Oppenheimer & Co. Inc. Purchases 343 Shares of nVent Electric plc (NYSE:NVT)

Oppenheimer & Co. Inc. increased its position in shares of nVent Electric plc (NYSE:NVT) by 1.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 21,519 shares of the company’s stock after buying an additional 343 shares during the period. Oppenheimer & Co. Inc.’s holdings in nVent Electric were worth $1,623,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of NVT. Quent Capital LLC raised its stake in nVent Electric by 123.2% during the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after buying an additional 234 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in nVent Electric during the first quarter worth $26,000. Livelsberger Financial Advisory bought a new position in nVent Electric during the fourth quarter worth $28,000. Rise Advisors LLC bought a new stake in nVent Electric in the first quarter valued at $32,000. Finally, Smithfield Trust Co increased its stake in nVent Electric by 650.0% in the fourth quarter. Smithfield Trust Co now owns 630 shares of the company’s stock valued at $36,000 after purchasing an additional 546 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NVT shares. Barclays lifted their price target on shares of nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th. The Goldman Sachs Group lifted their price target on shares of nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Citigroup lifted their price target on shares of nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Finally, Royal Bank of Canada decreased their price target on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.00.

nVent Electric Stock Down 0.6 %

nVent Electric stock opened at $78.24 on Monday. nVent Electric plc has a fifty-two week low of $45.60 and a fifty-two week high of $86.57. The stock has a market cap of $12.99 billion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 1.71 and a beta of 1.31. The firm’s 50-day simple moving average is $79.41 and its 200 day simple moving average is $71.23. 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 (NYSE:NVT) last released its quarterly earnings results on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.04. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The business had revenue of $874.60 million for the quarter, compared to analysts’ expectations of $864.14 million. During the same period in the previous year, the company earned $0.67 earnings per share. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. Research analysts predict that nVent Electric plc will post 3.27 EPS for the current fiscal year.

nVent Electric Dividend Announcement

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

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.