Janney Montgomery Scott LLC lessened its stake in nVent Electric PLC (NYSE:NVT) by 8.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 112,721 shares of the company’s stock after selling 10,950 shares during the period. Janney Montgomery Scott LLC owned approximately 0.07% of nVent Electric worth $2,111,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of NVT. Truvestments Capital LLC bought a new stake in nVent Electric in the 1st quarter worth approximately $35,000. FinTrust Capital Advisors LLC grew its position in nVent Electric by 36,536.4% in the 1st quarter. FinTrust Capital Advisors LLC now owns 4,030 shares of the company’s stock worth $68,000 after purchasing an additional 4,019 shares during the period. Ellevest Inc. grew its position in nVent Electric by 936.5% in the 2nd quarter. Ellevest Inc. now owns 3,773 shares of the company’s stock worth $71,000 after purchasing an additional 3,409 shares during the period. Capital Asset Advisory Services LLC grew its position in nVent Electric by 15.4% in the 1st quarter. Capital Asset Advisory Services LLC now owns 10,143 shares of the company’s stock worth $167,000 after purchasing an additional 1,350 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in nVent Electric in the 1st quarter worth approximately $186,000. 86.96% of the stock is owned by institutional investors and hedge funds.
NVT has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of nVent Electric from a “hold” rating to a “sell” rating in a research report on Thursday. Royal Bank of Canada reissued a “buy” rating and set a $22.00 price objective on shares of nVent Electric in a research report on Monday, July 20th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $29.00 price objective (up previously from $26.00) on shares of nVent Electric in a research report on Thursday, June 4th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $27.00.
In other news, Director Michael L. Ducker bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was bought at an average price of $17.50 per share, with a total value of $35,000.00. Following the acquisition, the director now owns 12,254 shares of the company’s stock, valued at approximately $214,445. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.79% of the company’s stock.
Shares of nVent Electric stock opened at $18.16 on Friday. The company has a market capitalization of $3.08 billion, a P/E ratio of 16.81, a P/E/G ratio of 2.96 and a beta of 1.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.56 and a current ratio of 2.16. The company has a fifty day moving average of $18.77 and a 200 day moving average of $20.31. nVent Electric PLC has a fifty-two week low of $10.53 and a fifty-two week high of $28.75.
nVent Electric (NYSE:NVT) last issued its earnings results on Friday, July 31st. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.05. The company had revenue of $447.00 million during the quarter, compared to the consensus estimate of $437.07 million. nVent Electric had a net margin of 8.45% and a return on equity of 11.56%. nVent Electric’s quarterly revenue was down 17.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 EPS. Analysts forecast that nVent Electric PLC will post 1.3 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend is Thursday, July 23rd. nVent Electric’s dividend payout ratio is currently 39.33%.
About nVent Electric
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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