nVent Electric PLC (NYSE:NVT) Shares Sold by Security National Bank

Security National Bank lessened its holdings in shares of nVent Electric PLC (NYSE:NVT) by 3.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 46,567 shares of the company’s stock after selling 1,509 shares during the quarter. Security National Bank’s holdings in nVent Electric were worth $2,441,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of NVT. Lecap Asset Management Ltd. lifted its holdings in nVent Electric by 325.6% in the first quarter. Lecap Asset Management Ltd. now owns 65,740 shares of the company’s stock worth $3,446,000 after purchasing an additional 50,295 shares during the period. Silver Lake Advisory LLC bought a new stake in shares of nVent Electric during the 1st quarter worth about $1,649,000. Figure 8 Investment Strategies LLC acquired a new stake in shares of nVent Electric in the 1st quarter worth approximately $571,000. Running Oak Capital LLC boosted its holdings in shares of nVent Electric by 32.6% in the first quarter. Running Oak Capital LLC now owns 270,203 shares of the company’s stock valued at $14,164,000 after acquiring an additional 66,395 shares in the last quarter. Finally, Praxis Investment Management Inc. boosted its holdings in shares of nVent Electric by 33.8% in the first quarter. Praxis Investment Management Inc. now owns 5,350 shares of the company’s stock valued at $280,000 after acquiring an additional 1,350 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

nVent Electric Price Performance

Shares of NYSE:NVT opened at $72.06 on Thursday. The company has a market capitalization of $11.86 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 1.45 and a beta of 1.30. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.42 and a current ratio of 2.87. The stock has a fifty day moving average of $63.62 and a 200-day moving average of $63.17. nVent Electric PLC has a one year low of $41.71 and a one year high of $81.55.

nVent Electric (NYSE:NVT) last announced its earnings results on Friday, May 2nd. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. nVent Electric had a return on equity of 13.54% and a net margin of 18.22%. The business had revenue of $809.30 million during the quarter, compared to the consensus estimate of $790.74 million. During the same period in the prior year, the business posted $0.78 earnings per share. nVent Electric’s revenue was up 10.5% compared to the same quarter last year. As a group, equities analysts anticipate that nVent Electric PLC will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.80 annualized dividend and a dividend yield of 1.11%. nVent Electric’s dividend payout ratio (DPR) is presently 22.86%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. KeyCorp boosted their target price on nVent Electric from $60.00 to $72.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Citigroup dropped their price objective on nVent Electric from $85.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. The Goldman Sachs Group decreased their target price on nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Monday, March 17th. Finally, Royal Bank Of Canada boosted their price target 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. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $70.67.

Insider Activity at nVent Electric

In related news, EVP Lynnette R. Heath sold 4,041 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 32,665 shares of the company’s stock, valued at approximately $2,003,997.75. The trade was a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is 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.