Banque Pictet & Cie SA Invests $292,000 in nVent Electric PLC (NYSE:NVT)

Banque Pictet & Cie SA bought a new position in shares of nVent Electric PLC (NYSE:NVT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,564 shares of the company's stock, valued at approximately $292,000.

Several other hedge funds and other institutional investors have also modified their holdings of NVT. Quadrant Capital Group LLC raised its stake in nVent Electric by 4.1% in the fourth quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company's stock valued at $259,000 after purchasing an additional 150 shares in the last quarter. Utah Retirement Systems raised its stake in nVent Electric by 2.3% in the fourth quarter. Utah Retirement Systems now owns 8,923 shares of the company's stock valued at $608,000 after purchasing an additional 200 shares in the last quarter. Hancock Whitney Corp raised its stake in nVent Electric by 1.4% in the fourth quarter. Hancock Whitney Corp now owns 15,031 shares of the company's stock valued at $1,025,000 after purchasing an additional 206 shares in the last quarter. Portside Wealth Group LLC raised its stake in nVent Electric by 3.2% in the first quarter. Portside Wealth Group LLC now owns 7,152 shares of the company's stock valued at $375,000 after purchasing an additional 219 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in nVent Electric by 15.6% in the first quarter. Parallel Advisors LLC now owns 1,702 shares of the company's stock valued at $89,000 after purchasing an additional 230 shares in the last quarter. Institutional investors own 90.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NVT shares. Citigroup decreased their target price on nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. KeyCorp lifted their target price on nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Seaport Res Ptn upgraded nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. Barclays lifted their target price on nVent Electric from $74.00 to $80.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, The Goldman Sachs Group lifted their target price on nVent Electric from $78.00 to $87.00 and gave the company a "buy" rating in a research report on Monday. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $73.83.

nVent Electric Trading Up 0.4%

Shares of NYSE:NVT traded up $0.28 during midday trading on Friday, hitting $74.95. 1,677,199 shares of the stock were exchanged, compared to its average volume of 1,986,563. The stock has a market capitalization of $12.34 billion, a price-to-earnings ratio of 25.57, a P/E/G ratio of 1.48 and a beta of 1.31. 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 business's 50-day moving average price is $68.26 and its 200 day moving average price is $63.25. nVent Electric PLC has a 12 month low of $41.71 and a 12 month high of $81.55.

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 for the quarter, topping the consensus estimate of $0.66 by $0.01. The company had revenue of $809.30 million for the quarter, compared to analysts' expectations of $790.74 million. nVent Electric had a return on equity of 13.54% and a net margin of 18.22%. The business's quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.78 earnings per share. Analysts predict that nVent Electric PLC will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Friday, July 18th. nVent Electric's dividend payout ratio is presently 22.86%.

Insiders Place Their Bets

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 32,665 shares of the company's stock, valued at approximately $2,003,997.75. This represents a 11.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate 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.