Everhart Financial Group Inc. Sells 3,681 Shares of nVent Electric PLC (NYSE:NVT)

Everhart Financial Group Inc. cut its holdings in nVent Electric PLC (NYSE:NVT - Free Report) by 29.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,773 shares of the company's stock after selling 3,681 shares during the period. Everhart Financial Group Inc.'s holdings in nVent Electric were worth $460,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Kingsview Wealth Management LLC bought a new stake in nVent Electric during the fourth quarter worth about $364,000. Van ECK Associates Corp raised its stake in shares of nVent Electric by 35.5% during the 4th quarter. Van ECK Associates Corp now owns 130,405 shares of the company's stock worth $8,888,000 after purchasing an additional 34,191 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of nVent Electric by 15.3% during the 4th quarter. Vontobel Holding Ltd. now owns 577,781 shares of the company's stock worth $39,382,000 after purchasing an additional 76,797 shares in the last quarter. V Square Quantitative Management LLC grew its stake in shares of nVent Electric by 27.4% in the fourth quarter. V Square Quantitative Management LLC now owns 12,579 shares of the company's stock valued at $873,000 after buying an additional 2,707 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of nVent Electric by 0.5% in the fourth quarter. Rhumbline Advisers now owns 447,404 shares of the company's stock valued at $30,495,000 after buying an additional 2,221 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other 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 value of $247,915.35. Following the completion of the transaction, the executive vice president now directly owns 32,665 shares in the company, valued at approximately $2,003,997.75. The trade was a 11.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.50% of the stock is owned by company insiders.

Analyst Ratings Changes

NVT has been the topic of several analyst reports. Royal Bank Of Canada upped 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. Citigroup reduced their price target on nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a report on Monday, April 14th. Seaport Res Ptn raised nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. KeyCorp upped their price objective on nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Finally, The Goldman Sachs Group reduced their target price on nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $70.67.

nVent Electric Stock Performance

NVT traded down $0.55 on Tuesday, reaching $69.86. The company had a trading volume of 1,609,772 shares, compared to its average volume of 1,945,132. The stock has a market cap of $11.50 billion, a P/E ratio of 19.96, a P/E/G ratio of 1.41 and a beta of 1.30. 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 fifty-two week low of $41.71 and a fifty-two week high of $81.55. The company's fifty day moving average is $61.11 and its 200 day moving average is $63.35.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $790.74 million. During the same quarter last year, the business earned $0.78 EPS. The company's quarterly revenue was up 10.5% compared to the same quarter last year. As a group, analysts predict that nVent Electric PLC will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business 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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.15%. 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.