nVent Electric plc (NYSE:NVT) Position Boosted by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. grew its position in shares of nVent Electric plc (NYSE:NVT - Free Report) by 48.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,200 shares of the company's stock after acquiring an additional 10,895 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in nVent Electric were worth $1,740,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of NVT. Capital A Wealth Management LLC bought a new stake in shares of nVent Electric during the fourth quarter valued at about $27,000. Whipplewood Advisors LLC raised its stake in shares of nVent Electric by 467.3% during the first quarter. Whipplewood Advisors LLC now owns 607 shares of the company's stock valued at $32,000 after purchasing an additional 500 shares in the last quarter. Park Square Financial Group LLC bought a new stake in shares of nVent Electric during the fourth quarter valued at about $38,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of nVent Electric by 43.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,112 shares of the company's stock valued at $58,000 after purchasing an additional 339 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of nVent Electric during the fourth quarter valued at about $65,000. Institutional investors and hedge funds own 90.05% of the company's stock.

nVent Electric Price Performance

nVent Electric stock traded up $2.24 during midday trading on Monday, hitting $70.37. The company's stock had a trading volume of 1,775,088 shares, compared to its average volume of 1,944,312. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The stock's 50-day moving average price is $60.75 and its 200-day moving average price is $63.31. nVent Electric plc has a 12 month low of $41.71 and a 12 month high of $81.55. The company has a market capitalization of $11.59 billion, a PE ratio of 35.90, a price-to-earnings-growth ratio of 1.48 and a beta of 1.30.

nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.01. The firm had revenue of $809.30 million for the quarter, compared to analysts' expectations of $790.74 million. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. nVent Electric's revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the business posted $0.78 EPS. Analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a yield of 1.14%. nVent Electric's dividend payout ratio is currently 22.86%.

Insider Buying and Selling

In related news, EVP Lynnette R. Heath sold 4,041 shares of nVent Electric stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $61.35, for a total value of $247,915.35. Following the transaction, the executive vice president now owns 32,665 shares of the company's stock, valued at approximately $2,003,997.75. This trade represents a 11.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of nVent Electric from $70.00 to $74.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. 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. The Goldman Sachs Group dropped their price target on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. KeyCorp boosted their price target on shares of nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Finally, 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 report on Monday, May 5th. Six 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.com, the company presently has an average rating of "Buy" and an average price target of $70.67.

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.