nVent Electric PLC (NYSE:NVT) Shares Purchased by HB Wealth Management LLC

HB Wealth Management LLC lifted its stake in nVent Electric PLC (NYSE:NVT - Free Report) by 145.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,799 shares of the company's stock after acquiring an additional 5,813 shares during the period. HB Wealth Management LLC's holdings in nVent Electric were worth $514,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Capital A Wealth Management LLC bought a new stake in nVent Electric during the fourth quarter worth approximately $27,000. Whipplewood Advisors LLC increased its position in shares of nVent Electric by 467.3% during the 1st quarter. Whipplewood Advisors LLC now owns 607 shares of the company's stock valued at $32,000 after purchasing an additional 500 shares during the period. Hughes Financial Services LLC bought a new stake in shares of nVent Electric in the 1st quarter worth $36,000. Park Square Financial Group LLC acquired a new stake in shares of nVent Electric in the fourth quarter valued at $38,000. Finally, First Horizon Advisors Inc. lifted its holdings in shares of nVent Electric by 58.0% in the first quarter. First Horizon Advisors Inc. now owns 817 shares of the company's stock valued at $43,000 after buying an additional 300 shares during the period. 90.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Citigroup lifted their target price on nVent Electric from $69.00 to $86.00 and gave the stock a "buy" rating in a report on Monday, July 14th. The Goldman Sachs Group lifted their price objective on shares of nVent Electric from $78.00 to $87.00 and gave the stock 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 research note on Wednesday, July 9th. Wall Street Zen upgraded shares of nVent Electric from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Finally, Royal Bank Of Canada upped their price target on nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $81.57.

Insider Buying and Selling at nVent Electric

In related news, EVP Lynnette R. Heath sold 4,041 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $61.35, for a total value of $247,915.35. Following the completion of the sale, the executive vice president directly owned 32,665 shares of the company's stock, valued at approximately $2,003,997.75. This represents a 11.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company's stock.

nVent Electric Stock Performance

nVent Electric stock opened at $78.51 on Friday. nVent Electric PLC has a fifty-two week low of $41.71 and a fifty-two week high of $81.20. The firm's 50 day simple moving average is $72.01 and its 200-day simple moving average is $64.00. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.87 and a quick ratio of 2.42. The company has a market cap of $12.93 billion, a P/E ratio of 22.43, a price-to-earnings-growth ratio of 1.56 and a beta of 1.31.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $809.30 million during the quarter, compared to analyst estimates of $790.74 million. During the same quarter last year, the business posted $0.78 EPS. The company's revenue was up 10.5% on a year-over-year basis. As a group, equities research analysts predict that nVent Electric PLC will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. nVent Electric's 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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