4,324 Shares in nVent Electric plc (NYSE:NVT) Purchased by Raymond James Trust N.A.

Raymond James Trust N.A. purchased a new stake in shares of nVent Electric plc (NYSE:NVTFree Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,324 shares of the company’s stock, valued at approximately $256,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of nVent Electric by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 17,799,850 shares of the company’s stock worth $619,079,000 after acquiring an additional 302,124 shares in the last quarter. BlackRock Inc. boosted its stake in nVent Electric by 0.8% in the first quarter. BlackRock Inc. now owns 15,251,841 shares of the company’s stock worth $654,914,000 after purchasing an additional 128,168 shares in the last quarter. FMR LLC grew its holdings in shares of nVent Electric by 41.8% during the third quarter. FMR LLC now owns 6,556,055 shares of the company’s stock worth $347,405,000 after purchasing an additional 1,932,142 shares during the last quarter. State Street Corp increased its stake in shares of nVent Electric by 1.7% in the first quarter. State Street Corp now owns 4,842,509 shares of the company’s stock valued at $207,932,000 after buying an additional 81,399 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of nVent Electric by 68.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,952,040 shares of the company’s stock valued at $209,419,000 after buying an additional 1,604,534 shares during the last quarter. 87.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NVT has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their price objective on shares of nVent Electric from $69.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Royal Bank of Canada increased their price target on shares of nVent Electric from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of nVent Electric in a research report on Monday, March 11th. They issued a “buy” rating and a $83.00 price objective for the company. Finally, Citigroup increased their price objective on nVent Electric from $59.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, December 11th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $72.20.

Read Our Latest Stock Report on nVent Electric

Insiders Place Their Bets

In other news, insider Michael B. Faulconer sold 10,961 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $67.33, for a total value of $738,004.13. Following the completion of the transaction, the insider now owns 33,109 shares of the company’s stock, valued at approximately $2,229,228.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other nVent Electric news, CEO Beth Wozniak sold 198,211 shares of nVent Electric stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $64.29, for a total value of $12,742,985.19. Following the transaction, the chief executive officer now owns 342 shares of the company’s stock, valued at $21,987.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael B. Faulconer sold 10,961 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $67.33, for a total transaction of $738,004.13. Following the sale, the insider now directly owns 33,109 shares of the company’s stock, valued at approximately $2,229,228.97. The disclosure for this sale can be found here. Over the last three months, insiders have sold 400,252 shares of company stock worth $25,713,777. Company insiders own 2.40% of the company’s stock.

nVent Electric Price Performance

NVT opened at $74.91 on Wednesday. The company has a fifty day moving average price of $64.90 and a two-hundred day moving average price of $57.79. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.82. The firm has a market capitalization of $12.37 billion, a PE ratio of 22.23, a P/E/G ratio of 1.57 and a beta of 1.34. nVent Electric plc has a 52 week low of $40.19 and a 52 week high of $75.29.

nVent Electric (NYSE:NVTGet Free Report) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. The business had revenue of $861.20 million during the quarter, compared to the consensus estimate of $866.90 million. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. The firm’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 earnings per share. As a group, analysts anticipate that nVent Electric plc will post 3.24 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Thursday, April 25th. nVent Electric’s payout ratio is presently 22.55%.

nVent Electric Profile

(Free Report)

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.

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

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