Baird Financial Group Inc. Purchases 1,591 Shares of nVent Electric plc (NYSE:NVT)

Baird Financial Group Inc. increased its stake in nVent Electric plc (NYSE:NVT) by 10.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 16,156 shares of the company’s stock after purchasing an additional 1,591 shares during the quarter. Baird Financial Group Inc.’s holdings in nVent Electric were worth $1,101,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Quadrant Capital Group LLC raised its holdings in nVent Electric by 4.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company’s stock worth $259,000 after purchasing an additional 150 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in nVent Electric by 26.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock worth $53,000 after purchasing an additional 162 shares during the period. Calamos Advisors LLC raised its holdings in nVent Electric by 1.6% in the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock worth $782,000 after purchasing an additional 176 shares during the period. Utah Retirement Systems raised its holdings in nVent Electric by 2.3% in the 4th quarter. Utah Retirement Systems now owns 8,923 shares of the company’s stock worth $608,000 after purchasing an additional 200 shares during the period. Finally, Hancock Whitney Corp raised its holdings in nVent Electric by 1.4% in the 4th quarter. Hancock Whitney Corp now owns 15,031 shares of the company’s stock worth $1,025,000 after purchasing an additional 206 shares during the period. 90.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Barclays raised their target price on nVent Electric from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Royal Bank of Canada raised their price target on nVent Electric from $73.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, May 5th. Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a report on Friday, March 21st. Citigroup decreased their price target on nVent Electric from $85.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, KeyCorp raised their price target on nVent Electric from $60.00 to $72.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $70.00.

Insider Activity

In related news, EVP Lynnette R. Heath sold 4,041 shares of nVent Electric stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $61.35, for a total value of $247,915.35. Following the completion of the transaction, the executive vice president now owns 32,665 shares in the company, valued at approximately $2,003,997.75. This trade represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.

nVent Electric Trading Up 2.4%

Shares of nVent Electric stock opened at $68.16 on Wednesday. The firm has a market cap of $11.22 billion, a price-to-earnings ratio of 34.78, a PEG ratio of 1.48 and a beta of 1.24. The business has a 50-day moving average price of $54.32 and a 200-day moving average price of $64.78. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. nVent Electric plc has a twelve month low of $41.71 and a twelve month high of $86.57.

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, beating analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $809.30 million during the quarter, compared to analyst estimates of $790.74 million. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 earnings per share. Equities research analysts anticipate that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, April 25th were given a dividend of $0.20 per share. The ex-dividend date was Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.17%. nVent Electric’s payout ratio is 22.86%.

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.