Larson Financial Group LLC Purchases 181 Shares of nVent Electric plc (NYSE:NVT)

Larson Financial Group LLC boosted its position in nVent Electric plc (NYSE:NVT) by 91.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 378 shares of the company’s stock after acquiring an additional 181 shares during the quarter. Larson Financial Group LLC’s holdings in nVent Electric were worth $27,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NVT. Price T Rowe Associates Inc. MD increased its stake in shares of nVent Electric by 5.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 100,384 shares of the company’s stock valued at $7,569,000 after purchasing an additional 5,305 shares during the last quarter. Cetera Investment Advisers boosted its stake in nVent Electric by 143.8% in the first quarter. Cetera Investment Advisers now owns 46,103 shares of the company’s stock valued at $3,476,000 after buying an additional 27,196 shares in the last quarter. Cetera Advisors LLC grew its position in nVent Electric by 58.6% in the first quarter. Cetera Advisors LLC now owns 8,596 shares of the company’s stock valued at $648,000 after acquiring an additional 3,177 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in nVent Electric by 15.7% during the first quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the company’s stock worth $145,000 after acquiring an additional 272 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of nVent Electric by 494.3% in the second quarter. Versant Capital Management Inc now owns 523 shares of the company’s stock worth $40,000 after acquiring an additional 435 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at nVent Electric

In other news, Director Jerry W. Burris sold 6,558 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the sale, the director now directly owns 45,040 shares in the company, valued at $3,603,200. This represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jon D. Lammers sold 67,297 shares of nVent Electric stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the transaction, the executive vice president now directly owns 58,121 shares of the company’s stock, valued at $4,421,264.47. This represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 96,382 shares of company stock valued at $7,365,956. 2.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NVT shares. KeyCorp lifted their price target on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Barclays lowered their price target on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada cut their price objective on nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nVent Electric currently has an average rating of “Buy” and a consensus target price of $85.33.

nVent Electric Trading Up 2.3 %

Shares of NYSE NVT opened at $78.31 on Friday. The stock has a market cap of $12.91 billion, a P/E ratio of 22.96, a price-to-earnings-growth ratio of 3.94 and a beta of 1.26. The firm has a 50 day moving average price of $73.57 and a two-hundred day moving average price of $73.15. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. nVent Electric plc has a 52-week low of $52.70 and a 52-week high of $86.57.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The company had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.84 earnings per share. As a group, equities analysts forecast that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric’s payout ratio is presently 22.29%.

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.