Allworth Financial LP Has $71,000 Holdings in nVent Electric plc (NYSE:NVT)

Allworth Financial LP grew its holdings in nVent Electric plc (NYSE:NVT) by 162.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,204 shares of the company’s stock after purchasing an additional 745 shares during the period. Allworth Financial LP’s holdings in nVent Electric were worth $71,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVT. Quent Capital LLC grew its stake in shares of nVent Electric by 123.2% in the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock valued at $25,000 after buying an additional 234 shares in the last quarter. HM Payson & Co. bought a new position in shares of nVent Electric in the third quarter valued at $26,000. Arlington Trust Co LLC bought a new position in shares of nVent Electric in the third quarter valued at $30,000. Coppell Advisory Solutions LLC bought a new position in shares of nVent Electric in the second quarter valued at $31,000. Finally, Pacific Center for Financial Services bought a new position in shares of nVent Electric in the third quarter valued at $32,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on NVT shares. Royal Bank of Canada raised their target price 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 initiated coverage on shares of nVent Electric in a research report on Monday, March 11th. They set a “buy” rating and a $83.00 price objective for the company. Barclays lifted their price objective on shares of nVent Electric from $74.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Citigroup lifted their price objective on shares of nVent Electric from $71.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, The Goldman Sachs Group lifted their price objective on shares of nVent Electric from $69.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.60.

Insider Activity at nVent Electric

In related news, insider Michael B. Faulconer sold 10,961 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was 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 $2,229,228.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Beth Wozniak sold 198,211 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $64.29, for a total value of $12,742,985.19. Following the completion of the transaction, the chief executive officer now owns 342 shares of the company’s stock, valued at $21,987.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael B. Faulconer sold 10,961 shares of the business’s stock in a transaction dated 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 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. Insiders sold a total of 400,252 shares of company stock valued at $25,713,777 over the last quarter. 2.40% of the stock is owned by corporate insiders.

nVent Electric Stock Down 1.0 %

NVT opened at $74.17 on Friday. nVent Electric plc has a fifty-two week low of $40.19 and a fifty-two week high of $78.98. 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 company has a market capitalization of $12.31 billion, a P/E ratio of 22.01, a P/E/G ratio of 1.61 and a beta of 1.35. The stock has a fifty day moving average of $69.57 and a 200-day moving average of $59.74.

nVent Electric (NYSE:NVT) last posted its earnings results on Tuesday, February 6th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. The company had revenue of $861.20 million during the quarter, compared to the consensus estimate of $866.90 million. During the same quarter last year, the firm earned $0.66 earnings per share. The company’s revenue was up 16.1% on a year-over-year basis. On average, equities analysts expect that nVent Electric plc will post 3.24 EPS for the current year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Thursday, April 25th. nVent Electric’s dividend payout ratio is currently 22.55%.

nVent Electric 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.