nVent Electric PLC (NYSE:NVT) Shares Acquired by Blair William & Co. IL

Key Points

• Blair William & Co. IL increased its stake in nVent Electric PLC by 42.9%, bringing its total holdings to 11,359 shares valued at $595,000 as of the latest SEC filing.
• nVent Electric reported earnings of $0.86 per share, exceeding analyst expectations, with a revenue of $963.10 million for the last quarter, a 30.1% increase year-over-year.
• The company has declared a quarterly dividend of $0.20 per share, translating to an annualized dividend of $0.80 and a yield of 0.9%.

Blair William & Co. IL lifted its holdings in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 42.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,359 shares of the company's stock after purchasing an additional 3,408 shares during the quarter. Blair William & Co. IL's holdings in nVent Electric were worth $595,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Utah Retirement Systems grew its holdings in shares of nVent Electric by 2.3% during the 4th quarter. Utah Retirement Systems now owns 8,923 shares of the company's stock worth $608,000 after purchasing an additional 200 shares during the period. Davis R M Inc. lifted its stake in nVent Electric by 4.0% during the 1st quarter. Davis R M Inc. now owns 5,200 shares of the company's stock worth $273,000 after acquiring an additional 200 shares in the last quarter. Hancock Whitney Corp lifted its stake in nVent Electric by 1.4% during the 4th quarter. Hancock Whitney Corp now owns 15,031 shares of the company's stock worth $1,025,000 after acquiring an additional 206 shares in the last quarter. Portside Wealth Group LLC lifted its stake in nVent Electric by 3.2% during the 1st quarter. Portside Wealth Group LLC now owns 7,152 shares of the company's stock worth $375,000 after acquiring an additional 219 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in nVent Electric by 15.6% during the 1st quarter. Parallel Advisors LLC now owns 1,702 shares of the company's stock worth $89,000 after acquiring an additional 230 shares in the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Stock Down 1.1%

NVT stock traded down $0.97 during mid-day trading on Friday, reaching $88.83. The company had a trading volume of 167,310 shares, compared to its average volume of 2,191,056. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.20 and a current ratio of 1.67. The company has a market capitalization of $14.30 billion, a price-to-earnings ratio of 25.36, a price-to-earnings-growth ratio of 1.56 and a beta of 1.35. The firm has a fifty day simple moving average of $76.79 and a 200 day simple moving average of $65.23. nVent Electric PLC has a fifty-two week low of $41.71 and a fifty-two week high of $92.75.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.07. The company had revenue of $963.10 million for the quarter, compared to analyst estimates of $906.96 million. nVent Electric had a return on equity of 13.36% and a net margin of 17.72%. nVent Electric's revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 EPS. Analysts forecast that nVent Electric PLC will post 3.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Der Kolk Robert J. Van sold 10,993 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $89.14, for a total transaction of $979,916.02. Following the sale, the insider owned 40,772 shares of the company's stock, valued at approximately $3,634,416.08. This trade represents a 21.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Randolph A. Wacker sold 3,000 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $89.09, for a total value of $267,270.00. Following the sale, the chief accounting officer directly owned 27,525 shares in the company, valued at $2,452,202.25. This trade represents a 9.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 218,780 shares of company stock worth $19,591,172 over the last ninety days. Company insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

NVT has been the topic of several research reports. Royal Bank Of Canada reissued an "outperform" rating and set a $102.00 target price (up previously from $85.00) on shares of nVent Electric in a research note on Monday, August 4th. KeyCorp increased their target price on nVent Electric from $78.00 to $84.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Barclays reissued an "overweight" rating on shares of nVent Electric in a research note on Monday, August 4th. Roth Capital reissued a "buy" rating and set a $100.00 target price (up previously from $89.00) on shares of nVent Electric in a research note on Monday, August 4th. Finally, The Goldman Sachs Group increased their target price on nVent Electric from $78.00 to $87.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, nVent Electric has an average rating of "Buy" and a consensus target price of $87.00.

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.