Allworth Financial LP Has $48,000 Holdings in nVent Electric PLC (NYSE:NVT)

Allworth Financial LP increased its stake in shares of nVent Electric PLC (NYSE:NVT) by 39.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 876 shares of the company’s stock after acquiring an additional 250 shares during the period. Allworth Financial LP’s holdings in nVent Electric were worth $48,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in NVT. Banque Pictet & Cie SA acquired a new position in shares of nVent Electric during the 1st quarter worth about $292,000. Trium Capital LLP lifted its holdings in shares of nVent Electric by 18.2% during the first quarter. Trium Capital LLP now owns 18,548 shares of the company’s stock worth $972,000 after buying an additional 2,860 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its position in shares of nVent Electric by 1.3% in the first quarter. Linden Thomas Advisory Services LLC now owns 37,414 shares of the company’s stock valued at $1,961,000 after acquiring an additional 462 shares during the period. Greenleaf Trust bought a new stake in shares of nVent Electric in the first quarter valued at approximately $217,000. Finally, Fullcircle Wealth LLC acquired a new stake in shares of nVent Electric in the first quarter worth $229,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

Insider Activity

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the business’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 directly owned 32,665 shares in the company, valued at $2,003,997.75. The trade was a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is owned by company insiders.

nVent Electric Stock Performance

NYSE NVT opened at $75.95 on Friday. nVent Electric PLC has a twelve month low of $41.71 and a twelve month high of $81.20. The company has a quick ratio of 2.42, a current ratio of 2.87 and a debt-to-equity ratio of 0.48. The stock has a market cap of $12.50 billion, a P/E ratio of 21.70, a PEG ratio of 1.53 and a beta of 1.31. The company’s 50-day simple moving average is $70.02 and its 200 day simple moving average is $63.51.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, beating 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 company had revenue of $809.30 million for the quarter, compared to the consensus estimate of $790.74 million. During the same period in the previous year, the business earned $0.78 earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, research analysts forecast that nVent Electric PLC will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Friday, July 18th. nVent Electric’s dividend payout ratio (DPR) is currently 22.86%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on NVT shares. Barclays upped their target price on shares of nVent Electric from $74.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, July 9th. KeyCorp increased their target price on shares of nVent Electric from $78.00 to $84.00 and gave the company an “overweight” rating in a research note on Tuesday. The Goldman Sachs Group lifted their target price on nVent Electric from $78.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday, July 7th. Seaport Res Ptn upgraded nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Finally, Wall Street Zen upgraded nVent Electric from a “hold” rating to a “buy” rating in a research report on Saturday, July 12th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, nVent Electric presently has an average rating of “Buy” and an average target price of $80.33.

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.