Montag A & Associates Inc. Makes New Investment in nVent Electric plc (NYSE:NVT)

Montag A & Associates Inc. purchased a new position in shares of nVent Electric plc (NYSE:NVT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,000 shares of the company's stock, valued at approximately $709,000.

A number of other institutional investors have also recently bought and sold shares of NVT. Congress Asset Management Co. MA acquired a new position in nVent Electric during the third quarter worth approximately $116,908,000. FMR LLC grew its position in shares of nVent Electric by 41.8% in the third quarter. FMR LLC now owns 6,556,055 shares of the company's stock valued at $347,405,000 after purchasing an additional 1,932,142 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of nVent Electric by 68.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,952,040 shares of the company's stock valued at $209,419,000 after purchasing an additional 1,604,534 shares during the last quarter. Robeco Schweiz AG grew its position in shares of nVent Electric by 3,911.6% in the third quarter. Robeco Schweiz AG now owns 1,315,800 shares of the company's stock valued at $69,724,000 after purchasing an additional 1,283,000 shares during the last quarter. Finally, Fiera Capital Corp acquired a new position in shares of nVent Electric in the third quarter valued at approximately $36,106,000. Institutional investors and hedge funds own 90.05% of the company's stock.

nVent Electric Price Performance

NYSE NVT traded down $0.32 on Friday, hitting $81.75. 1,569,161 shares of the company's stock were exchanged, compared to its average volume of 1,706,063. The stock has a 50-day moving average of $73.67 and a 200-day moving average of $62.88. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54. nVent Electric plc has a 52 week low of $40.22 and a 52 week high of $83.78. The stock has a market cap of $13.57 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 1.64 and a beta of 1.35.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings results on Friday, May 3rd. The company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.04. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The company had revenue of $874.60 million during the quarter, compared to analysts' expectations of $864.14 million. During the same period in the prior year, the company earned $0.67 EPS. nVent Electric's revenue was up 18.0% compared to the same quarter last year. Analysts expect that nVent Electric plc will post 3.24 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Thursday, April 25th. nVent Electric's payout ratio is 22.16%.

Insider Activity

In related news, Director Jerry W. Burris sold 4,008 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $63.39, for a total value of $254,067.12. Following the completion of the sale, the director now directly owns 43,072 shares in the company, valued at $2,730,334.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Jerry W. Burris sold 4,008 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $63.39, for a total value of $254,067.12. Following the completion of the sale, the director now directly owns 43,072 shares in the company, valued at $2,730,334.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael B. Faulconer sold 10,961 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $67.33, for a total value of $738,004.13. Following the completion of the sale, the insider now owns 33,109 shares of the company's stock, valued at $2,229,228.97. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Barclays upped their target price on nVent Electric from $74.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday, April 2nd. Royal Bank of Canada cut their price target on nVent Electric from $89.00 to $88.00 and set an "outperform" rating for the company in a research note on Monday. Deutsche Bank Aktiengesellschaft initiated coverage on nVent Electric in a research note on Monday, March 11th. They issued a "buy" rating and a $83.00 price target for the company. The Goldman Sachs Group boosted their price target on nVent Electric from $77.00 to $87.00 and gave the company a "buy" rating in a research note on Monday. Finally, Citigroup boosted their price target on nVent Electric from $91.00 to $92.00 and gave the company a "buy" rating in a research note on Monday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $87.00.

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.

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