First Citizens Bank & Trust Co. Buys 612 Shares of nVent Electric plc (NYSE:NVT)

First Citizens Bank & Trust Co. grew its stake in shares of nVent Electric plc (NYSE:NVT) by 16.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,434 shares of the company’s stock after buying an additional 612 shares during the period. First Citizens Bank & Trust Co.’s holdings in nVent Electric were worth $302,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NVT. Bank of Montreal Can lifted its stake in nVent Electric by 52.1% in the 2nd quarter. Bank of Montreal Can now owns 106,410 shares of the company’s stock worth $8,251,000 after purchasing an additional 36,433 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of nVent Electric in the second quarter worth $2,496,000. MBB Public Markets I LLC purchased a new position in nVent Electric during the second quarter worth about $733,000. Scientech Research LLC bought a new position in nVent Electric in the 2nd quarter worth about $244,000. Finally, Susquehanna Fundamental Investments LLC raised its holdings in shares of nVent Electric by 257.0% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 17,495 shares of the company’s stock valued at $1,340,000 after acquiring an additional 12,595 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Stock Performance

nVent Electric stock opened at $63.05 on Wednesday. The firm has a fifty day simple moving average of $72.92 and a two-hundred day simple moving average of $70.98. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. nVent Electric plc has a twelve month low of $56.44 and a twelve month high of $86.57. The company has a market capitalization of $10.39 billion, a PE ratio of 18.49, a P/E/G ratio of 3.49 and a beta of 1.27.

nVent Electric (NYSE:NVT) last released its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The company had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. During the same period last year, the firm posted $0.84 EPS. The company’s revenue was up 9.4% on a year-over-year basis. Research analysts expect that nVent Electric plc will post 2.49 EPS for the current year.

nVent Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.27%. This is an increase from nVent Electric’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, January 17th. nVent Electric’s payout ratio is presently 23.46%.

Insider Activity at nVent Electric

In other news, Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the sale, the director now directly owns 45,040 shares in the company, valued at approximately $3,603,200. This trade represents a 12.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sara E. Zawoyski sold 14,505 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total value of $1,113,403.80. Following the transaction, the chief financial officer now owns 62,215 shares of the company’s stock, valued at approximately $4,775,623.40. This represents a 18.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 96,382 shares of company stock worth $7,365,956 in the last three months. 2.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on NVT shares. Barclays upped their price objective on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Royal Bank of Canada raised their price objective on shares of nVent Electric from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. KeyCorp upped their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, Citigroup lowered their price target on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, nVent Electric has an average rating of “Buy” and a consensus target price of $86.17.

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.