Silver Lake Advisory LLC Acquires Shares of 31,456 nVent Electric PLC (NYSE:NVT)

Silver Lake Advisory LLC purchased a new position in shares of nVent Electric PLC (NYSE:NVT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 31,456 shares of the company's stock, valued at approximately $1,649,000.

Several other institutional investors have also recently made changes to their positions in the stock. Figure 8 Investment Strategies LLC acquired a new position in shares of nVent Electric during the 1st quarter worth approximately $571,000. Running Oak Capital LLC boosted its stake in shares of nVent Electric by 32.6% during the 1st quarter. Running Oak Capital LLC now owns 270,203 shares of the company's stock worth $14,164,000 after acquiring an additional 66,395 shares during the period. Praxis Investment Management Inc. boosted its stake in shares of nVent Electric by 33.8% during the 1st quarter. Praxis Investment Management Inc. now owns 5,350 shares of the company's stock worth $280,000 after acquiring an additional 1,350 shares during the period. Johnson Investment Counsel Inc. boosted its stake in shares of nVent Electric by 8.1% during the 1st quarter. Johnson Investment Counsel Inc. now owns 1,704,025 shares of the company's stock worth $89,325,000 after acquiring an additional 128,023 shares during the period. Finally, Mountain Pacific Investment Advisers LLC boosted its stake in shares of nVent Electric by 8.4% during the 1st quarter. Mountain Pacific Investment Advisers LLC now owns 208,188 shares of the company's stock worth $10,913,000 after acquiring an additional 16,138 shares during the period. Institutional investors and hedge funds own 90.05% of the company's stock.

Analysts Set New Price Targets

NVT has been the subject of several research analyst reports. The Goldman Sachs Group reduced 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 upgraded nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price for the company in a research note on Monday, March 17th. Seaport Res Ptn upgraded nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. Citigroup reduced their target price on nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, KeyCorp lifted their target price on nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, nVent Electric currently has an average rating of "Buy" and a consensus price target of $70.67.

nVent Electric Stock Performance

NVT traded up $0.32 during trading on Friday, hitting $73.45. The stock had a trading volume of 2,046,895 shares, compared to its average volume of 1,947,707. The company has a 50 day moving average price of $64.56 and a 200-day moving average price of $63.15. The firm has a market cap of $12.09 billion, a price-to-earnings ratio of 20.98, a P/E/G ratio of 1.46 and a beta of 1.30. nVent Electric PLC has a one year low of $41.71 and a one year high of $81.55. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.87 and a quick ratio of 2.42.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. The business had revenue of $809.30 million during the quarter, compared to the consensus estimate of $790.74 million. nVent Electric had a return on equity of 13.54% and a net margin of 18.22%. The firm's quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 EPS. As a group, research analysts predict that nVent Electric PLC will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.80 annualized dividend and a yield of 1.09%. nVent Electric's dividend payout ratio is presently 22.86%.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of nVent Electric stock in a transaction on 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 directly owns 32,665 shares of the company's stock, valued at $2,003,997.75. The trade was a 11.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.80% of the company's stock.

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.