Creative Planning Purchases 3,277 Shares of nVent Electric plc (NYSE:NVT)

Creative Planning grew its position in nVent Electric plc (NYSE:NVT) by 16.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,191 shares of the company’s stock after acquiring an additional 3,277 shares during the quarter. Creative Planning’s holdings in nVent Electric were worth $1,629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Signaturefd LLC increased its position in nVent Electric by 22.0% in the second quarter. Signaturefd LLC now owns 860 shares of the company’s stock worth $66,000 after purchasing an additional 155 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of nVent Electric by 15.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the company’s stock worth $145,000 after buying an additional 272 shares during the last quarter. Anchor Investment Management LLC raised 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 buying an additional 280 shares in the last quarter. Sciencast Management LP raised its position in shares of nVent Electric by 7.1% during the 1st quarter. Sciencast Management LP now owns 4,397 shares of the company’s stock valued at $332,000 after buying an additional 293 shares in the last quarter. Finally, Banque Cantonale Vaudoise lifted its holdings in shares of nVent Electric by 87.2% in the 2nd quarter. Banque Cantonale Vaudoise now owns 642 shares of the company’s stock valued at $49,000 after acquiring an additional 299 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on NVT shares. Barclays dropped their price objective on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Royal Bank of Canada dropped their price target on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, KeyCorp upped 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. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nVent Electric has an average rating of “Buy” and a consensus target price of $85.67.

Insider Activity at nVent Electric

In related news, Director Herbert K. Parker bought 7,566 shares of the stock in a transaction on Thursday, August 15th. The stock was bought at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the acquisition, the director now directly owns 34,524 shares in the company, valued at approximately $2,268,572.04. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Lynnette R. Heath sold 8,242 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total value of $496,662.92. Following the sale, the executive vice president now directly owns 30,432 shares in the company, valued at approximately $1,833,832.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Herbert K. Parker acquired 7,566 shares of nVent Electric stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of $65.71 per share, with a total value of $497,161.86. Following the purchase, the director now owns 34,524 shares in the company, valued at $2,268,572.04. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.50% of the stock is currently owned by corporate insiders.

nVent Electric Trading Down 0.3 %

Shares of NYSE NVT opened at $74.59 on Wednesday. nVent Electric plc has a twelve month low of $46.63 and a twelve month high of $86.57. The company has a quick ratio of 1.49, a current ratio of 2.17 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $69.10 and a two-hundred day simple moving average of $73.14. The firm has a market cap of $12.38 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 1.50 and a beta of 1.27.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.01). nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The firm had revenue of $880.30 million during the quarter, compared to the consensus estimate of $892.89 million. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The business’s revenue was up 9.6% compared to the same quarter last year. Analysts expect that nVent Electric plc will post 3.26 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.02%. nVent Electric’s dividend payout ratio is presently 22.16%.

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.