nVent Electric plc (NYSE:NVT) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC decreased its position in nVent Electric plc (NYSE:NVT) by 1.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,788 shares of the company’s stock after selling 377 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in nVent Electric were worth $2,246,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in NVT. Norges Bank acquired a new position in shares of nVent Electric in the 4th quarter worth approximately $109,630,000. Balyasny Asset Management L.P. boosted its position in nVent Electric by 201.9% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,401,285 shares of the company’s stock valued at $82,802,000 after purchasing an additional 937,149 shares during the period. Schroder Investment Management Group acquired a new position in nVent Electric during the 4th quarter valued at approximately $51,781,000. Goldman Sachs Group Inc. boosted its position in nVent Electric by 50.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,633,421 shares of the company’s stock valued at $96,519,000 after purchasing an additional 547,624 shares during the period. Finally, Public Employees Retirement Association of Colorado boosted its position in nVent Electric by 2,475.4% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 558,714 shares of the company’s stock valued at $33,014,000 after purchasing an additional 537,020 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NVT shares. Citigroup boosted their price target on nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Royal Bank of Canada reduced their price target on nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. Barclays boosted their price target on nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. The Goldman Sachs Group boosted their price target on nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Finally, Deutsche Bank Aktiengesellschaft started coverage on nVent Electric in a research note on Monday, March 11th. They issued a “buy” rating and a $83.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, nVent Electric currently has an average rating of “Moderate Buy” and a consensus price target of $89.00.

nVent Electric Stock Up 2.2 %

NVT opened at $77.32 on Friday. The stock’s fifty day moving average is $78.92 and its 200-day moving average is $70.23. The company has a market capitalization of $12.84 billion, a PE ratio of 22.54, a P/E/G ratio of 1.65 and a beta of 1.31. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.35 and a current ratio of 1.99. nVent Electric plc has a one year low of $45.60 and a one year high of $86.57.

nVent Electric (NYSE:NVT) last announced its earnings results on Friday, May 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. The company had revenue of $874.60 million for the quarter, compared to analyst estimates of $864.14 million. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. nVent Electric’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.67 earnings per share. On average, equities analysts predict that nVent Electric plc will post 3.27 EPS for the current fiscal year.

nVent Electric Announces Dividend

The business 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. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, July 19th. nVent Electric’s dividend payout ratio (DPR) is presently 22.16%.

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.