Sequoia Financial Advisors LLC Acquires Shares of 42,179 nVent Electric plc (NYSE:NVT)

Sequoia Financial Advisors LLC purchased a new position in nVent Electric plc (NYSE:NVT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 42,179 shares of the company's stock, valued at approximately $2,492,000.

Other large investors also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. raised its position in shares of nVent Electric by 9.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 10,999 shares of the company's stock worth $383,000 after purchasing an additional 923 shares during the last quarter. AlphaCrest Capital Management LLC raised its holdings in shares of nVent Electric by 36.8% during the first quarter. AlphaCrest Capital Management LLC now owns 11,498 shares of the company's stock valued at $400,000 after acquiring an additional 3,093 shares during the last quarter. Natixis Advisors L.P. lifted its position in shares of nVent Electric by 15.4% in the first quarter. Natixis Advisors L.P. now owns 43,511 shares of the company's stock valued at $1,514,000 after acquiring an additional 5,807 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of nVent Electric by 10.6% in the first quarter. Bank of Montreal Can now owns 21,601 shares of the company's stock worth $768,000 after acquiring an additional 2,072 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of nVent Electric by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 61,657 shares of the company's stock worth $2,144,000 after purchasing an additional 5,879 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

nVent Electric Trading Down 1.0 %

Shares of nVent Electric stock traded down $0.73 during mid-day trading on Friday, hitting $74.17. The stock had a trading volume of 824,011 shares, compared to its average volume of 1,226,879. The firm has a market cap of $12.31 billion, a P/E ratio of 22.23, a price-to-earnings-growth ratio of 1.60 and a beta of 1.35. The company has a quick ratio of 1.22, a current ratio of 1.82 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average of $69.35 and a two-hundred day moving average of $59.55. nVent Electric plc has a 12-month low of $40.19 and a 12-month high of $78.98.

nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.03. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. The company had revenue of $861.20 million during the quarter, compared to analyst estimates of $866.90 million. During the same period in the prior year, the business posted $0.66 earnings per share. The firm's revenue for the quarter was up 16.1% compared to the same quarter last year. Sell-side analysts forecast that nVent Electric plc will post 3.24 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be given a $0.19 dividend. The ex-dividend date is Thursday, April 25th. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. nVent Electric's payout ratio is currently 22.55%.

Analysts Set New Price Targets

NVT has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on nVent Electric in a report on Monday, March 11th. They issued a "buy" rating and a $83.00 price objective on the stock. Citigroup boosted their price target on shares of nVent Electric from $71.00 to $91.00 and gave the stock a "buy" rating in a research report on Monday. The Goldman Sachs Group raised their target price on shares of nVent Electric from $69.00 to $77.00 and gave the stock a "buy" rating in a research note on Friday, March 15th. Barclays increased their price target on nVent Electric from $74.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, April 2nd. Finally, Royal Bank of Canada boosted their price objective on nVent Electric from $65.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $81.60.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, insider Michael B. Faulconer sold 10,961 shares of nVent Electric stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $67.33, for a total transaction of $738,004.13. Following the completion of the sale, the insider now directly owns 33,109 shares in the company, valued at $2,229,228.97. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Beth Wozniak sold 198,211 shares of the firm's stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the completion of the transaction, the chief executive officer now directly owns 342 shares in the company, valued at approximately $21,987.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael B. Faulconer sold 10,961 shares of the business's stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $67.33, for a total transaction of $738,004.13. Following the sale, the insider now owns 33,109 shares in the company, valued at $2,229,228.97. The disclosure for this sale can be found here. Insiders have sold 400,252 shares of company stock valued at $25,713,777 over the last 90 days. 2.40% of the stock is owned by insiders.

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.