Krilogy Financial LLC Buys Shares of 48,651 nVent Electric plc (NYSE:NVT)

Krilogy Financial LLC acquired a new position in shares of nVent Electric plc (NYSE:NVT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 48,651 shares of the company's stock, valued at approximately $2,550,000.

Other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp increased its holdings in nVent Electric by 41.4% in the 1st quarter. Fifth Third Bancorp now owns 2,811 shares of the company's stock valued at $147,000 after buying an additional 823 shares during the period. CX Institutional bought a new stake in nVent Electric in the first quarter valued at about $54,000. Handelsbanken Fonder AB raised its position in nVent Electric by 25.1% in the first quarter. Handelsbanken Fonder AB now owns 545,354 shares of the company's stock worth $28,587,000 after purchasing an additional 109,430 shares in the last quarter. SG Americas Securities LLC bought a new position in nVent Electric during the first quarter worth about $815,000. Finally, GAMMA Investing LLC grew its stake in shares of nVent Electric by 74.3% in the 1st quarter. GAMMA Investing LLC now owns 3,476 shares of the company's stock valued at $182,000 after purchasing an additional 1,482 shares during the period. Institutional investors and hedge funds own 90.05% of the company's stock.

nVent Electric Price Performance

NYSE NVT traded up $2.24 on Monday, hitting $70.37. 1,775,088 shares of the company were exchanged, compared to its average volume of 1,944,311. nVent Electric plc has a 1-year low of $41.71 and a 1-year high of $81.55. The firm has a 50 day moving average of $60.24 and a two-hundred day moving average of $63.36. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The company has a market cap of $11.59 billion, a P/E ratio of 35.90, a P/E/G ratio of 1.48 and a beta of 1.30.

nVent Electric (NYSE:NVT - Get Free Report) last announced its earnings results on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping 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 company had revenue of $809.30 million for the quarter, compared to analyst estimates of $790.74 million. During the same period in the prior year, the business earned $0.78 earnings per share. nVent Electric's quarterly revenue was up 10.5% on a year-over-year basis. On average, equities analysts predict that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be given 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 payout ratio is 22.86%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NVT shares. Royal Bank of Canada boosted their price target on nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Citigroup lowered their target price on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Seaport Res Ptn raised shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective on the stock in a research note on Monday, March 17th. Finally, Barclays raised their price objective on shares of nVent Electric from $70.00 to $74.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, nVent Electric currently has a consensus rating of "Buy" and an average target price of $70.67.

Insider Activity

In related 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 transaction of $247,915.35. Following the completion of the sale, the executive vice president now directly owns 32,665 shares of the company's stock, valued at $2,003,997.75. The trade was a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.80% of the company's stock.

About nVent Electric

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.