nVent Electric plc (NYSE:NVT) Shares Acquired by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC increased its position in nVent Electric plc (NYSE:NVT) by 18.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,539 shares of the company’s stock after buying an additional 1,167 shares during the period. Silvercrest Asset Management Group LLC’s holdings in nVent Electric were worth $568,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. grew its holdings in nVent Electric by 6.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 7,800 shares of the company’s stock valued at $461,000 after purchasing an additional 454 shares during the period. Pinnacle Associates Ltd. grew its holdings in nVent Electric by 5.8% in the fourth quarter. Pinnacle Associates Ltd. now owns 4,281 shares of the company’s stock valued at $253,000 after purchasing an additional 236 shares during the period. State of Michigan Retirement System grew its holdings in nVent Electric by 0.5% in the fourth quarter. State of Michigan Retirement System now owns 39,806 shares of the company’s stock valued at $2,352,000 after purchasing an additional 200 shares during the period. International Assets Investment Management LLC purchased a new stake in nVent Electric in the fourth quarter valued at approximately $821,000. Finally, Allworth Financial LP grew its holdings in nVent Electric by 162.3% in the fourth quarter. Allworth Financial LP now owns 1,204 shares of the company’s stock valued at $71,000 after purchasing an additional 745 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Price Performance

NVT opened at $72.63 on Thursday. The company has a fifty day simple moving average of $77.65 and a 200 day simple moving average of $72.66. The firm has a market cap of $12.06 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 1.52 and a beta of 1.31. nVent Electric plc has a twelve month low of $45.60 and a twelve month high of $86.57. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. The business had revenue of $874.60 million during the quarter, compared to analyst estimates of $864.14 million. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The business’s revenue was up 18.0% on a year-over-year basis. During the same period last year, the business earned $0.67 EPS. Equities research analysts expect that nVent Electric plc will post 3.27 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, July 19th. This represents a $0.76 dividend on an annualized basis and a yield of 1.05%. nVent Electric’s dividend payout ratio (DPR) is 22.16%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NVT shares. Citigroup boosted their target price on shares of nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a report on Monday, May 6th. Barclays increased their price objective on shares of nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. Royal Bank of Canada dropped their price objective on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. Finally, The Goldman Sachs Group increased their price objective on shares of nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.00.

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.