First Citizens Bank & Trust Co. Raises Stock Position in nVent Electric PLC $NVT

Key Points

• First Citizens Bank & Trust Co. increased its stake in nVent Electric PLC by 258.5%, acquiring an additional 11,628 shares, bringing its total holdings to 16,127 shares valued at $1,181,000.
• Equities research analysts are optimistic about nVent Electric, with multiple firms raising their target prices; notable increases include Barclays raising its target from $100.00 to $115.00.
• nVent Electric has declared a quarterly dividend of $0.20 per share, scheduled for payment on November 7th, contributing to an annualized dividend yield of 0.8%.

First Citizens Bank & Trust Co. raised its stake in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 258.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,127 shares of the company's stock after buying an additional 11,628 shares during the period. First Citizens Bank & Trust Co.'s holdings in nVent Electric were worth $1,181,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of NVT. PFG Investments LLC grew its stake in shares of nVent Electric by 2.7% during the 2nd quarter. PFG Investments LLC now owns 5,020 shares of the company's stock valued at $368,000 after acquiring an additional 132 shares during the period. Alliance Wealth Advisors LLC UT grew its stake in nVent Electric by 1.1% during the first quarter. Alliance Wealth Advisors LLC UT now owns 14,192 shares of the company's stock valued at $744,000 after acquiring an additional 159 shares in the last quarter. Trust Co. of Vermont grew its position in shares of nVent Electric by 57.8% during the second quarter. Trust Co. of Vermont now owns 434 shares of the company's stock valued at $32,000 after purchasing an additional 159 shares in the last quarter. Davis R M Inc. grew its holdings in nVent Electric by 4.0% during the 1st quarter. Davis R M Inc. now owns 5,200 shares of the company's stock valued at $273,000 after buying an additional 200 shares in the last quarter. Finally, HB Wealth Management LLC increased its position in nVent Electric by 2.1% in the second quarter. HB Wealth Management LLC now owns 10,002 shares of the company's stock worth $733,000 after purchasing an additional 203 shares during the last quarter. 90.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NVT shares. Citigroup reissued a "buy" rating on shares of nVent Electric in a research note on Thursday, October 9th. Barclays boosted their target price on nVent Electric from $100.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, October 1st. KeyCorp raised their price target on nVent Electric from $103.00 to $114.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 14th. Royal Bank Of Canada reiterated an "outperform" rating and set a $102.00 price objective (up previously from $85.00) on shares of nVent Electric in a research report on Monday, August 4th. Finally, The Goldman Sachs Group increased their target price on shares of nVent Electric from $99.00 to $111.00 and gave the company a "buy" rating in a research note on Tuesday, September 16th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $99.71.

nVent Electric Stock Performance

Shares of NYSE:NVT opened at $102.39 on Friday. The firm's 50 day simple moving average is $95.53 and its 200-day simple moving average is $77.96. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.20 and a current ratio of 1.67. nVent Electric PLC has a one year low of $41.71 and a one year high of $104.30. The firm has a market cap of $16.48 billion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 1.50 and a beta of 1.38.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.07. The company had revenue of $963.10 million for the quarter, compared to analysts' expectations of $906.96 million. nVent Electric had a return on equity of 13.36% and a net margin of 17.72%.nVent Electric's revenue was up 30.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.82 earnings per share. nVent Electric has set its Q3 2025 guidance at 0.860-0.880 EPS. FY 2025 guidance at 3.220-3.300 EPS. As a group, equities analysts predict 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, November 7th. Stockholders of record on Friday, October 17th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, October 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.8%. nVent Electric's dividend payout ratio is presently 22.79%.

Insider Transactions at nVent Electric

In other nVent Electric news, EVP Aravind Padmanabhan sold 24,534 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $90.00, for a total transaction of $2,208,060.00. Following the transaction, the executive vice president owned 12,063 shares of the company's stock, valued at approximately $1,085,670. This trade represents a 67.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sara E. Zawoyski sold 22,109 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $89.54, for a total transaction of $1,979,639.86. Following the completion of the sale, the insider owned 66,640 shares of the company's stock, valued at approximately $5,966,945.60. This represents a 24.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 261,111 shares of company stock valued at $23,367,520 over the last three months. 1.80% of the stock is currently owned by corporate insiders.

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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