9,565 Shares in nVent Electric plc (NYSE:NVT) Bought by MBB Public Markets I LLC

MBB Public Markets I LLC bought a new stake in nVent Electric plc (NYSE:NVT) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,565 shares of the company’s stock, valued at approximately $733,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NVT. Banque Cantonale Vaudoise bought a new position in shares of nVent Electric during the first quarter valued at approximately $26,000. ORG Partners LLC bought a new stake in shares of nVent Electric during the 2nd quarter worth about $31,000. Rise Advisors LLC acquired a new stake in shares of nVent Electric in the 1st quarter worth approximately $32,000. First Foundation Advisors bought a new position in shares of nVent Electric in the second quarter valued at approximately $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of nVent Electric during the 2nd quarter valued at $34,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Down 2.1 %

Shares of NVT opened at $68.81 on Wednesday. nVent Electric plc has a 52 week low of $45.60 and a 52 week high of $86.57. The firm has a market capitalization of $11.42 billion, a P/E ratio of 20.06, a P/E/G ratio of 1.35 and a beta of 1.27. The company has a 50-day simple moving average of $66.45 and a 200-day simple moving average of $73.40. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 2.17.

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

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be given a dividend of $0.19 per share. The ex-dividend date is Friday, October 18th. This represents a $0.76 annualized dividend and a yield of 1.10%. nVent Electric’s dividend payout ratio (DPR) is 22.16%.

Insiders Place Their Bets

In related news, EVP Lynnette R. Heath sold 8,242 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total value of $496,662.92. Following the completion of the sale, the executive vice president now owns 30,432 shares in the company, valued at $1,833,832.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other nVent Electric news, EVP Lynnette R. Heath sold 8,242 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total value of $496,662.92. Following the completion of the transaction, the executive vice president now directly owns 30,432 shares of the company’s stock, valued at $1,833,832.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael B. Faulconer sold 20,004 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total value of $1,267,053.36. Following the sale, the insider now directly owns 19,766 shares in the company, valued at approximately $1,251,978.44. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. KeyCorp upgraded shares of nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 price target on the stock in a research report on Wednesday, September 4th. Royal Bank of Canada dropped their target price on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, Barclays increased their target price on nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $86.50.

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.