Burney Co. Has $1.29 Million Position in nVent Electric PLC (NYSE:NVT)

Burney Co. trimmed its position in nVent Electric PLC (NYSE:NVT - Free Report) by 82.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,522 shares of the company's stock after selling 113,837 shares during the quarter. Burney Co.'s holdings in nVent Electric were worth $1,285,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Virtu Financial LLC acquired a new position in nVent Electric in the 4th quarter valued at about $379,000. American Century Companies Inc. lifted its position in nVent Electric by 20.7% during the 4th quarter. American Century Companies Inc. now owns 74,262 shares of the company's stock worth $5,062,000 after acquiring an additional 12,759 shares during the period. Sei Investments Co. raised its holdings in nVent Electric by 53.7% during the fourth quarter. Sei Investments Co. now owns 170,899 shares of the company's stock worth $11,649,000 after purchasing an additional 59,684 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in nVent Electric during the fourth quarter worth $2,283,000. Finally, LPL Financial LLC lifted its position in shares of nVent Electric by 12.6% during the 4th quarter. LPL Financial LLC now owns 140,043 shares of the company's stock valued at $9,545,000 after acquiring an additional 15,685 shares during the period. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Stock Performance

Shares of NVT traded up $1.57 during mid-day trading on Friday, reaching $78.66. 1,984,979 shares of the company's stock traded hands, compared to its average volume of 1,806,810. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.42 and a current ratio of 2.87. nVent Electric PLC has a 12 month low of $41.71 and a 12 month high of $81.20. The business's 50-day moving average price is $70.92 and its 200-day moving average price is $63.74. The stock has a market capitalization of $12.95 billion, a P/E ratio of 22.48, a price-to-earnings-growth ratio of 1.53 and a beta of 1.31.

nVent Electric (NYSE:NVT - Get Free Report) last released its earnings results on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.01. nVent Electric had a return on equity of 13.54% and a net margin of 18.22%. The firm had revenue of $809.30 million during the quarter, compared to the consensus estimate of $790.74 million. During the same period in the prior year, the firm posted $0.78 earnings per share. The firm's revenue for the quarter was up 10.5% compared to the same quarter last year. Equities analysts predict that nVent Electric PLC will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.02%. nVent Electric's payout ratio is currently 22.86%.

Insider Buying and Selling at nVent Electric

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 transaction of $247,915.35. Following the completion of the sale, the executive vice president directly owned 32,665 shares in the company, 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 document filed with the SEC, which can be accessed through the SEC website. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NVT shares. Wall Street Zen upgraded nVent Electric from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Citigroup lifted their price target on shares of nVent Electric from $69.00 to $86.00 and gave the company a "buy" rating in a research report on Monday, July 14th. The Goldman Sachs Group boosted their price target on nVent Electric from $78.00 to $87.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Roth Capital initiated coverage on nVent Electric in a report on Wednesday. They issued a "buy" rating and a $89.00 price target for the company. Finally, Royal Bank Of Canada increased their price target on shares of nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, nVent Electric presently has an average rating of "Buy" and an average target price of $81.57.

About nVent Electric

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.