nVent Electric PLC (NYSE:NVT) Shares Acquired by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. grew its holdings in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 47.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,261 shares of the company's stock after buying an additional 3,621 shares during the quarter. Avantax Advisory Services Inc.'s holdings in nVent Electric were worth $590,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quadrant Capital Group LLC grew its position in shares of nVent Electric by 4.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company's stock worth $259,000 after acquiring an additional 150 shares in the last quarter. Utah Retirement Systems raised its position 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 valued at $608,000 after acquiring an additional 200 shares in the last quarter. Hancock Whitney Corp lifted its stake in nVent Electric by 1.4% during the fourth quarter. Hancock Whitney Corp now owns 15,031 shares of the company's stock worth $1,025,000 after purchasing an additional 206 shares during the last quarter. Portside Wealth Group LLC lifted its stake in nVent Electric by 3.2% during the first quarter. Portside Wealth Group LLC now owns 7,152 shares of the company's stock worth $375,000 after purchasing an additional 219 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in nVent Electric by 15.6% in the first quarter. Parallel Advisors LLC now owns 1,702 shares of the company's stock worth $89,000 after purchasing an additional 230 shares during the period. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at nVent Electric

In other news, insider Der Kolk Robert J. Van sold 10,993 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $89.14, for a total value of $979,916.02. Following the completion of the sale, the insider directly owned 40,772 shares of the company's stock, valued at approximately $3,634,416.08. This represents a 21.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lynnette R. Heath sold 17,853 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $89.33, for a total transaction of $1,594,808.49. Following the completion of the transaction, the executive vice president owned 30,512 shares of the company's stock, valued at $2,725,636.96. This trade represents a 36.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,246 shares of company stock valued at $17,115,842. 1.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NVT. Roth Capital reissued a "buy" rating and set a $100.00 target price (up from $89.00) on shares of nVent Electric in a report on Monday. Citigroup increased their price objective on shares of nVent Electric from $69.00 to $86.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. The Goldman Sachs Group raised their target price on shares of nVent Electric from $78.00 to $87.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Barclays reaffirmed an "overweight" rating on shares of nVent Electric in a report on Monday. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $102.00 price target (up from $85.00) on shares of nVent Electric in a research report on Monday. Eight equities research analysts have rated the stock with a buy rating and one has issued 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 a consensus price target of $87.00.

nVent Electric Stock Performance

nVent Electric stock traded down $0.26 during midday trading on Friday, reaching $88.85. 544,250 shares of the stock traded hands, compared to its average volume of 2,205,897. nVent Electric PLC has a fifty-two week low of $41.71 and a fifty-two week high of $91.55. The company has a current ratio of 1.67, a quick ratio of 1.20 and a debt-to-equity ratio of 0.50. The firm has a market cap of $14.30 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 1.55 and a beta of 1.35. The firm has a fifty day moving average price of $74.38 and a two-hundred day moving average price of $64.64.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.07. nVent Electric had a return on equity of 13.36% and a net margin of 17.72%. The company had revenue of $963.10 million for the quarter, compared to analysts' expectations of $906.96 million. During the same quarter in the previous year, the company posted $0.82 earnings per share. The business's revenue for the quarter was up 30.1% compared to the same quarter last year. On average, equities research analysts forecast that nVent Electric PLC will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Saturday, January 1st were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Friday, July 18th. nVent Electric's payout ratio is currently 22.79%.

nVent Electric 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.