Krilogy Financial LLC Takes $2.55 Million Position in nVent Electric PLC (NYSE:NVT)

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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Research Global Investors bought a new position in nVent Electric in the fourth quarter valued at about $384,749,000. Norges Bank bought a new position in shares of nVent Electric in the fourth quarter worth about $197,434,000. William Blair Investment Management LLC boosted its stake in shares of nVent Electric by 8.8% in the 4th quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company's stock valued at $176,630,000 after purchasing an additional 210,690 shares in the last quarter. Millennium Management LLC grew its holdings in shares of nVent Electric by 743.7% during the 4th quarter. Millennium Management LLC now owns 2,215,624 shares of the company's stock valued at $151,017,000 after purchasing an additional 1,953,026 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of nVent Electric by 15.0% during the 4th quarter. Invesco Ltd. now owns 1,723,868 shares of the company's stock valued at $117,499,000 after purchasing an additional 224,657 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at nVent Electric

In other news, EVP Lynnette R. Heath sold 4,041 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $61.35, for a total transaction 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 $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 through the SEC website. Corporate insiders own 2.50% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on NVT shares. CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective for the company in a research note on Monday, March 17th. Citigroup lowered their price target on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a report on Monday, April 14th. Royal Bank Of Canada raised their price objective on nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Seaport Res Ptn upgraded nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. Finally, The Goldman Sachs Group lowered their target price on nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $70.67.

nVent Electric Trading Down 0.8%

NVT traded down $0.55 during trading on Tuesday, reaching $69.86. 1,609,772 shares of the company's stock were exchanged, compared to its average volume of 1,945,132. The company has a current ratio of 2.87, a quick ratio of 2.42 and a debt-to-equity ratio of 0.48. nVent Electric PLC has a one year low of $41.71 and a one year high of $81.55. The firm has a fifty day moving average price of $61.11 and a two-hundred day moving average price of $63.35. The stock has a market capitalization of $11.50 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 1.41 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 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.01. nVent Electric had a net margin of 18.22% and a return on equity of 13.54%. The company had revenue of $809.30 million for the quarter, compared to analyst estimates of $790.74 million. During the same quarter in the previous year, the business earned $0.78 earnings per share. nVent Electric's revenue was up 10.5% compared to the same quarter last year. As a group, equities research analysts forecast 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. Shareholders 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 yield of 1.15%. The ex-dividend date of this dividend is Friday, July 18th. nVent Electric's payout ratio is presently 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.