Sequoia Financial Advisors LLC Acquires 5,342 Shares of nVent Electric PLC (NYSE:NVT)

Sequoia Financial Advisors LLC increased its holdings in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 11.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,195 shares of the company's stock after purchasing an additional 5,342 shares during the quarter. Sequoia Financial Advisors LLC's holdings in nVent Electric were worth $2,736,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Capital A Wealth Management LLC purchased a new stake in shares of nVent Electric during the 4th quarter valued at $27,000. Park Square Financial Group LLC acquired a new position in nVent Electric during the 4th quarter valued at about $38,000. Whipplewood Advisors LLC increased its position in nVent Electric by 467.3% in the 1st quarter. Whipplewood Advisors LLC now owns 607 shares of the company's stock valued at $32,000 after acquiring an additional 500 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of nVent Electric during the fourth quarter valued at about $65,000. Finally, Huntington National Bank lifted its position in nVent Electric by 60.9% in the fourth quarter. Huntington National Bank now owns 985 shares of the company's stock worth $67,000 after purchasing an additional 373 shares during the period. Hedge funds and other institutional investors own 90.05% of the company's stock.

Analyst Ratings Changes

NVT has been the topic of a number of recent analyst reports. Seaport Res Ptn raised nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. Barclays boosted their price target on shares of nVent Electric from $70.00 to $74.00 and gave the company an "overweight" rating in a report on Monday, June 9th. The Goldman Sachs Group reduced their price objective 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. Royal Bank Of Canada boosted their target price 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, CL King upgraded nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price on the stock in a report on Monday, March 17th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $70.67.

Insider Activity at nVent Electric

In other nVent Electric 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.50% of the company's stock.

nVent Electric Stock Performance

Shares of nVent Electric stock traded up $1.34 during midday trading on Wednesday, hitting $73.50. The company had a trading volume of 1,326,230 shares, compared to its average volume of 1,947,126. nVent Electric PLC has a 1-year low of $41.71 and a 1-year high of $81.55. The business's 50 day simple moving average is $65.51 and its two-hundred day simple moving average is $63.04. The stock has a market cap of $12.10 billion, a PE ratio of 20.98, a P/E/G ratio of 1.47 and a beta of 1.31. 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 posted its quarterly earnings data on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. The company had revenue of $809.30 million for the quarter, compared to the consensus estimate of $790.74 million. nVent Electric had a net margin of 18.22% and a return on equity of 13.54%. The business's revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 EPS. As a group, equities analysts predict that nVent Electric PLC will post 3.04 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be paid 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 1.09%. nVent Electric's dividend payout ratio is currently 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.