Commerce Bank Has $44.14 Million Stake in nVent Electric PLC (NYSE:NVT)

Key Points

• Commerce Bank increased its stake in nVent Electric PLC by 0.8% during Q1, holding approximately 841,945 shares valued at $44.14 million.
• Multiple research firms upgraded their outlook on nVent Electric, with Goldman Sachs raising its target from $78.00 to $87.00 and issuing a "buy" rating.
• nVent Electric recently declared a $0.20 quarterly dividend, contributing to an annualized yield of 1.0%, set to be paid on August 1st.

Commerce Bank lifted its holdings in nVent Electric PLC (NYSE:NVT - Free Report) by 0.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 841,945 shares of the company's stock after acquiring an additional 6,644 shares during the quarter. Commerce Bank owned approximately 0.51% of nVent Electric worth $44,135,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Capital A Wealth Management LLC bought a new position in nVent Electric in the 4th quarter valued at $27,000. Park Square Financial Group LLC acquired a new stake in shares of nVent Electric in the fourth quarter valued at $38,000. Whipplewood Advisors LLC raised its holdings in shares of nVent Electric by 467.3% in the first quarter. Whipplewood Advisors LLC now owns 607 shares of the company's stock valued at $32,000 after buying an additional 500 shares during the last quarter. Hughes Financial Services LLC acquired a new position in nVent Electric during the 1st quarter worth about $36,000. Finally, First Horizon Advisors Inc. lifted its position in nVent Electric by 58.0% during the 1st quarter. First Horizon Advisors Inc. now owns 817 shares of the company's stock worth $43,000 after buying an additional 300 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NVT. The Goldman Sachs Group raised their price objective on shares of nVent Electric from $78.00 to $87.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Roth Capital started coverage on shares of nVent Electric in a report on Wednesday, July 23rd. They issued a "buy" rating and a $89.00 price target for the company. KeyCorp boosted their price objective on shares of nVent Electric from $78.00 to $84.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Wall Street Zen upgraded nVent Electric from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Finally, Barclays boosted their target price on nVent Electric from $74.00 to $80.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $81.57.

Insider Buying and Selling at nVent Electric

In related news, EVP Lynnette R. Heath sold 4,041 shares of the business'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 transaction, the executive vice president owned 32,665 shares in the company, valued at approximately $2,003,997.75. The trade was a 11.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is owned by corporate insiders.

nVent Electric Stock Performance

NVT stock opened at $78.51 on Friday. nVent Electric PLC has a twelve month low of $41.71 and a twelve month high of $81.20. The company has a quick ratio of 2.42, a current ratio of 2.87 and a debt-to-equity ratio of 0.48. The company has a market cap of $12.93 billion, a P/E ratio of 22.43, a price-to-earnings-growth ratio of 1.56 and a beta of 1.31. The business's fifty day moving average is $72.01 and its 200-day moving average is $64.00.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The company reported $0.67 EPS for the quarter, beating 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 business had revenue of $809.30 million during the quarter, compared to the consensus estimate of $790.74 million. During the same quarter in the prior year, the company posted $0.78 earnings per share. The firm's revenue was up 10.5% on a year-over-year basis. Equities research analysts forecast that nVent Electric PLC will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, July 18th. nVent Electric's dividend payout ratio (DPR) is currently 22.86%.

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.

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