Private Advisor Group LLC Invests $242,000 in nVent Electric PLC (NVT)
Private Advisor Group LLC purchased a new stake in shares of nVent Electric PLC (NYSE:NVT) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,795 shares of the company’s stock, valued at approximately $242,000.
Other institutional investors also recently bought and sold shares of the company. First Hawaiian Bank raised its stake in shares of nVent Electric by 64.0% during the fourth quarter. First Hawaiian Bank now owns 1,604 shares of the company’s stock valued at $36,000 after acquiring an additional 626 shares in the last quarter. Stratos Wealth Partners LTD. bought a new stake in shares of nVent Electric during the third quarter valued at approximately $102,000. Oppenheimer Asset Management Inc. bought a new stake in shares of nVent Electric during the fourth quarter valued at approximately $156,000. First Mercantile Trust Co. raised its stake in shares of nVent Electric by 152.6% during the third quarter. First Mercantile Trust Co. now owns 7,200 shares of the company’s stock valued at $196,000 after acquiring an additional 4,350 shares in the last quarter. Finally, AXA bought a new stake in shares of nVent Electric during the third quarter valued at approximately $203,000. 85.04% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on NVT. Zacks Investment Research downgraded shares of nVent Electric from a “hold” rating to a “sell” rating in a research note on Wednesday, December 12th. KeyCorp reissued a “buy” rating and issued a $30.00 price objective (up previously from $29.00) on shares of nVent Electric in a research note on Wednesday, February 27th. Finally, Vertical Research began coverage on shares of nVent Electric in a research note on Tuesday, November 20th. They issued a “hold” rating and a $28.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $28.67.
nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Thursday, January 31st. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.01). The business had revenue of $568.10 million during the quarter, compared to the consensus estimate of $547.30 million. nVent Electric had a return on equity of 10.08% and a net margin of 10.43%. On average, sell-side analysts predict that nVent Electric PLC will post 1.87 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Thursday, April 18th will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend is Wednesday, April 17th. nVent Electric’s dividend payout ratio (DPR) is 40.23%.
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nVent Electric Company Profile
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.
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