134,824 Shares in nVent Electric plc (NYSE:NVT) Bought by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc acquired a new position in nVent Electric plc (NYSE:NVT) in the third quarter, HoldingsChannel.com reports. The fund acquired 134,824 shares of the company’s stock, valued at approximately $9,473,000.

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

Insiders Place Their Bets

In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total value of $1,267,053.36. Following the completion of the sale, the insider now directly owns 19,766 shares of the company’s stock, valued at $1,251,978.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Herbert K. Parker bought 7,566 shares of nVent Electric stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $65.71 per share, with a total value of $497,161.86. Following the completion of the purchase, the director now directly owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael B. Faulconer sold 20,004 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the completion of the sale, the insider now directly owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Royal Bank of Canada cut their price target on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a report on Monday. Barclays reduced their price target on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Finally, KeyCorp lifted their price objective on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nVent Electric currently has an average rating of “Buy” and an average price target of $85.33.

nVent Electric Stock Performance

NYSE:NVT opened at $69.78 on Wednesday. The company has a market cap of $11.60 billion, a P/E ratio of 20.46, a P/E/G ratio of 1.40 and a beta of 1.26. nVent Electric plc has a twelve month low of $49.08 and a twelve month high of $86.57. The company’s 50-day moving average price is $69.59 and its 200-day moving average price is $73.09. 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) last released its earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The business had revenue of $880.30 million during the quarter, compared to analysts’ expectations of $892.89 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the business earned $0.77 earnings per share. On average, sell-side analysts forecast that nVent Electric plc will post 3.26 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a yield of 1.09%. nVent Electric’s payout ratio is 22.29%.

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.