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

Sequoia Financial Advisors LLC raised its holdings in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 11.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,195 shares of the company's stock after acquiring 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.

Several other hedge funds and other institutional investors have also made changes to their positions in NVT. Private Advisor Group LLC grew its stake in shares of nVent Electric by 15.3% in the fourth quarter. Private Advisor Group LLC now owns 8,383 shares of the company's stock valued at $571,000 after buying an additional 1,111 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of nVent Electric by 22.3% during the fourth quarter. Bank of New York Mellon Corp now owns 1,718,368 shares of the company's stock worth $117,124,000 after buying an additional 312,982 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in nVent Electric by 7.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 22,848 shares of the company's stock valued at $1,557,000 after purchasing an additional 1,607 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in nVent Electric in the fourth quarter valued at about $3,986,000. Finally, QRG Capital Management Inc. raised its stake in nVent Electric by 46.6% in the fourth quarter. QRG Capital Management Inc. now owns 5,620 shares of the company's stock valued at $383,000 after purchasing an additional 1,786 shares in the last quarter. 90.05% of the stock is owned by institutional investors.

nVent Electric Stock Up 0.4%

nVent Electric stock opened at $73.45 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.42 and a current ratio of 2.87. nVent Electric PLC has a 52-week low of $41.71 and a 52-week high of $81.55. The firm has a 50 day moving average price of $64.56 and a two-hundred day moving average price of $63.07. The firm has a market cap of $12.09 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 1.47 and a beta of 1.30.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.01. nVent Electric had a return on equity of 13.54% and a net margin of 18.22%. The firm had revenue of $809.30 million for the quarter, compared to analysts' expectations of $790.74 million. During the same period in the prior year, the business earned $0.78 EPS. The company's revenue for the quarter was up 10.5% compared to the same quarter last year. Equities analysts predict that nVent Electric PLC will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Friday, July 18th. nVent Electric's dividend payout ratio is currently 22.86%.

Insider Buying and Selling

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the firm's stock in a transaction 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 transaction, the executive vice president now directly owns 32,665 shares in the company, valued at approximately $2,003,997.75. This trade represents a 11.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on NVT. Royal Bank Of Canada boosted their price target on nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. Barclays upped their price target on shares of nVent Electric from $70.00 to $74.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. Citigroup reduced their price objective 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. Finally, CL King upgraded nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective for the company in a report on Monday, March 17th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $70.67.

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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