Oak Thistle LLC Has $244,000 Stake in nVent Electric PLC (NYSE:NVT)

Key Points

• Oak Thistle LLC reduced its stake in nVent Electric PLC by 68.6%, owning 4,646 shares worth approximately $244,000 after selling 10,164 shares in the first quarter.
• nVent Electric reported earnings of $0.67 EPS for the quarter, surpassing expectations, with a year-over-year revenue increase of 10.5%.
• The company declared a quarterly dividend of $0.20, representing an annualized yield of 1.02% and a payout ratio of 22.86%.

Oak Thistle LLC decreased its holdings in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 68.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,646 shares of the company's stock after selling 10,164 shares during the quarter. Oak Thistle LLC's holdings in nVent Electric were worth $244,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in NVT. Capital A Wealth Management LLC acquired a new position in nVent Electric during the fourth quarter worth $27,000. Whipplewood Advisors LLC boosted its holdings in 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. Hughes Financial Services LLC acquired a new position in nVent Electric during the first quarter worth $36,000. Park Square Financial Group LLC acquired a new position in nVent Electric during the fourth quarter worth $38,000. Finally, First Horizon Advisors Inc. boosted its holdings in nVent Electric by 58.0% during the first quarter. First Horizon Advisors Inc. now owns 817 shares of the company's stock worth $43,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

nVent Electric Price Performance

NYSE:NVT opened at $78.66 on Friday. nVent Electric PLC has a one year low of $41.71 and a one year high of $81.20. The company has a market cap of $12.95 billion, a P/E ratio of 22.48, a P/E/G ratio of 1.53 and a beta of 1.31. The firm's fifty day moving average price is $70.92 and its two-hundred day moving average price is $63.74. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.87 and a quick ratio of 2.42.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The company reported $0.67 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $790.74 million. During the same period in the previous year, the company earned $0.78 earnings per share. The company's quarterly revenue was up 10.5% on a year-over-year basis. Equities analysts expect that nVent Electric PLC will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be paid a $0.20 dividend. The ex-dividend date is Friday, July 18th. This represents a $0.80 annualized dividend and a dividend yield of 1.02%. nVent Electric's dividend payout ratio (DPR) is presently 22.86%.

Analysts Set New Price Targets

NVT has been the subject of several recent research reports. Wall Street Zen upgraded shares of nVent Electric from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Barclays upped their price target on shares of nVent Electric from $74.00 to $80.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Roth Capital assumed coverage on shares of nVent Electric in a research report on Wednesday. They set a "buy" rating and a $89.00 price target on the stock. Royal Bank Of Canada upped their price target on shares of nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Finally, KeyCorp upped their price target on shares of nVent Electric from $78.00 to $84.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $81.57.

Insider Activity at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of nVent Electric stock in a transaction dated Thursday, May 8th. The shares were 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 owned 32,665 shares in the company, valued at $2,003,997.75. The trade was a 11.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.80% of the company's stock.

About nVent Electric

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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