31,456 Shares in nVent Electric PLC (NYSE:NVT) Purchased by Silver Lake Advisory LLC

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

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Atria Wealth Solutions Inc. increased its holdings in nVent Electric by 179.7% in the 4th quarter. Atria Wealth Solutions Inc. now owns 9,854 shares of the company's stock valued at $672,000 after purchasing an additional 6,331 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of nVent Electric by 15.3% during the fourth quarter. Private Advisor Group LLC now owns 8,383 shares of the company's stock worth $571,000 after buying an additional 1,111 shares during the period. Bank of New York Mellon Corp boosted its position in shares of nVent Electric by 22.3% during the fourth quarter. Bank of New York Mellon Corp now owns 1,718,368 shares of the company's stock worth $117,124,000 after buying an additional 312,982 shares during the period. Oppenheimer & Co. Inc. grew its stake in shares of nVent Electric by 7.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 22,848 shares of the company's stock valued at $1,557,000 after buying an additional 1,607 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of nVent Electric in the 4th quarter valued at $3,986,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. 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 report on Monday, March 17th. Seaport Res Ptn raised shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. KeyCorp lifted their price objective on shares of nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Citigroup cut their target price on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Barclays raised their price target on shares of nVent Electric from $70.00 to $74.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. Six research 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, nVent Electric has an average rating of "Buy" and an average target price of $70.67.

Insider Activity at nVent Electric

In other news, EVP Lynnette R. Heath sold 4,041 shares of the company's stock in a transaction on Thursday, May 8th. The shares were 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 represents a 11.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.50% of the stock is currently owned by corporate insiders.

nVent Electric Stock Up 2.4%

Shares of NYSE:NVT opened at $72.43 on Wednesday. nVent Electric PLC has a fifty-two week low of $41.71 and a fifty-two week high of $81.55. The firm's 50 day moving average price is $63.17 and its 200 day moving average price is $63.11. The company has a quick ratio of 2.42, a current ratio of 2.87 and a debt-to-equity ratio of 0.48. The stock has a market cap of $11.92 billion, a price-to-earnings ratio of 20.69, a price-to-earnings-growth ratio of 1.42 and a beta of 1.30.

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

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Friday, July 18th. nVent Electric's dividend payout ratio (DPR) is presently 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.

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