13,886 Shares in nVent Electric plc (NYSE:NVT) Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC bought a new stake in nVent Electric plc (NYSE:NVT) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 13,886 shares of the company’s stock, valued at approximately $821,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Citigroup Inc. lifted its stake in nVent Electric by 73.9% in the third quarter. Citigroup Inc. now owns 71,372 shares of the company’s stock valued at $3,782,000 after purchasing an additional 30,325 shares during the last quarter. Mariner LLC boosted its stake in nVent Electric by 10.1% during the third quarter. Mariner LLC now owns 24,649 shares of the company’s stock valued at $1,306,000 after buying an additional 2,263 shares during the period. LPL Financial LLC grew its position in nVent Electric by 2.0% during the third quarter. LPL Financial LLC now owns 172,171 shares of the company’s stock worth $9,123,000 after buying an additional 3,418 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of nVent Electric by 10.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,006,320 shares of the company’s stock valued at $53,325,000 after acquiring an additional 91,709 shares in the last quarter. Finally, Oliver Luxxe Assets LLC boosted its position in shares of nVent Electric by 150.4% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 55,153 shares of the company’s stock valued at $2,923,000 after acquiring an additional 33,127 shares during the last quarter. 90.05% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Jerry W. Burris sold 4,008 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $63.39, for a total transaction of $254,067.12. Following the sale, the director now owns 43,072 shares of the company’s stock, valued at approximately $2,730,334.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Jerry W. Burris sold 4,008 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $63.39, for a total transaction of $254,067.12. Following the transaction, the director now directly owns 43,072 shares of the company’s stock, valued at approximately $2,730,334.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph A. Ruzynski sold 2,500 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $64.23, for a total value of $160,575.00. Following the completion of the transaction, the insider now owns 36,013 shares in the company, valued at $2,313,114.99. The disclosure for this sale can be found here. In the last 90 days, insiders sold 400,252 shares of company stock valued at $25,713,777. 2.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Citigroup raised their target price on shares of nVent Electric from $71.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Barclays raised their price objective on shares of nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. 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 target price for the company. The Goldman Sachs Group raised their price target on nVent Electric from $69.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Finally, Royal Bank of Canada lifted their price target on nVent Electric from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $81.60.

nVent Electric Trading Up 1.8 %

Shares of NYSE NVT opened at $72.49 on Wednesday. The company has a market cap of $12.03 billion, a PE ratio of 21.51, a P/E/G ratio of 1.54 and a beta of 1.35. 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’s 50 day moving average price is $70.84 and its 200-day moving average price is $60.77. nVent Electric plc has a 52-week low of $40.19 and a 52-week high of $78.98.

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

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.76 annualized dividend and a yield of 1.05%. nVent Electric’s payout ratio is 22.55%.

About nVent Electric

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.