Carnegie Investment Counsel Lowers Stock Position in nVent Electric PLC (NYSE:NVT)

Carnegie Investment Counsel decreased its holdings in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 10.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,341 shares of the company's stock after selling 10,494 shares during the period. Carnegie Investment Counsel owned about 0.06% of nVent Electric worth $4,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of NVT. Capital A Wealth Management LLC purchased a new position in shares of nVent Electric during the 4th quarter valued at $27,000. Park Square Financial Group LLC purchased a new stake in nVent Electric in the 4th quarter worth $38,000. Whipplewood Advisors LLC lifted its stake in nVent Electric by 467.3% in the 1st quarter. Whipplewood Advisors LLC now owns 607 shares of the company's stock worth $32,000 after purchasing an additional 500 shares in the last quarter. Hughes Financial Services LLC purchased a new stake in nVent Electric in the 1st quarter worth $36,000. Finally, First Horizon Advisors Inc. lifted its stake in nVent Electric by 58.0% in the 1st quarter. First Horizon Advisors Inc. now owns 817 shares of the company's stock worth $43,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 90.05% of the company's stock.

Insider Buying and Selling

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the company's stock in a transaction dated 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 directly owned 32,665 shares in the company, valued at $2,003,997.75. This represents a 11.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NVT has been the topic of several research analyst reports. Royal Bank Of Canada boosted their price target on shares of nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Barclays boosted their price target on shares of nVent Electric from $74.00 to $80.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Wall Street Zen upgraded shares of nVent Electric from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Citigroup boosted their price target on shares of nVent Electric from $69.00 to $86.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Finally, The Goldman Sachs Group boosted their target price on shares of nVent Electric from $78.00 to $87.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $81.57.

nVent Electric Trading Up 2.0%

NYSE:NVT traded up $1.57 during mid-day trading on Friday, hitting $78.66. 1,984,979 shares of the stock traded hands, compared to its average volume of 1,806,810. The stock has a market capitalization of $12.95 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 1.53 and a beta of 1.31. nVent Electric PLC has a 52 week low of $41.71 and a 52 week high of $81.20. The firm's 50 day moving average is $70.92 and its two-hundred day moving average is $63.74. The company has a quick ratio of 2.42, a current ratio of 2.87 and a debt-to-equity ratio of 0.48.

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

nVent Electric Dividend Announcement

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

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.