SG Americas Securities LLC Makes New Investment in nVent Electric PLC (NYSE:NVT)

SG Americas Securities LLC acquired a new stake in shares of nVent Electric PLC (NYSE:NVT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,552 shares of the company's stock, valued at approximately $815,000.

Several other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in shares of nVent Electric by 74.3% in the first quarter. GAMMA Investing LLC now owns 3,476 shares of the company's stock worth $182,000 after buying an additional 1,482 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of nVent Electric by 48.8% in the first quarter. Harbor Capital Advisors Inc. now owns 33,200 shares of the company's stock worth $1,740,000 after buying an additional 10,895 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of nVent Electric by 381.0% in the first quarter. Farther Finance Advisors LLC now owns 1,996 shares of the company's stock worth $106,000 after buying an additional 1,581 shares in the last quarter. Portside Wealth Group LLC lifted its holdings in shares of nVent Electric by 7.0% in the first quarter. Portside Wealth Group LLC now owns 7,607 shares of the company's stock worth $399,000 after buying an additional 499 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its holdings in shares of nVent Electric by 2.0% in the first quarter. Park Avenue Securities LLC now owns 14,645 shares of the company's stock worth $768,000 after buying an additional 291 shares in the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Barclays increased their price target on shares of nVent Electric from $70.00 to $74.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Royal Bank Of Canada increased their price target 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. The Goldman Sachs Group lowered their price target on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Finally, Citigroup lowered their price target on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $70.67.

Insiders Place Their Bets

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of nVent Electric stock in a transaction that occurred on Thursday, May 8th. The shares were 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 of the company's stock, valued at approximately $2,003,997.75. This trade represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.80% of the company's stock.

nVent Electric Price Performance

Shares of NVT stock traded down $0.21 during trading on Friday, hitting $70.26. The company had a trading volume of 1,629,687 shares, compared to its average volume of 1,945,809. The company has a quick ratio of 2.42, a current ratio of 2.87 and a debt-to-equity ratio of 0.48. The stock's 50-day moving average is $62.32 and its two-hundred day moving average is $63.30. The stock has a market capitalization of $11.57 billion, a price-to-earnings ratio of 20.07, a price-to-earnings-growth ratio of 1.41 and a beta of 1.30. nVent Electric PLC has a 52 week low of $41.71 and a 52 week high of $81.55.

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 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 analysts' expectations of $790.74 million. nVent Electric had a net margin of 18.22% and a return on equity of 13.54%. nVent Electric's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.78 earnings per share. As a group, analysts predict that nVent Electric PLC will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

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 given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Friday, July 18th. nVent Electric's payout ratio is currently 22.86%.

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.