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

nVent Electric logo with Computer and Technology background

SG Americas Securities LLC bought a new position in shares of nVent Electric PLC (NYSE:NVT - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 15,552 shares of the company's stock, valued at approximately $815,000.

Several other institutional investors also recently made changes to their positions in NVT. Capital A Wealth Management LLC purchased a new stake in shares of nVent Electric in the 4th quarter worth about $27,000. Whipplewood Advisors LLC boosted its position in shares of nVent Electric by 467.3% in the 1st quarter. Whipplewood Advisors LLC now owns 607 shares of the company's stock worth $32,000 after buying an additional 500 shares in the last quarter. Park Square Financial Group LLC purchased a new stake in shares of nVent Electric in the 4th quarter worth about $38,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of nVent Electric by 43.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,112 shares of the company's stock worth $58,000 after buying an additional 339 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of nVent Electric in the 4th quarter worth about $65,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NVT. The Goldman Sachs Group cut their target price on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Citigroup cut their target price on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a research note on Monday, April 14th. CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price for the company in a research note on Monday, March 17th. Barclays boosted their target price on shares of nVent Electric from $70.00 to $74.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Finally, Seaport Res Ptn raised shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $70.67.

Get Our Latest Report on NVT

Insider Activity

In related news, EVP Lynnette R. Heath sold 4,041 shares of the 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 completion of the sale, the executive vice president now owns 32,665 shares of the company's stock, valued at approximately $2,003,997.75. This represents a 11.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.50% of the company's stock.

nVent Electric Trading Up 0.8%

Shares of NYSE NVT traded up $0.56 on Monday, reaching $70.82. 1,385,373 shares of the company traded hands, compared to its average volume of 1,942,377. nVent Electric PLC has a fifty-two week low of $41.71 and a fifty-two week high of $81.55. The company has a 50 day moving average of $62.32 and a 200 day moving average of $63.09. The company has a current ratio of 2.87, a quick ratio of 2.42 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $11.66 billion, a PE ratio of 20.23, a P/E/G ratio of 1.41 and a beta of 1.30.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The company reported $0.67 EPS 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 company had revenue of $809.30 million during the quarter, compared to the consensus estimate of $790.74 million. During the same quarter in the prior year, the company posted $0.78 EPS. The company's quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts forecast that nVent Electric PLC will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, July 18th. nVent Electric's dividend payout ratio is currently 22.86%.

About nVent Electric

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for nVent Electric (NYSE:NVT)

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