NBC Securities Inc. Buys 6,520 Shares of nVent Electric plc (NYSE:NVT)

NBC Securities Inc. increased its stake in nVent Electric plc (NYSE:NVT - Free Report) by 108,666.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,526 shares of the company's stock after purchasing an additional 6,520 shares during the quarter. NBC Securities Inc.'s holdings in nVent Electric were worth $342,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Capital A Wealth Management LLC bought a new stake in shares of nVent Electric in the 4th quarter worth approximately $27,000. Park Square Financial Group LLC bought a new stake in shares of nVent Electric in the 4th quarter worth approximately $38,000. Blue Trust Inc. raised its holdings in shares of nVent Electric by 243.5% in the 4th quarter. Blue Trust Inc. now owns 869 shares of the company's stock worth $61,000 after purchasing an additional 616 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of nVent Electric in the 4th quarter worth approximately $65,000. Finally, Huntington National Bank raised its holdings in shares of nVent Electric by 60.9% in the 4th quarter. Huntington National Bank now owns 985 shares of the company's stock worth $67,000 after purchasing an additional 373 shares during the period. Institutional investors own 90.05% of the company's stock.

Insider Activity at nVent Electric

In related news, EVP Lynnette R. Heath sold 4,041 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $61.35, for a total transaction of $247,915.35. Following the transaction, the executive vice president now owns 32,665 shares in the company, valued at $2,003,997.75. The trade was a 11.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Citigroup reduced 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 note on Monday, April 14th. Barclays lifted their price objective on shares of nVent Electric from $65.00 to $70.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. KeyCorp lifted their price objective on shares of nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Finally, CL King upgraded 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. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $70.00.

nVent Electric Stock Up 2.7%

NVT opened at $68.13 on Friday. nVent Electric plc has a one year low of $41.71 and a one year high of $82.05. The company has a fifty day moving average price of $58.17 and a 200-day moving average price of $63.85. The firm has a market capitalization of $11.22 billion, a P/E ratio of 34.76, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28.

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 the consensus estimate 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 during the quarter, compared to analyst estimates of $790.74 million. During the same period in the previous year, the business earned $0.78 earnings per share. The firm's quarterly revenue was up 10.5% compared to the same quarter last year. Equities research analysts expect that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

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 given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Friday, July 18th. nVent Electric's dividend payout ratio is currently 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.

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