Norden Group LLC Buys 6,463 Shares of nVent Electric plc (NYSE:NVT)

Norden Group LLC raised its holdings in shares of nVent Electric plc (NYSE:NVT) by 79.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,566 shares of the company’s stock after buying an additional 6,463 shares during the quarter. Norden Group LLC’s holdings in nVent Electric were worth $861,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in NVT. Van ECK Associates Corp purchased a new position in nVent Electric during the fourth quarter valued at $2,501,000. Intrust Bank NA purchased a new position in shares of nVent Electric during the 4th quarter valued at about $242,000. Retirement Systems of Alabama increased its stake in shares of nVent Electric by 5.0% in the fourth quarter. Retirement Systems of Alabama now owns 412,691 shares of the company’s stock worth $24,386,000 after purchasing an additional 19,747 shares in the last quarter. Alliance Wealth Advisors LLC UT lifted its holdings in nVent Electric by 112.0% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 12,927 shares of the company’s stock worth $764,000 after purchasing an additional 6,829 shares in the last quarter. Finally, Headlands Technologies LLC boosted its position in shares of nVent Electric by 73.1% during the fourth quarter. Headlands Technologies LLC now owns 1,132 shares of the company’s stock worth $67,000 after acquiring an additional 478 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

Insider Transactions at nVent Electric

In other nVent Electric news, CEO Beth Wozniak sold 198,211 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $64.29, for a total value 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 $21,987.18. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Beth Wozniak sold 198,211 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $64.29, for a total value of $12,742,985.19. Following the transaction, the chief executive officer now directly owns 342 shares of the company’s stock, valued at approximately $21,987.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jerry W. Burris sold 4,008 shares of nVent Electric stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $63.39, for a total transaction of $254,067.12. Following the completion of the transaction, the director now directly owns 43,072 shares in the company, valued at approximately $2,730,334.08. The disclosure for this sale can be found here. Insiders have sold 400,252 shares of company stock valued at $25,713,777 in the last quarter. Insiders own 2.50% of the company’s stock.

nVent Electric Stock Performance

nVent Electric stock traded down $2.37 during trading hours on Tuesday, reaching $72.91. 1,227,957 shares of the stock were exchanged, compared to its average volume of 1,259,035. nVent Electric plc has a 52-week low of $40.22 and a 52-week high of $78.98. The stock has a market cap of $12.10 billion, a P/E ratio of 21.60, a P/E/G ratio of 1.63 and a beta of 1.35. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.82. The firm’s 50 day moving average is $71.74 and its 200 day moving average is $61.36.

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

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.76 annualized dividend and a yield of 1.04%. nVent Electric’s dividend payout ratio is currently 22.55%.

Analyst Ratings Changes

Several analysts have recently weighed in on NVT shares. Citigroup lifted their price target on shares of nVent Electric from $71.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Royal Bank of Canada lifted their price objective on shares of nVent Electric from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of nVent Electric in a report on Monday, March 11th. They issued a “buy” rating and a $83.00 price target on the stock. The Goldman Sachs Group lifted their price target on nVent Electric from $69.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Finally, Barclays lifted their target price on shares of nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $81.60.

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.