MorganRosel Wealth Management LLC Has $661,000 Stake in nVent Electric plc (NYSE:NVT)

MorganRosel Wealth Management LLC cut its position in nVent Electric plc (NYSE:NVT) by 31.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,698 shares of the company’s stock after selling 4,518 shares during the quarter. MorganRosel Wealth Management LLC’s holdings in nVent Electric were worth $661,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its stake in shares of nVent Electric by 26.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock valued at $53,000 after purchasing an additional 162 shares during the last quarter. CIBC Asset Management Inc increased its holdings in nVent Electric by 3.6% in the third quarter. CIBC Asset Management Inc now owns 4,823 shares of the company’s stock valued at $339,000 after purchasing an additional 166 shares during the period. Calamos Advisors LLC raised its position in nVent Electric by 1.6% during the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock worth $782,000 after purchasing an additional 176 shares during the last quarter. Larson Financial Group LLC lifted its holdings in nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after buying an additional 181 shares during the period. Finally, Huntington National Bank increased its stake in shares of nVent Electric by 57.3% in the third quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after buying an additional 223 shares during the period. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Stock Performance

NYSE NVT opened at $60.45 on Tuesday. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The company has a fifty day simple moving average of $68.54 and a 200 day simple moving average of $70.23. nVent Electric plc has a 12-month low of $56.44 and a 12-month high of $86.57. The company has a market cap of $9.97 billion, a P/E ratio of 30.84, a PEG ratio of 1.48 and a beta of 1.26.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. Sell-side analysts predict that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.32%. nVent Electric’s dividend payout ratio is currently 40.82%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NVT shares. Citigroup cut their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada upped their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, Barclays upped their price target on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, nVent Electric currently has an average rating of “Buy” and a consensus target price of $86.33.

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.