Harbor Capital Advisors Inc. Takes $1.52 Million Position in nVent Electric plc (NYSE:NVT)

Harbor Capital Advisors Inc. bought a new stake in shares of nVent Electric plc (NYSE:NVT) in the 4th quarter, Holdings Channel reports. The institutional investor bought 22,305 shares of the company’s stock, valued at approximately $1,520,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Larson Financial Group LLC grew its position in shares of nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in nVent Electric during the 3rd quarter valued at approximately $29,000. UMB Bank n.a. increased its stake in nVent Electric by 280.0% in the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after acquiring an additional 308 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of nVent Electric during the 2nd quarter worth approximately $34,000. Finally, Anchor Investment Management LLC boosted its position in shares of nVent Electric by 94.0% during the 2nd quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock valued at $44,000 after acquiring an additional 280 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Stock Performance

Shares of NYSE:NVT opened at $68.89 on Monday. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $11.35 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 3.86 and a beta of 1.27. nVent Electric plc has a 12 month low of $55.19 and a 12 month high of $86.57. The firm’s 50-day moving average is $73.55 and its 200 day moving average is $71.37.

nVent Electric (NYSE:NVT) last issued its quarterly 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). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The business had revenue of $782.00 million during the quarter, compared to analysts’ expectations of $937.37 million. During the same quarter in the previous year, the company posted $0.84 earnings per share. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. Research analysts predict that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be paid a dividend of $0.20 per share. This is a positive change from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Friday, January 17th. nVent Electric’s payout ratio is currently 23.46%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, CAO Randolph A. Wacker sold 8,022 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total value of $608,629.14. Following the transaction, the chief accounting officer now owns 25,993 shares of the company’s stock, valued at $1,972,088.91. This represents a 23.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jerry W. Burris sold 6,558 shares of nVent Electric 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 sale, the director now directly owns 45,040 shares of the company’s stock, valued at approximately $3,603,200. This trade represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,382 shares of company stock valued at $7,365,956 in the last 90 days. Company insiders own 2.50% of the company’s stock.

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.