Assetmark Inc. Buys 3,938 Shares of nVent Electric PLC $NVT

Assetmark Inc. raised its position in shares of nVent Electric PLC (NYSE:NVT) by 137.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,811 shares of the company’s stock after acquiring an additional 3,938 shares during the quarter. Assetmark Inc.’s holdings in nVent Electric were worth $695,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NVT. Global Trust Asset Management LLC purchased a new position in nVent Electric during the 3rd quarter valued at about $30,000. Root Financial Partners LLC bought a new position in shares of nVent Electric during the third quarter valued at approximately $31,000. Advisory Services Network LLC bought a new position in shares of nVent Electric during the third quarter valued at approximately $35,000. Headlands Technologies LLC lifted its holdings in shares of nVent Electric by 522.9% during the second quarter. Headlands Technologies LLC now owns 517 shares of the company’s stock valued at $38,000 after purchasing an additional 434 shares during the last quarter. Finally, First Horizon Corp purchased a new position in shares of nVent Electric during the third quarter valued at approximately $41,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Roth Mkm upped their price target on nVent Electric from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Monday, March 23rd. KeyCorp boosted their target price on nVent Electric from $125.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Barclays increased their target price on nVent Electric from $141.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 1st. Glj Research began coverage on nVent Electric in a research report on Thursday, March 5th. They issued a “buy” rating and a $151.00 price target for the company. Finally, UBS Group reiterated a “buy” rating and issued a $135.00 price target on shares of nVent Electric in a research note on Friday, March 13th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $144.00.

nVent Electric Trading Up 2.2%

nVent Electric stock opened at $140.08 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.63 and a quick ratio of 1.16. nVent Electric PLC has a one year low of $52.06 and a one year high of $141.00. The stock has a market capitalization of $22.65 billion, a PE ratio of 32.58, a price-to-earnings-growth ratio of 1.42 and a beta of 1.28. The business’s fifty day moving average is $119.81 and its 200 day moving average is $110.96.

nVent Electric (NYSE:NVT) last issued its earnings results on Saturday, February 7th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1 billion. nVent Electric had a return on equity of 15.18% and a net margin of 18.25%.nVent Electric’s revenue was up 41.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.59 EPS. On average, sell-side analysts predict that nVent Electric PLC will post 4.15 EPS for the current year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Friday, April 24th will be issued a $0.21 dividend. The ex-dividend date is Friday, April 24th. This represents a $0.84 annualized dividend and a yield of 0.6%. nVent Electric’s dividend payout ratio (DPR) is currently 19.53%.

Insiders Place Their Bets

In other news, CEO Beth Wozniak sold 7,597 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $116.47, for a total value of $884,822.59. Following the transaction, the chief executive officer directly owned 52,990 shares in the company, valued at $6,171,745.30. This trade represents a 12.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Susan M. Cameron sold 5,000 shares of nVent Electric stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $114.52, for a total value of $572,600.00. Following the completion of the sale, the director directly owned 13,405 shares of the company’s stock, valued at $1,535,140.60. The trade was a 27.17% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 17,841 shares of company stock valued at $2,046,166. Company insiders own 1.70% of the company’s stock.

About nVent Electric

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.