Mach 1 Financial Group LLC Buys Shares of 3,702 nVent Electric plc (NYSE:NVT)

Mach 1 Financial Group LLC purchased a new position in shares of nVent Electric plc (NYSE:NVT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,702 shares of the company’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NVT. Quent Capital LLC increased its position in shares of nVent Electric by 123.2% during the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after buying an additional 234 shares during the period. HM Payson & Co. acquired a new stake in nVent Electric during the 3rd quarter worth about $26,000. Arlington Trust Co LLC bought a new position in shares of nVent Electric in the 3rd quarter worth about $30,000. Pacific Center for Financial Services acquired a new position in shares of nVent Electric in the 3rd quarter valued at about $32,000. Finally, Baystate Wealth Management LLC acquired a new position in shares of nVent Electric in the 3rd quarter valued at about $33,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Stock Down 1.4 %

NVT stock opened at $71.09 on Thursday. nVent Electric plc has a fifty-two week low of $40.22 and a fifty-two week high of $78.98. The stock has a fifty day moving average of $72.09 and a 200-day moving average of $61.58. The company has a market capitalization of $11.80 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 1.55 and a beta of 1.35. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.82.

nVent Electric (NYSE:NVT) last issued its earnings results on Tuesday, February 6th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. The business had revenue of $861.20 million for the quarter, compared to analysts’ expectations of $866.90 million. nVent Electric had a net margin of 17.38% and a return on equity of 17.53%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 EPS. As a group, equities research analysts predict that nVent Electric plc will post 3.24 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, April 25th. nVent Electric’s dividend payout ratio is 22.55%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft initiated coverage on nVent Electric in a research note on Monday, March 11th. They set a “buy” rating and a $83.00 target price for the company. Royal Bank of Canada lifted their price objective on shares of nVent Electric from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. The Goldman Sachs Group upped their price objective on shares of nVent Electric from $69.00 to $77.00 and gave the company a “buy” rating in a report on Friday, March 15th. Barclays raised their price target on shares of nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Citigroup boosted their price objective on nVent Electric from $71.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, April 8th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, nVent Electric has a consensus rating of “Moderate Buy” and a consensus target price of $81.60.

Insider Activity

In other nVent Electric news, insider Michael B. Faulconer sold 10,961 shares of nVent Electric stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $67.33, for a total transaction of $738,004.13. Following the completion of the transaction, the insider now owns 33,109 shares in the company, valued at $2,229,228.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Michael B. Faulconer sold 10,961 shares of nVent Electric stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $67.33, for a total value of $738,004.13. Following the completion of the sale, the insider now owns 33,109 shares of the company’s stock, valued at $2,229,228.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Beth Wozniak sold 198,211 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the sale, the chief executive officer now directly owns 342 shares of the company’s stock, valued at approximately $21,987.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 400,252 shares of company stock worth $25,713,777. Insiders own 2.50% of the company’s stock.

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.