Diversify Wealth Management LLC Raises Stake in nVent Electric PLC (NYSE:NVT)

Diversify Wealth Management LLC boosted its position in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 50.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,915 shares of the company's stock after buying an additional 4,695 shares during the quarter. Diversify Wealth Management LLC's holdings in nVent Electric were worth $765,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NVT. Farther Finance Advisors LLC lifted its stake in shares of nVent Electric by 381.0% in the first quarter. Farther Finance Advisors LLC now owns 1,996 shares of the company's stock worth $106,000 after buying an additional 1,581 shares in the last quarter. LPL Financial LLC raised its stake in nVent Electric by 12.6% during the fourth quarter. LPL Financial LLC now owns 140,043 shares of the company's stock worth $9,545,000 after purchasing an additional 15,685 shares during the period. GAMMA Investing LLC raised its stake in nVent Electric by 74.3% during the first quarter. GAMMA Investing LLC now owns 3,476 shares of the company's stock worth $182,000 after purchasing an additional 1,482 shares during the period. Janney Montgomery Scott LLC raised its stake in nVent Electric by 6.2% during the first quarter. Janney Montgomery Scott LLC now owns 27,252 shares of the company's stock worth $1,429,000 after purchasing an additional 1,591 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in nVent Electric by 27.4% during the first quarter. Robeco Institutional Asset Management B.V. now owns 19,307 shares of the company's stock worth $1,012,000 after purchasing an additional 4,149 shares during the period. 90.05% of the stock is owned by hedge funds and other institutional investors.

nVent Electric Stock Up 0.4%

Shares of NVT stock traded up $0.28 during trading on Friday, reaching $74.95. The company's stock had a trading volume of 1,677,199 shares, compared to its average volume of 1,989,043. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.87 and a quick ratio of 2.42. The company has a market capitalization of $12.34 billion, a price-to-earnings ratio of 21.41, a P/E/G ratio of 1.49 and a beta of 1.31. The stock's 50-day moving average price is $68.56 and its 200 day moving average price is $63.24. nVent Electric PLC has a 1-year low of $41.71 and a 1-year high of $81.55.

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

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Friday, July 18th. nVent Electric's dividend payout ratio (DPR) is currently 22.86%.

Analysts Set New Price Targets

NVT has been the topic of a number of analyst reports. KeyCorp lifted their target price on shares of nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. The Goldman Sachs Group lifted their price target 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. Royal Bank Of Canada lifted their price target on shares of nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Barclays lifted their price target on shares of nVent Electric from $74.00 to $80.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, nVent Electric currently has an average rating of "Buy" and a consensus price target of $73.83.

Insider Buying and Selling at nVent Electric

In related news, EVP Lynnette R. Heath sold 4,041 shares of nVent Electric 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 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 SEC, which is accessible through this hyperlink. Company insiders own 1.80% of the company's stock.

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.