4,000 Shares in nVent Electric plc (NYSE:NVT) Purchased by Everence Capital Management Inc.

Everence Capital Management Inc. bought a new position in nVent Electric plc (NYSE:NVT) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,000 shares of the company’s stock, valued at approximately $273,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NVT. Federated Hermes Inc. raised its holdings in nVent Electric by 6.6% in the 2nd quarter. Federated Hermes Inc. now owns 410,902 shares of the company’s stock worth $31,479,000 after acquiring an additional 25,482 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of nVent Electric by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after purchasing an additional 29,794 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of nVent Electric by 101.2% during the second quarter. AQR Capital Management LLC now owns 358,757 shares of the company’s stock valued at $27,484,000 after purchasing an additional 180,488 shares in the last quarter. MQS Management LLC purchased a new stake in shares of nVent Electric during the second quarter valued at $606,000. Finally, Seven Eight Capital LP bought a new stake in nVent Electric in the 2nd quarter worth about $1,119,000. Institutional investors own 90.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Royal Bank of Canada upped their target price on shares of nVent Electric from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. KeyCorp raised their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Barclays boosted their target price on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Citigroup raised their price target on nVent Electric from $78.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $86.33.

Insiders Place Their Bets

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 value of $524,640.00. Following the completion of the sale, the director now directly owns 45,040 shares of the company’s stock, valued at $3,603,200. This represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sara E. Zawoyski sold 14,505 shares of nVent Electric stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the transaction, the chief financial officer now owns 62,215 shares in the company, valued at approximately $4,775,623.40. This trade represents a 18.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,382 shares of company stock worth $7,365,956. Company insiders own 2.50% of the company’s stock.

nVent Electric Trading Down 1.3 %

Shares of nVent Electric stock opened at $70.41 on Wednesday. nVent Electric plc has a 1-year low of $55.19 and a 1-year high of $86.57. The company’s fifty day simple moving average is $73.73 and its 200-day simple moving average is $71.54. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. The stock has a market capitalization of $11.60 billion, a PE ratio of 20.65, a P/E/G ratio of 3.86 and a beta of 1.27.

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

nVent Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.14%. This is a positive change from nVent Electric’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, January 17th. nVent Electric’s dividend payout ratio is currently 23.46%.

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.