Avalon Trust Co Grows Stock Holdings in nVent Electric PLC (NYSE:NVT)

Key Points

• Avalon Trust Co increased its stake in nVent Electric PLC by 3.4%, owning 138,399 shares worth approximately $7.3 million as of its latest SEC filing.
• nVent Electric reported earnings of $0.86 per share, exceeding expectations, with revenues reaching $963.1 million—a 30.1% increase year-over-year.
• The company declared a quarterly dividend of $0.20 per share, amounting to an annualized $0.80, reflecting a payout ratio of 22.86%.

Avalon Trust Co lifted its stake in nVent Electric PLC (NYSE:NVT - Free Report) by 3.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,399 shares of the company's stock after purchasing an additional 4,534 shares during the quarter. Avalon Trust Co owned about 0.08% of nVent Electric worth $7,255,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Research Global Investors purchased a new stake in shares of nVent Electric in the fourth quarter worth $384,749,000. Millennium Management LLC raised its position in shares of nVent Electric by 743.7% in the 4th 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. Bank of New York Mellon Corp boosted its stake in nVent Electric by 1.7% in the 1st quarter. Bank of New York Mellon Corp now owns 1,747,395 shares of the company's stock worth $91,598,000 after purchasing an additional 29,027 shares in the last quarter. Invesco Ltd. grew its position in nVent Electric by 15.0% during the 4th quarter. Invesco Ltd. now owns 1,723,868 shares of the company's stock valued at $117,499,000 after purchasing an additional 224,657 shares during the last quarter. Finally, Johnson Investment Counsel Inc. grew its position in nVent Electric by 8.1% during the 1st quarter. Johnson Investment Counsel Inc. now owns 1,704,025 shares of the company's stock valued at $89,325,000 after purchasing an additional 128,023 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

nVent Electric Trading Up 14.4%

Shares of NVT stock opened at $89.69 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 12-month low of $41.71 and a 12-month high of $89.91. The stock has a market capitalization of $14.77 billion, a P/E ratio of 25.55, a P/E/G ratio of 1.78 and a beta of 1.35. The firm's 50 day moving average is $72.50 and its 200 day moving average is $64.10.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.07. The firm had revenue of $963.10 million for the quarter, compared to analysts' expectations of $906.96 million. nVent Electric had a return on equity of 13.54% and a net margin of 18.22%. The company's revenue was up 30.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.82 EPS. Research analysts expect that nVent Electric PLC will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Saturday, January 1st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Friday, July 18th. nVent Electric's payout ratio is currently 22.86%.

Insider Activity

In related news, EVP Lynnette R. Heath sold 4,041 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

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.

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