Sendero Wealth Management LLC Buys 4,924 Shares of nVent Electric plc (NYSE:NVT)

Sendero Wealth Management LLC lifted its position in nVent Electric plc (NYSE:NVT - Free Report) by 62.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,833 shares of the company's stock after purchasing an additional 4,924 shares during the quarter. Sendero Wealth Management LLC's holdings in nVent Electric were worth $673,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital A Wealth Management LLC purchased a new position in nVent Electric in the 4th quarter worth approximately $27,000. Whipplewood Advisors LLC raised 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 buying an additional 500 shares in the last quarter. Park Square Financial Group LLC bought a new stake in shares of nVent Electric during the 4th quarter worth $38,000. MassMutual Private Wealth & Trust FSB grew its position in nVent Electric by 43.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,112 shares of the company's stock worth $58,000 after acquiring an additional 339 shares in the last quarter. Finally, Blue Trust Inc. grew its position in nVent Electric by 243.5% in the fourth quarter. Blue Trust Inc. now owns 869 shares of the company's stock worth $61,000 after acquiring an additional 616 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total transaction of $247,915.35. Following the completion of the transaction, the executive vice president now owns 32,665 shares of the company's stock, valued at $2,003,997.75. This represents a 11.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NVT. CL King upgraded nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price target on the stock in a research report on Monday, March 17th. Royal Bank of Canada raised their price objective on nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Barclays boosted their target price on nVent Electric from $65.00 to $70.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Seaport Res Ptn raised nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. Finally, The Goldman Sachs Group decreased their price target on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $70.00.

nVent Electric Trading Down 0.1%

Shares of NVT traded down $0.08 during trading hours on Thursday, hitting $66.27. The company had a trading volume of 1,249,258 shares, compared to its average volume of 1,936,511. nVent Electric plc has a 52-week low of $41.71 and a 52-week high of $82.05. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The stock's 50 day moving average price is $57.60 and its 200 day moving average price is $63.95. The firm has a market cap of $10.91 billion, a P/E ratio of 33.81, a P/E/G ratio of 1.48 and a beta of 1.24.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly 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. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. The business had revenue of $809.30 million for the quarter, compared to analysts' expectations of $790.74 million. During the same period in the previous year, the firm earned $0.78 EPS. The business's quarterly revenue was up 10.5% on a year-over-year basis. On average, research analysts predict that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, July 18th. This represents a $0.80 annualized dividend and a yield of 1.21%. 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.