Atlantic Edge Private Wealth Management LLC Makes New Investment in nVent Electric PLC $NVT

Key Points

• Atlantic Edge Private Wealth Management bought a new position in nVent Electric (NYSE:NVT) of 18,863 shares, valued at about $1.923 million during the fourth quarter.
• Corporate insiders sold a total of 17,841 shares worth $2.046 million over the last quarter (including sales by Director Jerry W. Burris and CEO Beth Wozniak), with insiders owning 1.70% of the company.
• Analysts are broadly positive on NVT — consensus is a "Moderate Buy" with an average target of $144, and several firms have recently raised targets (e.g., Barclays to $150), while the stock has a market cap of about $21.78 billion.

Atlantic Edge Private Wealth Management LLC bought a new position in nVent Electric PLC (NYSE:NVT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 18,863 shares of the company's stock, valued at approximately $1,923,000.

A number of other large investors have also recently bought and sold shares of NVT. AQR Capital Management LLC lifted its holdings in nVent Electric by 33.1% in the first quarter. AQR Capital Management LLC now owns 94,968 shares of the company's stock worth $4,841,000 after acquiring an additional 23,606 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in nVent Electric by 575.6% in the first quarter. Jones Financial Companies Lllp now owns 8,803 shares of the company's stock worth $461,000 after acquiring an additional 7,500 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in nVent Electric by 436.0% in the first quarter. Geneos Wealth Management Inc. now owns 1,072 shares of the company's stock worth $56,000 after acquiring an additional 872 shares during the last quarter. Marshall Wace LLP lifted its holdings in nVent Electric by 31.8% in the second quarter. Marshall Wace LLP now owns 41,061 shares of the company's stock worth $3,008,000 after acquiring an additional 9,898 shares during the last quarter. Finally, Cresset Asset Management LLC lifted its holdings in nVent Electric by 57.7% in the second quarter. Cresset Asset Management LLC now owns 8,136 shares of the company's stock worth $596,000 after acquiring an additional 2,977 shares during the last quarter. Institutional investors own 90.05% of the company's stock.

Insider Buying and Selling

In related news, Director Jerry W. Burris sold 5,244 shares of the business's stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $112.27, for a total transaction of $588,743.88. Following the sale, the director owned 46,371 shares of the company's stock, valued at $5,206,072.17. The trade was a 10.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Beth Wozniak sold 7,597 shares of the business's stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $116.47, for a total value of $884,822.59. Following the sale, the chief executive officer directly owned 52,990 shares in the company, valued at approximately $6,171,745.30. The trade was a 12.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 17,841 shares of company stock valued at $2,046,166 over the last quarter. Corporate insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NVT. Weiss Ratings raised nVent Electric from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, March 11th. Barclays lifted their price target on nVent Electric from $141.00 to $150.00 and gave the company an "overweight" rating in a report on Wednesday, April 1st. KeyCorp lifted their price target on nVent Electric from $125.00 to $130.00 and gave the company an "overweight" rating in a report on Monday, February 9th. UBS Group reaffirmed a "buy" rating and set a $135.00 price target on shares of nVent Electric in a report on Friday, March 13th. Finally, Glj Research began coverage on nVent Electric in a report on Thursday, March 5th. They set a "buy" rating and a $151.00 price target on the stock. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $144.00.

nVent Electric Stock Performance

NVT opened at $134.69 on Friday. The business's 50 day moving average is $118.35 and its 200-day moving average is $110.16. The stock has a market cap of $21.78 billion, a PE ratio of 31.32, a price-to-earnings-growth ratio of 1.35 and a beta of 1.28. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.41. nVent Electric PLC has a twelve month low of $47.86 and a twelve month high of $135.92.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings results on Saturday, February 7th. The company reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.01. nVent Electric had a return on equity of 15.18% and a net margin of 18.25%.The company had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1 billion. During the same quarter in the previous year, the company posted $0.59 earnings per share. The business's revenue for the quarter was up 41.9% compared to the same quarter last year. On average, analysts predict that nVent Electric PLC will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Friday, April 24th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, April 24th. This represents a $0.84 annualized dividend and a yield of 0.6%. nVent Electric's payout ratio is presently 19.53%.

nVent Electric Company Profile

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company's electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.

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