Mach 1 Financial Group LLC Purchases New Holdings in nVent Electric plc (NYSE:NVT)

Mach 1 Financial Group LLC acquired a new position in shares of nVent Electric plc (NYSE:NVT) in the 4th quarter, HoldingsChannel reports. The firm acquired 3,702 shares of the company’s stock, valued at approximately $219,000.

A number of other hedge funds have also made changes to their positions in the company. Quent Capital LLC raised its stake in nVent Electric by 123.2% in the 4th quarter. Quent Capital LLC now owns 424 shares of the company’s stock valued at $25,000 after purchasing an additional 234 shares during the last quarter. HM Payson & Co. acquired a new position in nVent Electric during the third quarter worth $26,000. Arlington Trust Co LLC acquired a new stake in nVent Electric during the third quarter worth about $30,000. Pacific Center for Financial Services purchased a new stake in shares of nVent Electric in the 3rd quarter valued at approximately $32,000. Finally, Baystate Wealth Management LLC acquired a new stake in shares of nVent Electric during the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

Insider Transactions at nVent Electric

In other nVent Electric news, CEO Beth Wozniak sold 198,211 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the transaction, the chief executive officer now owns 342 shares of the company’s stock, valued at approximately $21,987.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other nVent Electric news, CEO Beth Wozniak sold 198,211 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the transaction, the chief executive officer now owns 342 shares of the company’s stock, valued at $21,987.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael B. Faulconer sold 10,961 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $67.33, for a total value of $738,004.13. Following the sale, the insider now owns 33,109 shares of the company’s stock, valued at $2,229,228.97. The disclosure for this sale can be found here. Insiders sold a total of 400,252 shares of company stock worth $25,713,777 over the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NVT has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price target on shares of nVent Electric from $69.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Citigroup raised their price objective on shares of nVent Electric from $71.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Barclays upped their target price on shares of nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Royal Bank of Canada lifted their price target on shares of nVent Electric from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Finally, Deutsche Bank Aktiengesellschaft began coverage on nVent Electric in a report on Monday, March 11th. They set a “buy” rating and a $83.00 price objective on the stock. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $81.60.

nVent Electric Trading Down 1.4 %

Shares of NVT stock opened at $71.09 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.22. nVent Electric plc has a 1-year low of $40.22 and a 1-year high of $78.98. The business’s fifty day moving average price is $72.09 and its 200 day moving average price is $61.58. The firm has a market capitalization of $11.80 billion, a PE ratio of 21.10, a P/E/G ratio of 1.55 and a beta of 1.35.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.75 by $0.03. nVent Electric had a net margin of 17.38% and a return on equity of 17.53%. The business had revenue of $861.20 million for the quarter, compared to analyst estimates of $866.90 million. During the same period in the prior year, the business earned $0.66 earnings per share. The company’s quarterly revenue was up 16.1% on a year-over-year basis. As a group, sell-side analysts forecast that nVent Electric plc will post 3.24 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Thursday, April 25th. nVent Electric’s dividend payout ratio is presently 22.55%.

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.