Waddell & Associates LLC Takes Position in nVent Electric plc (NYSE:NVT)

by · The Markets Daily

Waddell & Associates LLC purchased a new stake in nVent Electric plc (NYSE:NVT – Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,867 shares of the company’s stock, valued at approximately $272,000.

Other hedge funds have also bought and sold shares of the company. UMB Bank n.a. grew its position in shares of nVent Electric by 280.0% during the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after purchasing an additional 308 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in shares of nVent Electric in the third quarter valued at approximately $29,000. ORG Partners LLC acquired a new stake in nVent Electric during the second quarter worth approximately $31,000. First Foundation Advisors bought a new position in nVent Electric during the 2nd quarter worth $34,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in nVent Electric in the 2nd quarter valued at $34,000. 90.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NVT shares. Barclays reduced their target price on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. KeyCorp upped their price target on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Royal Bank of Canada reduced their price target on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $85.33.

View Our Latest Stock Analysis on NVT

nVent Electric Trading Up 0.5 %

Shares of nVent Electric stock opened at $78.34 on Friday. The firm’s 50 day moving average is $72.62 and its 200 day moving average is $73.31. The firm has a market capitalization of $12.91 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 4.01 and a beta of 1.26. nVent Electric plc has a 1 year low of $52.26 and a 1 year high of $86.57. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68.

nVent Electric (NYSE:NVT – Get Free Report) last issued its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The company 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.84 EPS. Equities research analysts forecast that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a $0.19 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a yield of 0.97%. nVent Electric’s payout ratio is presently 22.29%.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, CFO Sara E. Zawoyski sold 14,505 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the sale, the chief financial officer now directly owns 62,215 shares of the company’s stock, valued at $4,775,623.40. The trade was a 18.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Randolph A. Wacker sold 8,022 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total transaction of $608,629.14. Following the transaction, the chief accounting officer now directly owns 25,993 shares of the company’s stock, valued at $1,972,088.91. The trade was a 23.58 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,824 shares of company stock worth $6,841,316. 2.50% of the stock is currently owned by insiders.

About nVent Electric

(Free Report)

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.

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