Harbor Capital Advisors Inc. Grows Stock Holdings in nVent Electric plc (NYSE:NVT)

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 Securities and Exchange Commission. The fund owned 33,200 shares of the company's stock after acquiring an additional 10,895 shares during the period. Harbor Capital Advisors Inc.'s holdings in nVent Electric were worth $1,740,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Capital A Wealth Management LLC bought a new position in nVent Electric during the 4th quarter valued at approximately $27,000. Whipplewood Advisors LLC grew its position in shares of nVent Electric by 467.3% in the 1st quarter. Whipplewood Advisors LLC now owns 607 shares of the company's stock worth $32,000 after buying an additional 500 shares during the last quarter. Park Square Financial Group LLC purchased a new position in shares of nVent Electric during the fourth quarter valued at approximately $38,000. MassMutual Private Wealth & Trust FSB raised its holdings 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 acquiring an additional 339 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of nVent Electric during the fourth quarter valued at approximately $65,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NVT shares. KeyCorp lifted their price target on shares of nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a report on Monday, May 5th. CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price on the stock in a research note on Monday, March 17th. The Goldman Sachs Group decreased their price target on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Seaport Res Ptn raised nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. Finally, Citigroup reduced their target price on nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $70.67.

nVent Electric Stock Down 2.4%

Shares of nVent Electric stock traded down $1.65 during trading on Friday, hitting $68.11. The company's stock had a trading volume of 1,101,468 shares, compared to its average volume of 1,939,875. nVent Electric plc has a 52 week low of $41.71 and a 52 week high of $81.89. The company has a market capitalization of $11.21 billion, a PE ratio of 34.75, a P/E/G ratio of 1.48 and a beta of 1.30. The company has a fifty day simple moving average of $59.77 and a two-hundred day simple moving average of $63.61. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73.

nVent Electric (NYSE:NVT - Get Free Report) last announced its earnings results 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. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. The business had revenue of $809.30 million during the quarter, compared to the consensus estimate of $790.74 million. During the same quarter last year, the firm earned $0.78 earnings per share. The business's revenue for the quarter was up 10.5% on a year-over-year basis. Equities research analysts predict that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.17%. The ex-dividend date is Friday, July 18th. nVent Electric's dividend payout ratio (DPR) is 22.86%.

Insider Transactions at nVent Electric

In related news, EVP Lynnette R. Heath sold 4,041 shares of the firm'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 sale, the executive vice president now owns 32,665 shares of the company's stock, valued at $2,003,997.75. This trade represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.80% of the company's stock.

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.