SG Americas Securities LLC Acquires Shares of 15,552 nVent Electric PLC (NYSE:NVT)

SG Americas Securities LLC bought a new position in shares of nVent Electric PLC (NYSE:NVT) during the first quarter, according to its most recent filing with the SEC. The fund bought 15,552 shares of the company’s stock, valued at approximately $815,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Capital Research Global Investors purchased a new position in shares of nVent Electric in the fourth quarter valued at $384,749,000. Norges Bank purchased a new position in nVent Electric during the 4th quarter valued at about $197,434,000. William Blair Investment Management LLC increased its position in shares of nVent Electric by 8.8% during the fourth quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company’s stock valued at $176,630,000 after buying an additional 210,690 shares during the period. Millennium Management LLC lifted its holdings in shares of nVent Electric by 743.7% in the fourth quarter. Millennium Management LLC now owns 2,215,624 shares of the company’s stock worth $151,017,000 after buying an additional 1,953,026 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of nVent Electric by 15.0% in the fourth quarter. Invesco Ltd. now owns 1,723,868 shares of the company’s stock worth $117,499,000 after buying an additional 224,657 shares in the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total value of $247,915.35. Following the sale, the executive vice president now owns 32,665 shares in the company, valued at $2,003,997.75. This trade represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Monday, March 17th. KeyCorp boosted their price target on shares of nVent Electric from $60.00 to $72.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Seaport Res Ptn raised shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a report on Friday, March 21st. The Goldman Sachs Group dropped their price objective on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Finally, Barclays increased their target price on nVent Electric from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday, June 9th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, nVent Electric has a consensus rating of “Buy” and a consensus price target of $70.67.

nVent Electric Stock Performance

Shares of NVT opened at $70.55 on Friday. The firm has a market capitalization of $11.62 billion, a P/E ratio of 20.16, a PEG ratio of 1.41 and a beta of 1.30. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.87 and a quick ratio of 2.42. nVent Electric PLC has a one year low of $41.71 and a one year high of $81.55. The business has a fifty day moving average of $61.91 and a 200 day moving average of $63.36.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Friday, May 2nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. nVent Electric had a return on equity of 13.54% and a net margin of 18.22%. The firm had revenue of $809.30 million during the quarter, compared to analyst estimates of $790.74 million. During the same period in the prior year, the business posted $0.78 EPS. nVent Electric’s revenue was up 10.5% on a year-over-year basis. As a group, sell-side analysts anticipate that nVent Electric PLC will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, July 18th. nVent Electric’s payout ratio is 22.86%.

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.