nVent Electric plc (NYSE:NVT) Stake Raised by Diversify Wealth Management LLC

Diversify Wealth Management LLC increased its holdings in nVent Electric plc (NYSE:NVT) by 39.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,220 shares of the company’s stock after acquiring an additional 2,596 shares during the period. Diversify Wealth Management LLC’s holdings in nVent Electric were worth $635,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NVT. Franklin Resources Inc. increased its position in nVent Electric by 22.1% in the 3rd quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock worth $527,374,000 after purchasing an additional 1,269,335 shares during the last quarter. State Street Corp increased its position in nVent Electric by 0.9% in the 3rd quarter. State Street Corp now owns 5,031,623 shares of the company’s stock worth $353,522,000 after purchasing an additional 42,465 shares during the last quarter. Geode Capital Management LLC increased its position in nVent Electric by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after purchasing an additional 29,794 shares during the last quarter. Janus Henderson Group PLC increased its position in nVent Electric by 23.6% in the 3rd quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock worth $171,492,000 after purchasing an additional 466,042 shares during the last quarter. Finally, Clean Energy Transition LLP increased its position in nVent Electric by 56.5% in the 3rd quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock worth $158,411,000 after purchasing an additional 813,909 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

nVent Electric Stock Performance

NVT opened at $74.90 on Wednesday. The firm has a market capitalization of $12.34 billion, a P/E ratio of 21.96, a price-to-earnings-growth ratio of 3.35 and a beta of 1.27. The stock’s 50 day moving average price is $73.10 and its two-hundred day moving average price is $71.14. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. nVent Electric plc has a 12-month low of $56.44 and a 12-month high of $86.57.

nVent Electric (NYSE:NVT) last released its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The business had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business earned $0.84 EPS. On average, equities analysts forecast that nVent Electric plc will post 2.49 earnings per share for the current year.

nVent Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued a $0.20 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.80 dividend on an annualized basis and a yield of 1.07%. This is a positive change from nVent Electric’s previous quarterly dividend of $0.19. nVent Electric’s dividend payout ratio (DPR) is 23.46%.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, Director Jerry W. Burris sold 6,558 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the sale, the director now owns 45,040 shares of the company’s stock, valued at $3,603,200. This trade represents a 12.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Sara E. Zawoyski sold 14,505 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total value of $1,113,403.80. Following the completion of the sale, the chief financial officer now owns 62,215 shares of the company’s stock, valued at $4,775,623.40. This represents a 18.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,382 shares of company stock valued at $7,365,956 in the last 90 days. 2.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NVT has been the topic of several research reports. KeyCorp upped their target price on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Barclays upped their target price on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Citigroup lowered their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Royal Bank of Canada increased their price objective on nVent Electric from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $86.17.

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.