nVent Electric PLC (NYSE:NVT) Shares Purchased by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc increased its stake in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 15.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,468 shares of the company's stock after purchasing an additional 19,692 shares during the quarter. Marks Group Wealth Management Inc owned about 0.09% of nVent Electric worth $7,730,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Quadrant Capital Group LLC increased its stake in nVent Electric by 4.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company's stock valued at $259,000 after buying an additional 150 shares during the last quarter. Utah Retirement Systems boosted its holdings in shares of nVent Electric by 2.3% during the 4th quarter. Utah Retirement Systems now owns 8,923 shares of the company's stock worth $608,000 after buying an additional 200 shares during the period. Hancock Whitney Corp boosted its holdings in shares of nVent Electric by 1.4% during the 4th quarter. Hancock Whitney Corp now owns 15,031 shares of the company's stock worth $1,025,000 after buying an additional 206 shares during the period. Portside Wealth Group LLC boosted its holdings in shares of nVent Electric by 3.2% during the 1st quarter. Portside Wealth Group LLC now owns 7,152 shares of the company's stock worth $375,000 after buying an additional 219 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in shares of nVent Electric by 15.6% during the 1st quarter. Parallel Advisors LLC now owns 1,702 shares of the company's stock worth $89,000 after buying an additional 230 shares during the period. 90.05% of the stock is owned by institutional investors.

nVent Electric Trading Down 0.1%

Shares of NYSE NVT traded down $0.11 during mid-day trading on Monday, hitting $74.77. The stock had a trading volume of 354,666 shares, compared to its average volume of 1,982,627. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.42 and a current ratio of 2.87. The business has a 50 day moving average price of $68.56 and a two-hundred day moving average price of $63.20. The firm has a market cap of $12.31 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 1.49 and a beta of 1.31. nVent Electric PLC has a 1 year low of $41.71 and a 1 year high of $81.55.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly 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 18.22% and a return on equity of 13.54%. The company had revenue of $809.30 million for the quarter, compared to analysts' expectations of $790.74 million. During the same quarter in the previous year, the business posted $0.78 EPS. nVent Electric's revenue was up 10.5% compared to the same quarter last year. On average, equities analysts anticipate that nVent Electric PLC will post 3.04 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be paid a $0.20 dividend. The ex-dividend date is Friday, July 18th. This represents a $0.80 annualized dividend and a yield of 1.07%. nVent Electric's payout ratio is 22.86%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NVT shares. 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. Citigroup decreased their price objective on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a research report on Monday, April 14th. The Goldman Sachs Group raised their price objective on shares of nVent Electric from $78.00 to $87.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Barclays increased their target price on shares of nVent Electric from $74.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Finally, KeyCorp increased their target price 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. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $73.83.

Insiders Place Their Bets

In other news, EVP Lynnette R. Heath sold 4,041 shares of the stock in a transaction that occurred on 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 directly owned 32,665 shares in the company, valued at approximately $2,003,997.75. This represents a 11.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.50% of the stock is owned by insiders.

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.