SeaCrest Wealth Management LLC Invests $39,000 in nVent Electric plc (NYSE:NVT)

SeaCrest Wealth Management LLC acquired a new position in shares of nVent Electric plc (NYSE:NVTGet Rating) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,253 shares of the company’s stock, valued at approximately $39,000.

Several other hedge funds have also made changes to their positions in NVT. LS Investment Advisors LLC purchased a new position in shares of nVent Electric in the 2nd quarter worth $29,000. CX Institutional purchased a new position in shares of nVent Electric in the 2nd quarter worth $32,000. Venture Visionary Partners LLC purchased a new position in shares of nVent Electric in the 2nd quarter worth $58,000. Lazard Asset Management LLC raised its position in shares of nVent Electric by 44.1% in the 2nd quarter. Lazard Asset Management LLC now owns 5,600 shares of the company’s stock worth $175,000 after buying an additional 1,714 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of nVent Electric in the 1st quarter worth $210,000. Institutional investors and hedge funds own 88.28% of the company’s stock.

nVent Electric Stock Down 0.9 %

Shares of nVent Electric stock opened at $39.00 on Tuesday. The business has a 50-day moving average of $34.59 and a 200-day moving average of $34.02. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.88 and a quick ratio of 1.30. The company has a market capitalization of $6.50 billion, a PE ratio of 21.43 and a beta of 1.39. nVent Electric plc has a 1-year low of $29.19 and a 1-year high of $39.97.

nVent Electric (NYSE:NVTGet Rating) last announced its earnings results on Friday, October 28th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.07. The company had revenue of $745.20 million during the quarter, compared to the consensus estimate of $711.50 million. nVent Electric had a return on equity of 14.69% and a net margin of 10.86%. As a group, equities analysts forecast that nVent Electric plc will post 2.31 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 4th. Investors of record on Friday, October 21st were paid a $0.175 dividend. The ex-dividend date was Thursday, October 20th. This represents a $0.70 dividend on an annualized basis and a yield of 1.79%. nVent Electric’s dividend payout ratio (DPR) is 38.46%.

Insider Buying and Selling

In related news, insider Joseph A. Ruzynski sold 2,800 shares of nVent Electric stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $39.22, for a total value of $109,816.00. Following the completion of the transaction, the insider now directly owns 24,194 shares in the company, valued at $948,888.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Joseph A. Ruzynski sold 2,800 shares of nVent Electric stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $39.22, for a total value of $109,816.00. Following the completion of the transaction, the insider now directly owns 24,194 shares in the company, valued at $948,888.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jerry W. Burris sold 3,947 shares of nVent Electric stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $36.84, for a total value of $145,407.48. Following the completion of the transaction, the director now owns 40,621 shares of the company’s stock, valued at $1,496,477.64. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on NVT. Barclays increased their target price on nVent Electric from $47.00 to $49.00 and gave the stock an “overweight” rating in a research report on Monday, October 31st. Royal Bank of Canada raised their price objective on nVent Electric from $38.00 to $41.00 and gave the company an “outperform” rating in a research report on Monday, October 31st. Finally, Loop Capital initiated coverage on nVent Electric in a research report on Friday, October 7th. They issued a “hold” rating and a $34.00 price objective on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.40.

nVent Electric Company Profile

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nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products worldwide. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to connect and protect critical electronics, communication, control, and power equipment; physical infrastructure solutions to host, connect, and protect server and network equipment; and indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals.

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Institutional Ownership by Quarter for nVent Electric (NYSE:NVT)

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