US Bancorp DE Grows Stock Position in nVent Electric plc (NYSE:NVT)

US Bancorp DE grew its holdings in shares of nVent Electric plc (NYSE:NVTFree Report) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 219,989 shares of the company’s stock after purchasing an additional 3,462 shares during the quarter. US Bancorp DE owned approximately 0.13% of nVent Electric worth $12,999,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NVT. Private Advisor Group LLC purchased a new stake in shares of nVent Electric during the 3rd quarter valued at about $319,000. EverSource Wealth Advisors LLC increased its position in shares of nVent Electric by 39.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,489 shares of the company’s stock valued at $79,000 after purchasing an additional 422 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of nVent Electric during the 3rd quarter valued at about $326,000. Assenagon Asset Management S.A. purchased a new stake in shares of nVent Electric during the 3rd quarter valued at about $1,595,000. Finally, HM Payson & Co. purchased a new stake in shares of nVent Electric during the 3rd quarter valued at about $26,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NVT shares. Citigroup increased their target price on shares of nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Barclays increased their target price on shares of nVent Electric from $74.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. The Goldman Sachs Group increased their target price on shares of nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Royal Bank of Canada reduced their target price on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a report on Monday, May 6th. Finally, Deutsche Bank Aktiengesellschaft began 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. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, nVent Electric currently has a consensus rating of “Moderate Buy” and an average price target of $87.00.

Get Our Latest Research Report on nVent Electric

Insider Activity

In other news, insider Michael B. Faulconer sold 10,961 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $67.33, for a total transaction of $738,004.13. Following the completion of the transaction, the insider now directly owns 33,109 shares in the company, valued at approximately $2,229,228.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.50% of the company’s stock.

nVent Electric Trading Up 3.7 %

NVT stock opened at $85.43 on Monday. nVent Electric plc has a 1-year low of $42.00 and a 1-year high of $85.75. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.99 and a quick ratio of 1.35. The company has a market capitalization of $14.18 billion, a price-to-earnings ratio of 24.91, a PEG ratio of 1.97 and a beta of 1.35. The business has a 50 day simple moving average of $76.21 and a two-hundred day simple moving average of $65.46.

nVent Electric (NYSE:NVTGet Free Report) last posted its 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. The firm had revenue of $874.60 million during the quarter, compared to the consensus estimate of $864.14 million. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 EPS. Research analysts anticipate that nVent Electric plc will post 3.27 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be given a dividend of $0.19 per share. The ex-dividend date is Friday, July 19th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.89%. nVent Electric’s dividend payout ratio is currently 22.16%.

nVent Electric Profile

(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.

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

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