Waverly Advisors LLC Has $5.38 Million Stake in nVent Electric plc (NYSE:NVT)

Waverly Advisors LLC increased its position in nVent Electric plc (NYSE:NVT) by 1.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 78,884 shares of the company’s stock after purchasing an additional 828 shares during the period. Waverly Advisors LLC’s holdings in nVent Electric were worth $5,377,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVT. HB Wealth Management LLC acquired a new position in nVent Electric in the 4th quarter worth approximately $272,000. Diversify Wealth Management LLC boosted its stake in nVent Electric by 39.2% in the 4th quarter. Diversify Wealth Management LLC now owns 9,220 shares of the company’s stock worth $635,000 after purchasing an additional 2,596 shares during the period. UMB Bank n.a. boosted its stake in nVent Electric by 269.6% in the 4th quarter. UMB Bank n.a. now owns 1,545 shares of the company’s stock worth $105,000 after purchasing an additional 1,127 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake 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. Finally, Mountain Pacific Investment Advisers LLC boosted its stake in nVent Electric by 14.9% in the 4th quarter. Mountain Pacific Investment Advisers LLC now owns 192,050 shares of the company’s stock worth $13,090,000 after purchasing an additional 24,900 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on NVT. Citigroup decreased their price objective on shares of nVent Electric from $85.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. Barclays increased their target price on shares of nVent Electric from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Royal Bank of Canada increased their target price on shares of nVent Electric from $73.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, May 5th. Finally, The Goldman Sachs Group cut their target price on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $70.00.

Insider Activity

In other news, EVP Lynnette R. Heath sold 4,041 shares of the firm’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $61.35, for a total transaction of $247,915.35. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is owned by insiders.

nVent Electric Stock Down 0.8%

NVT stock opened at $66.00 on Wednesday. The company has a market cap of $10.87 billion, a price-to-earnings ratio of 33.67, a PEG ratio of 1.48 and a beta of 1.24. The company has a 50 day moving average of $55.56 and a two-hundred day moving average of $64.56. 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 12-month low of $41.71 and a 12-month high of $86.57.

nVent Electric (NYSE:NVT) last released its quarterly earnings results 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 business had revenue of $809.30 million for the quarter, compared to the consensus estimate of $790.74 million. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. nVent Electric’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. On average, equities analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.21%. nVent Electric’s dividend payout ratio is currently 22.86%.

nVent Electric Company 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.