14,922 Shares in nVent Electric plc (NYSE:NVT) Acquired by Virtu Financial LLC

Virtu Financial LLC purchased a new position in nVent Electric plc (NYSE:NVT) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,922 shares of the company’s stock, valued at approximately $1,125,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new stake in nVent Electric during the 1st quarter valued at $26,000. Livelsberger Financial Advisory purchased a new stake in nVent Electric during the 4th quarter valued at $28,000. Rise Advisors LLC purchased a new stake in nVent Electric during the 1st quarter valued at $32,000. Smithfield Trust Co lifted its holdings in shares of nVent Electric by 650.0% during the 4th quarter. Smithfield Trust Co now owns 630 shares of the company’s stock valued at $36,000 after buying an additional 546 shares during the period. Finally, LRI Investments LLC bought a new position in shares of nVent Electric during the 1st quarter valued at $51,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Barclays increased their price target on nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th. 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 report on Monday, May 6th. Citigroup raised their target price on nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Finally, The Goldman Sachs Group raised their target price on nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Monday, May 6th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.00.

nVent Electric Trading Down 7.3 %

Shares of nVent Electric stock opened at $64.40 on Friday. The firm has a market cap of $10.69 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 1.52 and a beta of 1.31. The business has a 50-day moving average price of $76.97 and a 200-day moving average price of $72.69. The company has a quick ratio of 1.35, a current ratio of 1.99 and a debt-to-equity ratio of 0.54. nVent Electric plc has a twelve month low of $45.60 and a twelve month high of $86.57.

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

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Friday, July 19th were given a $0.19 dividend. The ex-dividend date of this dividend was Friday, July 19th. This represents a $0.76 annualized dividend and a yield of 1.18%. nVent Electric’s dividend payout ratio is currently 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.