AE Wealth Management LLC Purchases Shares of 5,075 nVent Electric PLC (NYSE:NVT)

Key Points

• AE Wealth Management LLC acquired 5,075 shares of nVent Electric PLC, valued at approximately $266,000, during the first quarter.
• nVent Electric recently reported $809.30 million in revenue and an EPS of $0.67, exceeding analyst expectations.
• The company announced a $0.20 quarterly dividend, reflecting an annualized yield of 1.0%, with a payout ratio of 22.86%.

AE Wealth Management LLC purchased a new stake in nVent Electric PLC (NYSE:NVT - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 5,075 shares of the company's stock, valued at approximately $266,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capital Research Global Investors purchased a new position in shares of nVent Electric in the fourth quarter worth about $384,749,000. Millennium Management LLC raised its stake in shares of nVent Electric by 743.7% in the fourth quarter. Millennium Management LLC now owns 2,215,624 shares of the company's stock worth $151,017,000 after purchasing an additional 1,953,026 shares during the last quarter. Champlain Investment Partners LLC purchased a new position in shares of nVent Electric in the fourth quarter worth about $86,738,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of nVent Electric by 145.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,466,560 shares of the company's stock worth $99,961,000 after purchasing an additional 869,906 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in shares of nVent Electric by 16,062.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 875,197 shares of the company's stock worth $59,653,000 after purchasing an additional 869,782 shares during the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Stock Down 0.3%

Shares of NVT stock opened at $78.51 on Friday. The company has a current ratio of 2.87, a quick ratio of 2.42 and a debt-to-equity ratio of 0.48. nVent Electric PLC has a twelve month low of $41.71 and a twelve month high of $81.20. The stock has a 50 day moving average of $72.01 and a 200 day moving average of $64.00. The stock has a market cap of $12.93 billion, a P/E ratio of 22.43, a P/E/G ratio of 1.56 and a beta of 1.31.

nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $809.30 million for the quarter, compared to analyst estimates of $790.74 million. During the same period last year, the company earned $0.78 earnings per share. nVent Electric's quarterly revenue was up 10.5% compared to the same quarter last year. As a group, sell-side analysts expect that nVent Electric PLC will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The firm 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. This represents a $0.80 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, July 18th. nVent Electric's dividend payout ratio (DPR) is presently 22.86%.

Insider Buying and Selling

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president directly owned 32,665 shares of the company's stock, valued at approximately $2,003,997.75. This trade represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.80% of the company's stock.

Analyst Ratings Changes

NVT has been the subject of several research analyst reports. KeyCorp raised their price objective on nVent Electric from $78.00 to $84.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Wall Street Zen upgraded nVent Electric from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Royal Bank Of Canada lifted their price target on nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Roth Capital began coverage on nVent Electric in a research report on Wednesday, July 23rd. They set a "buy" rating and a $89.00 price target for the company. Finally, Citigroup lifted their price target on nVent Electric from $69.00 to $86.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, nVent Electric has an average rating of "Buy" and a consensus price target of $81.57.

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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