Csenge Advisory Group Sells 2,563 Shares of nVent Electric plc (NYSE:NVT)

Csenge Advisory Group decreased its position in shares of nVent Electric plc (NYSE:NVT) by 20.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,948 shares of the company’s stock after selling 2,563 shares during the period. Csenge Advisory Group’s holdings in nVent Electric were worth $750,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisors Asset Management Inc. boosted its stake in nVent Electric by 7.7% in the third quarter. Advisors Asset Management Inc. now owns 6,937 shares of the company’s stock worth $368,000 after buying an additional 497 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of nVent Electric by 10.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,006,320 shares of the company’s stock valued at $53,325,000 after purchasing an additional 91,709 shares during the last quarter. Lido Advisors LLC raised its position in nVent Electric by 5.1% in the 3rd quarter. Lido Advisors LLC now owns 6,515 shares of the company’s stock worth $345,000 after purchasing an additional 319 shares during the period. USA Financial Formulas lifted its stake in nVent Electric by 102.4% in the third quarter. USA Financial Formulas now owns 1,880 shares of the company’s stock worth $100,000 after purchasing an additional 951 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in nVent Electric by 102.5% during the third quarter. B. Riley Wealth Advisors Inc. now owns 11,896 shares of the company’s stock valued at $630,000 after buying an additional 6,022 shares during the period. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Stock Up 0.5 %

Shares of NYSE:NVT opened at $78.71 on Friday. The stock’s 50-day moving average is $79.37 and its 200 day moving average is $70.93. The company has a market cap of $13.07 billion, a PE ratio of 22.95, a P/E/G ratio of 1.71 and a beta of 1.31. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.99 and a quick ratio of 1.35. nVent Electric plc has a 1 year low of $45.60 and a 1 year high of $86.57.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. The firm 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%. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period last year, the company earned $0.67 EPS. Sell-side analysts anticipate that nVent Electric plc will post 3.27 EPS for the current year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.76 annualized dividend and a yield of 0.97%. nVent Electric’s dividend payout ratio (DPR) is presently 22.16%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Barclays lifted their price objective on nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, June 4th. Citigroup lifted their price target on nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Royal Bank of Canada dropped their price objective on nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. Finally, The Goldman Sachs Group raised 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. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, nVent Electric has an average rating of “Moderate Buy” and an average target price of $89.00.

About nVent Electric

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.