SeaBridge Investment Advisors LLC Sells 67,964 Shares of nVent Electric PLC (NYSE:NVT)

SeaBridge Investment Advisors LLC cut its position in nVent Electric PLC (NYSE:NVT - Free Report) by 75.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,951 shares of the company's stock after selling 67,964 shares during the period. SeaBridge Investment Advisors LLC's holdings in nVent Electric were worth $1,151,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Signaturefd LLC grew its position in nVent Electric by 45.9% in the first quarter. Signaturefd LLC now owns 2,156 shares of the company's stock valued at $113,000 after purchasing an additional 678 shares in the last quarter. Marks Group Wealth Management Inc grew its position in nVent Electric by 15.4% in the first quarter. Marks Group Wealth Management Inc now owns 147,468 shares of the company's stock valued at $7,730,000 after purchasing an additional 19,692 shares in the last quarter. CWM LLC grew its position in nVent Electric by 83.5% in the first quarter. CWM LLC now owns 6,697 shares of the company's stock valued at $351,000 after purchasing an additional 3,048 shares in the last quarter. Hughes Financial Services LLC bought a new position in nVent Electric in the first quarter valued at $36,000. Finally, Louisiana State Employees Retirement System grew its position in nVent Electric by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 46,200 shares of the company's stock valued at $2,422,000 after purchasing an additional 500 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on NVT shares. Royal Bank Of Canada lifted their target price on shares of nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Seaport Res Ptn raised shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. Barclays lifted their target price on shares of nVent Electric from $74.00 to $80.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. The Goldman Sachs Group lifted their target price on shares of nVent Electric from $78.00 to $87.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Finally, Wall Street Zen raised shares of nVent Electric from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $80.33.

Insider Buying and Selling

In other news, EVP Lynnette R. Heath sold 4,041 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is owned by company insiders.

nVent Electric Stock Performance

Shares of NVT stock traded down $1.28 during trading hours on Friday, hitting $75.95. 1,572,886 shares of the company were exchanged, compared to its average volume of 1,987,049. The firm has a fifty day simple moving average of $70.02 and a 200 day simple moving average of $63.51. 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 PLC has a 52-week low of $41.71 and a 52-week high of $81.20. The stock has a market capitalization of $12.50 billion, a price-to-earnings ratio of 21.70, a P/E/G ratio of 1.53 and a beta of 1.31.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, beating 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 business had revenue of $809.30 million during the quarter, compared to analyst estimates of $790.74 million. During the same period in the previous year, the business earned $0.78 EPS. nVent Electric's revenue was up 10.5% compared to the same quarter last year. Research analysts predict that nVent Electric PLC will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.05%. The ex-dividend date is Friday, July 18th. nVent Electric's dividend payout ratio is presently 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.