nVent Electric plc (NYSE:NVT) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC lessened its holdings in nVent Electric plc (NYSE:NVT) by 5.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,450 shares of the company’s stock after selling 1,226 shares during the period. Park Avenue Securities LLC’s holdings in nVent Electric were worth $1,768,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Banque Cantonale Vaudoise acquired a new position in shares of nVent Electric in the 1st quarter valued at $26,000. Rise Advisors LLC acquired a new position in shares of nVent Electric in the 1st quarter valued at $32,000. Symmetry Partners LLC acquired a new position in shares of nVent Electric in the 1st quarter valued at $335,000. Nomura Holdings Inc. acquired a new position in shares of nVent Electric in the 4th quarter valued at $4,487,000. Finally, HighPoint Advisor Group LLC acquired a new position in shares of nVent Electric in the 4th quarter valued at $162,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Barclays upped their price target on 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 increased their target price on nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Citigroup increased their target price on nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Deutsche Bank Aktiengesellschaft started coverage on nVent Electric in a research note on Monday, March 11th. They set a “buy” rating and a $83.00 target price on the stock. Finally, Royal Bank of Canada decreased their target price on nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a research note on Monday, May 6th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.00.

nVent Electric Price Performance

Shares of NYSE NVT opened at $78.13 on Monday. The stock’s 50-day moving average is $78.28 and its two-hundred day moving average is $69.22. 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. The company has a market cap of $12.97 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 1.81 and a beta of 1.31.

nVent Electric (NYSE:NVT) last issued 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 return on equity of 17.47% and a net margin of 17.02%. The company had revenue of $874.60 million for the quarter, compared to the consensus estimate of $864.14 million. During the same quarter in the prior year, the business earned $0.67 EPS. nVent Electric’s revenue was up 18.0% on a year-over-year basis. Analysts forecast that nVent Electric plc will post 3.27 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be issued a $0.19 dividend. The ex-dividend date is Friday, July 19th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.97%. nVent Electric’s payout ratio is currently 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.