Envestnet Portfolio Solutions Inc. Has $526,000 Position in nVent Electric PLC (NYSE:NVT)

Envestnet Portfolio Solutions Inc. lowered its position in nVent Electric PLC (NYSE:NVT - Free Report) by 69.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,026 shares of the company's stock after selling 22,424 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in nVent Electric were worth $526,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of NVT. Capital A Wealth Management LLC acquired a new stake in nVent Electric during the 4th quarter valued at $27,000. Whipplewood Advisors LLC grew its holdings in shares of nVent Electric by 467.3% during the first quarter. Whipplewood Advisors LLC now owns 607 shares of the company's stock worth $32,000 after purchasing an additional 500 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in shares of nVent Electric in the fourth quarter valued at $38,000. CX Institutional bought a new position in shares of nVent Electric in the first quarter valued at about $54,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of nVent Electric by 43.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,112 shares of the company's stock valued at $58,000 after buying an additional 339 shares during the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NVT has been the topic of a number of research analyst reports. KeyCorp increased their price objective on shares of nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Citigroup decreased their price target on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Barclays boosted their price objective on shares of nVent Electric from $70.00 to $74.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Seaport Res Ptn upgraded nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. Finally, The Goldman Sachs Group dropped their target price on nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $70.67.

Insider Buying and Selling

In other nVent Electric 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 transaction, the executive vice president owned 32,665 shares of the company's stock, valued at approximately $2,003,997.75. This represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.50% of the company's stock.

nVent Electric Trading Up 0.1%

Shares of NVT traded up $0.09 on Monday, reaching $73.44. 1,276,824 shares of the company's stock were exchanged, compared to its average volume of 1,944,345. The business has a 50 day moving average price of $64.56 and a two-hundred day moving average price of $62.98. nVent Electric PLC has a 12 month low of $41.71 and a 12 month high of $81.55. The stock has a market capitalization of $12.09 billion, a P/E ratio of 20.98, a price-to-earnings-growth ratio of 1.47 and a beta of 1.30. The company has a current ratio of 2.87, a quick ratio of 2.42 and a debt-to-equity ratio of 0.48.

nVent Electric (NYSE:NVT - Get Free Report) last released its earnings results on Friday, May 2nd. The company reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.01. The firm had revenue of $809.30 million during the quarter, compared to analyst estimates of $790.74 million. nVent Electric had a net margin of 18.22% and a return on equity of 13.54%. The business's quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.78 EPS. Research analysts anticipate 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 will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.09%. nVent Electric's dividend payout ratio (DPR) is presently 22.86%.

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.