nVent Electric PLC (NYSE:NVT) Holdings Lifted by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. increased its holdings in shares of nVent Electric PLC (NYSE:NVT) by 47.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,261 shares of the company’s stock after buying an additional 3,621 shares during the quarter. Avantax Advisory Services Inc.’s holdings in nVent Electric were worth $590,000 as of its most recent filing with the Securities and Exchange Commission.

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

nVent Electric Price Performance

Shares of NYSE:NVT opened at $90.27 on Tuesday. The business has a 50 day moving average price of $73.00 and a 200 day moving average price of $64.17. nVent Electric PLC has a twelve month low of $41.71 and a twelve month high of $91.52. The company has a market cap of $14.86 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 1.69 and a beta of 1.35. The company has a quick ratio of 1.20, a current ratio of 1.67 and a debt-to-equity ratio of 0.50.

nVent Electric (NYSE:NVT) last announced its earnings results on Friday, August 1st. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.07. nVent Electric had a return on equity of 13.36% and a net margin of 17.72%. The firm had revenue of $963.10 million during the quarter, compared to the consensus estimate of $906.96 million. During the same quarter in the prior year, the company earned $0.82 EPS. The firm’s revenue for the quarter was up 30.1% compared to the same quarter last year. Research analysts predict that nVent Electric PLC will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Saturday, January 1st were paid a dividend of $0.20 per share. The ex-dividend date was Friday, July 18th. This represents a $0.80 annualized dividend and a yield of 0.9%. nVent Electric’s dividend payout ratio is presently 22.79%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Barclays upped their price target on nVent Electric from $74.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 9th. Royal Bank Of Canada upped their price target on nVent Electric from $85.00 to $102.00 and gave the stock an “outperform” rating in a research note on Monday. The Goldman Sachs Group upped their price target on nVent Electric from $78.00 to $87.00 and gave the stock a “buy” rating in a research note on Monday, July 7th. Citigroup upped their price target on nVent Electric from $69.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Finally, Roth Capital reiterated a “buy” rating and set a $100.00 price target (up previously from $89.00) on shares of nVent Electric in a research note on Monday. Eight 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, the stock currently has a consensus rating of “Buy” and an average target price of $87.00.

Insiders Place Their Bets

In related news, EVP Lynnette R. Heath sold 4,041 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total transaction 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. This represents a 11.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.50% of the stock is currently owned by insiders.

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.