Princeton Portfolio Strategies Group LLC Purchases Shares of 21,965 nVent Electric PLC (NVT)
Princeton Portfolio Strategies Group LLC purchased a new stake in shares of nVent Electric PLC (NYSE:NVT) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 21,965 shares of the company’s stock, valued at approximately $551,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. First Bank & Trust bought a new stake in nVent Electric during the second quarter valued at $105,000. Kohmann Bosshard Financial Services LLC bought a new stake in nVent Electric during the second quarter valued at $113,000. World Asset Management Inc bought a new stake in nVent Electric during the second quarter valued at $204,000. Reliance Trust Co. of Delaware bought a new stake in nVent Electric during the second quarter valued at $209,000. Finally, Perkins Capital Management Inc. bought a new stake in nVent Electric during the second quarter valued at $238,000. 11.70% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have commented on NVT shares. KeyCorp started coverage on shares of nVent Electric in a research report on Tuesday, May 15th. They set an “overweight” rating and a $29.00 price target on the stock. Royal Bank of Canada initiated coverage on shares of nVent Electric in a research report on Thursday, May 10th. They set an “outperform” rating and a $29.00 price target on the stock. Barclays initiated coverage on shares of nVent Electric in a research report on Monday, May 14th. They set an “equal weight” rating and a $24.00 price objective on the stock. Susquehanna Bancshares initiated coverage on shares of nVent Electric in a research report on Friday, May 18th. They set a “positive” rating and a $30.00 price objective on the stock. Finally, Oppenheimer initiated coverage on shares of nVent Electric in a research report on Wednesday, May 2nd. They set a “market perform” rating on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. nVent Electric currently has a consensus rating of “Buy” and a consensus price target of $28.25.
nVent Electric (NYSE:NVT) last released its quarterly earnings data on Thursday, July 26th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.02. The company had revenue of $542.70 million for the quarter, compared to the consensus estimate of $542.50 million. nVent Electric’s revenue was up 5.7% on a year-over-year basis. equities analysts expect that nVent Electric PLC will post 1.76 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 17th. Stockholders of record on Friday, August 3rd will be given a dividend of $0.175 per share. The ex-dividend date is Thursday, August 2nd. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.57%.
In other news, Director Randall J. Hogan sold 204,462 shares of the stock in a transaction dated Friday, June 22nd. The shares were sold at an average price of $26.79, for a total transaction of $5,477,536.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Trian Fund Management, L.P. acquired 698,998 shares of the business’s stock in a transaction dated Thursday, May 31st. The shares were bought at an average cost of $26.70 per share, for a total transaction of $18,663,246.60. The disclosure for this purchase can be found here.
nVent Electric Company Profile
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products and solutions in the United States, Canada, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.
Further Reading: Short Selling Stocks, A Beginner’s Guide
Receive News & Ratings for nVent Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for nVent Electric and related companies with MarketBeat.com's FREE daily email newsletter.