Cwm LLC Purchases 3,048 Shares of nVent Electric PLC (NYSE:NVT)

Cwm LLC grew its position in nVent Electric PLC (NYSE:NVT) by 83.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,697 shares of the company’s stock after acquiring an additional 3,048 shares during the period. Cwm LLC’s holdings in nVent Electric were worth $351,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital A Wealth Management LLC bought a new position in shares of nVent Electric in the 4th quarter valued at about $27,000. Park Square Financial Group LLC bought a new position in shares of nVent Electric in the 4th quarter valued at about $38,000. Whipplewood Advisors LLC grew its position in shares of nVent Electric by 467.3% in the 1st quarter. Whipplewood Advisors LLC now owns 607 shares of the company’s stock valued at $32,000 after acquiring an additional 500 shares during the period. Hughes Financial Services LLC bought a new position in shares of nVent Electric in the 1st quarter valued at about $36,000. Finally, First Horizon Advisors Inc. grew its position in shares of nVent Electric by 58.0% in the 1st quarter. First Horizon Advisors Inc. now owns 817 shares of the company’s stock valued at $43,000 after acquiring an additional 300 shares during the period. Institutional investors own 90.05% of the company’s stock.

Insiders Place Their Bets

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of nVent Electric 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 completion of the sale, the executive vice president owned 32,665 shares in the company, valued at $2,003,997.75. The trade was a 11.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by company insiders.

nVent Electric Price Performance

Shares of nVent Electric stock opened at $78.66 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 company has a 50-day simple moving average of $70.92 and a two-hundred day simple moving average of $63.74. The stock has a market capitalization of $12.95 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 1.53 and a beta of 1.31.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $790.74 million. During the same quarter in the previous year, the company earned $0.78 EPS. The business’s revenue was up 10.5% on a year-over-year basis. Analysts forecast that nVent Electric PLC will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Friday, July 18th. nVent Electric’s dividend payout ratio (DPR) is 22.86%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Barclays lifted their target price on shares of nVent Electric from $74.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, July 9th. Wall Street Zen raised shares of nVent Electric from a “hold” rating to a “buy” rating in a report on Saturday, July 12th. The Goldman Sachs Group lifted their target price on shares of nVent Electric from $78.00 to $87.00 and gave the stock a “buy” rating in a report on Monday, July 7th. Royal Bank Of Canada lifted their target price on shares of nVent Electric from $73.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. Finally, Citigroup lifted their target price on shares of nVent Electric from $69.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, July 14th. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $81.57.

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.