Janney Montgomery Scott LLC Buys 646 Shares of nVent Electric plc (NYSE:NVT)

Janney Montgomery Scott LLC increased its stake in nVent Electric plc (NYSE:NVT) by 7.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,089 shares of the company’s stock after purchasing an additional 646 shares during the period. Janney Montgomery Scott LLC’s holdings in nVent Electric were worth $470,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NVT. EverSource Wealth Advisors LLC increased its position in shares of nVent Electric by 850.8% in the first quarter. EverSource Wealth Advisors LLC now owns 599 shares of the company’s stock worth $26,000 after purchasing an additional 536 shares during the last quarter. Harbor Investment Advisory LLC bought a new position in shares of nVent Electric in the second quarter worth approximately $26,000. Altshuler Shaham Ltd bought a new position in shares of nVent Electric in the first quarter worth approximately $28,000. Arlington Partners LLC bought a new position in shares of nVent Electric in the second quarter worth approximately $29,000. Finally, BOKF NA bought a new position in shares of nVent Electric in the first quarter worth approximately $41,000. 87.76% of the stock is currently owned by institutional investors.

nVent Electric Stock Performance

NYSE:NVT opened at $47.71 on Tuesday. The firm has a market cap of $7.91 billion, a PE ratio of 17.04 and a beta of 1.32. nVent Electric plc has a fifty-two week low of $35.40 and a fifty-two week high of $58.98. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.27 and a current ratio of 1.97. The business has a 50 day moving average price of $53.05 and a 200-day moving average price of $49.78.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Friday, October 27th. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.11. nVent Electric had a return on equity of 17.44% and a net margin of 14.98%. The firm had revenue of $859.00 million during the quarter, compared to analyst estimates of $881.99 million. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. Equities research analysts predict that nVent Electric plc will post 3.02 earnings per share for the current year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 3rd. Investors of record on Friday, October 20th will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Thursday, October 19th. nVent Electric’s payout ratio is 25.00%.

Analysts Set New Price Targets

NVT has been the subject of several research reports. William Blair initiated coverage on nVent Electric in a research note on Thursday, July 27th. They issued an “outperform” rating for the company. Barclays cut their target price on nVent Electric from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday. Royal Bank of Canada cut their target price on nVent Electric from $60.00 to $57.00 and set an “outperform” rating for the company in a research note on Monday. Seaport Res Ptn reaffirmed a “neutral” rating on shares of nVent Electric in a research note on Monday, August 7th. Finally, Citigroup started coverage on nVent Electric in a research note on Tuesday, October 3rd. They issued a “buy” rating and a $62.00 target price for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.50.

Insider Buying and Selling

In related news, insider Joseph A. Ruzynski sold 4,711 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $54.66, for a total value of $257,503.26. Following the completion of the sale, the insider now owns 38,440 shares of the company’s stock, valued at $2,101,130.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Randolph A. Wacker sold 1,519 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $55.21, for a total value of $83,863.99. Following the completion of the sale, the chief accounting officer now owns 20,366 shares of the company’s stock, valued at $1,124,406.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joseph A. Ruzynski sold 4,711 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $54.66, for a total value of $257,503.26. Following the completion of the transaction, the insider now owns 38,440 shares of the company’s stock, valued at approximately $2,101,130.40. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.

nVent Electric Profile

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; indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals; and metallic and non-metallic enclosures, cabinets, sub racks, and backplanes.