nVent Electric PLC (NYSE:NVT) Shares Bought by LPL Financial LLC

Key Points

• LPL Financial LLC increased its holdings in nVent Electric PLC by 11.4% in the first quarter, purchasing an additional 16,006 shares to reach a total of 156,049 shares valued at approximately $8.18 million.
• Analysts have issued bullish reports on nVent Electric, with multiple firms raising their price targets, including Roth Capital raising its target from $89.00 to $100.00, indicating strong market confidence.
• nVent Electric reported an EPS of $0.86 for the most recent quarter, beating estimates and showing a 30.1% year-over-year revenue increase, with a net revenue of $963.10 million.

LPL Financial LLC increased its stake in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 11.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,049 shares of the company's stock after buying an additional 16,006 shares during the quarter. LPL Financial LLC owned about 0.09% of nVent Electric worth $8,180,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. 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 worth $608,000 after purchasing an additional 200 shares during the last quarter. Hancock Whitney Corp raised its position 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 purchasing an additional 206 shares during the last quarter. Portside Wealth Group LLC raised its position 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 purchasing an additional 219 shares during the last quarter. Parallel Advisors LLC raised its position 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 purchasing an additional 230 shares during the last quarter. Finally, Allworth Financial LP raised its position in shares of nVent Electric by 39.9% during the 1st quarter. Allworth Financial LP now owns 876 shares of the company's stock worth $48,000 after purchasing an additional 250 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on NVT. The Goldman Sachs Group upped their price target on shares of nVent Electric from $78.00 to $87.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Royal Bank Of Canada restated an "outperform" rating and set a $102.00 price target (up previously from $85.00) on shares of nVent Electric in a research report on Monday, August 4th. Wall Street Zen upgraded shares of nVent Electric from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Citigroup upped their price objective on shares of nVent Electric from $69.00 to $86.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, Roth Capital reaffirmed a "buy" rating and set a $100.00 price objective (up previously from $89.00) on shares of nVent Electric in a research note on Monday, August 4th. Eight investment 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 has an average rating of "Buy" and a consensus price target of $87.00.

Insider Transactions at nVent Electric

In other nVent Electric news, EVP Aravind Padmanabhan sold 24,534 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $90.00, for a total transaction of $2,208,060.00. Following the sale, the executive vice president directly owned 12,063 shares in the company, valued at $1,085,670. This represents a 67.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sara E. Zawoyski sold 22,109 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $89.54, for a total transaction of $1,979,639.86. Following the sale, the insider owned 66,640 shares in the company, valued at approximately $5,966,945.60. This trade represents a 24.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 218,780 shares of company stock worth $19,591,172. 1.80% of the stock is owned by company insiders.

nVent Electric Trading Down 0.9%

Shares of NVT stock traded down $0.80 during trading hours on Thursday, hitting $89.81. The company had a trading volume of 584,906 shares, compared to its average volume of 2,198,611. The company's fifty day moving average is $76.31 and its 200 day moving average is $65.05. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.67 and a quick ratio of 1.20. nVent Electric PLC has a fifty-two week low of $41.71 and a fifty-two week high of $92.75. The stock has a market capitalization of $14.45 billion, a PE ratio of 25.58, a price-to-earnings-growth ratio of 1.58 and a beta of 1.35.

nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.79 by $0.07. nVent Electric had a net margin of 17.72% and a return on equity of 13.36%. The firm had revenue of $963.10 million for the quarter, compared to analyst estimates of $906.96 million. During the same period in the prior year, the business posted $0.82 EPS. The business's revenue for the quarter was up 30.1% compared to the same quarter last year. 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 disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Saturday, January 1st were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, July 18th. nVent Electric's dividend payout ratio is currently 22.79%.

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.