings in nVent Electric by 159.9% during the second quarter. Millennium Management LLC now owns 1,346,576 shares of the company’s stock valued at $103,161,000 after purchasing an additional 828,425 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of nVent Electric by 16.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock valued at $374,201,000 after buying an additional 673,990 shares during the last quarter. Jennison Associates LLC bought a new position in shares of nVent Electric during the 1st quarter worth $22,784,000. DigitalBridge Group Inc. purchased a new stake in nVent Electric in the 2nd quarter worth about $21,291,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in nVent Electric by 47.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 783,462 shares of the company’s stock valued at $60,021,000 after acquiring an additional 253,871 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NVT. Royal Bank of Canada reduced 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 reduced their price objective on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Finally, KeyCorp increased their target price on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, nVent Electric presently has a consensus rating of “Buy” and a consensus target price of $85.67.

nVent Electric Stock Performance

NYSE NVT opened at $73.37 on Wednesday. The company’s 50 day simple moving average is $67.07 and its two-hundred day simple moving average is $73.23. 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 plc has a 1 year low of $45.60 and a 1 year high of $86.57. The stock has a market capitalization of $12.18 billion, a PE ratio of 21.39, a P/E/G ratio of 1.47 and a beta of 1.27.

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

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Friday, October 18th. nVent Electric’s dividend payout ratio is currently 22.16%.

Insider Activity at nVent Electric

In other news, EVP Lynnette R. Heath sold 8,242 shares of the stock in a transaction on 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 of the company’s stock, valued at $1,833,832.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Lynnette R. Heath sold 8,242 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total value of $496,662.92. Following the completion of the transaction, the executive vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $1,267,053.36. Following the completion of the transaction, the insider now directly owns 19,766 shares in the company, valued at approximately $1,251,978.44. This represents a 0.00 % decrease in their position. The disclosure for this sale 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.