nVent Electric PLC (NYSE:NVT) Stock Position Lessened by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. decreased its holdings in nVent Electric PLC (NYSE:NVT) by 69.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,026 shares of the company’s stock after selling 22,424 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in nVent Electric were worth $526,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of NVT. Capital A Wealth Management LLC acquired a new stake in shares of nVent Electric in the fourth quarter valued at $27,000. Park Square Financial Group LLC purchased a new stake in shares of nVent Electric during the fourth quarter valued at $38,000. Whipplewood Advisors LLC lifted its holdings in shares of nVent Electric by 467.3% during the first quarter. Whipplewood Advisors LLC now owns 607 shares of the company’s stock valued at $32,000 after purchasing an additional 500 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of nVent Electric during the fourth quarter valued at $65,000. Finally, Huntington National Bank lifted its holdings in shares of nVent Electric by 60.9% during the fourth quarter. Huntington National Bank now owns 985 shares of the company’s stock valued at $67,000 after purchasing an additional 373 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

Insider Transactions at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the firm’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $61.35, for a total value of $247,915.35. Following the transaction, the executive vice president now directly owns 32,665 shares of the company’s stock, valued at $2,003,997.75. This trade represents a 11.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by corporate insiders.

nVent Electric Stock Up 1.8%

NYSE NVT opened at $73.27 on Friday. The stock has a fifty day moving average of $64.09 and a 200-day moving average of $63.16. The stock has a market capitalization of $12.06 billion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 1.44 and a beta of 1.30. nVent Electric PLC has a 52 week low of $41.71 and a 52 week high of $81.55. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.42 and a current ratio of 2.87.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Friday, May 2nd. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. nVent Electric had a return on equity of 13.54% and a net margin of 18.22%. The business had revenue of $809.30 million during the quarter, compared to analysts’ expectations of $790.74 million. During the same period in the previous year, the firm earned $0.78 earnings per share. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts forecast that nVent Electric PLC will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.09%. nVent Electric’s dividend payout ratio (DPR) is currently 22.86%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NVT. KeyCorp increased their price objective on nVent Electric from $60.00 to $72.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. 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 research note on Monday, March 17th. Barclays increased their price objective on nVent Electric from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Monday, June 9th. Citigroup reduced their price objective on nVent Electric from $85.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Royal Bank Of Canada increased their price objective on nVent Electric from $73.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, May 5th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $70.67.

nVent Electric Company 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.