Oppenheimer Asset Management Inc. Has $1.05 Million Stake in nVent Electric PLC (NYSE:NVT)

Oppenheimer Asset Management Inc. trimmed its position in shares of nVent Electric PLC (NYSE:NVT) by 9.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,039 shares of the company’s stock after selling 2,058 shares during the period. Oppenheimer Asset Management Inc.’s holdings in nVent Electric were worth $1,050,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Running Oak Capital LLC boosted its stake in shares of nVent Electric by 32.6% in the 1st quarter. Running Oak Capital LLC now owns 270,203 shares of the company’s stock valued at $14,164,000 after purchasing an additional 66,395 shares in the last quarter. Praxis Investment Management Inc. boosted its stake in shares of nVent Electric by 33.8% in the 1st quarter. Praxis Investment Management Inc. now owns 5,350 shares of the company’s stock valued at $280,000 after purchasing an additional 1,350 shares in the last quarter. Johnson Investment Counsel Inc. boosted its stake in shares of nVent Electric by 8.1% in the 1st quarter. Johnson Investment Counsel Inc. now owns 1,704,025 shares of the company’s stock valued at $89,325,000 after purchasing an additional 128,023 shares in the last quarter. Mountain Pacific Investment Advisers LLC boosted its stake in shares of nVent Electric by 8.4% in the 1st quarter. Mountain Pacific Investment Advisers LLC now owns 208,188 shares of the company’s stock valued at $10,913,000 after purchasing an additional 16,138 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of nVent Electric by 6.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 27,252 shares of the company’s stock valued at $1,429,000 after purchasing an additional 1,591 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

nVent Electric Stock Up 0.4%

Shares of NYSE NVT opened at $73.45 on Friday. The company has a 50 day simple moving average of $64.56 and a 200 day simple moving average of $63.07. The firm has a market cap of $12.09 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 1.47 and a beta of 1.30. nVent Electric PLC has a 1 year low of $41.71 and a 1 year high of $81.55. 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 (NYSE:NVT) last issued its quarterly earnings data on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. nVent Electric had a net margin of 18.22% and a return on equity of 13.54%. The business had revenue of $809.30 million during the quarter, compared to analyst estimates of $790.74 million. During the same quarter last year, the business earned $0.78 EPS. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. On average, research analysts forecast that nVent Electric PLC will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.80 annualized dividend and a yield of 1.09%. nVent Electric’s payout ratio is 22.86%.

Insiders Place Their Bets

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $61.35, for a total transaction of $247,915.35. Following the completion of the transaction, the executive vice president now owns 32,665 shares in the company, valued at approximately $2,003,997.75. This trade represents a 11.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

NVT has been the topic of a number of research analyst reports. Barclays raised their price target on shares of nVent Electric from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday, June 9th. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. KeyCorp raised their price objective on shares of nVent Electric from $60.00 to $72.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Citigroup dropped their price objective on shares of nVent Electric from $85.00 to $59.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, 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. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, nVent Electric presently has a consensus rating of “Buy” and an average price target of $70.67.

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.