Janney Montgomery Scott LLC Purchases 1,591 Shares of nVent Electric PLC (NYSE:NVT)

Janney Montgomery Scott LLC boosted its position in nVent Electric PLC (NYSE:NVT) by 6.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,252 shares of the company’s stock after acquiring an additional 1,591 shares during the period. Janney Montgomery Scott LLC’s holdings in nVent Electric were worth $1,429,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in NVT. Private Advisor Group LLC boosted its holdings in nVent Electric by 15.3% in the fourth quarter. Private Advisor Group LLC now owns 8,383 shares of the company’s stock valued at $571,000 after acquiring an additional 1,111 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in nVent Electric by 22.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,718,368 shares of the company’s stock valued at $117,124,000 after acquiring an additional 312,982 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in nVent Electric by 7.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 22,848 shares of the company’s stock valued at $1,557,000 after acquiring an additional 1,607 shares during the last quarter. Proficio Capital Partners LLC bought a new position in nVent Electric in the fourth quarter valued at about $3,986,000. Finally, QRG Capital Management Inc. lifted its stake in nVent Electric by 46.6% in the fourth quarter. QRG Capital Management Inc. now owns 5,620 shares of the company’s stock valued at $383,000 after buying an additional 1,786 shares during the period. Institutional investors own 90.05% of the company’s stock.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total value of $247,915.35. Following the sale, the executive vice president now owns 32,665 shares in the company, valued at approximately $2,003,997.75. The trade was a 11.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NVT shares. KeyCorp increased their target price on nVent Electric from $60.00 to $72.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. The Goldman Sachs Group cut their target price on nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Royal Bank Of Canada increased their target price on nVent Electric from $73.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, May 5th. Finally, CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Monday, March 17th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $70.67.

nVent Electric Trading Up 0.4%

NYSE:NVT opened at $73.45 on Friday. nVent Electric PLC has a fifty-two week low of $41.71 and a fifty-two week high of $81.55. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.87 and a quick ratio of 2.42. The stock has a market capitalization of $12.09 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 1.46 and a beta of 1.30. The business’s 50-day simple moving average is $64.56 and its 200-day simple moving average is $63.15.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. nVent Electric had a return on equity of 13.54% and a net margin of 18.22%. The business had revenue of $809.30 million for the quarter, compared to analysts’ expectations of $790.74 million. During the same quarter in the previous year, the business posted $0.78 EPS. nVent Electric’s revenue for the quarter was up 10.5% on a year-over-year basis. Sell-side analysts expect that nVent Electric PLC will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.09%. The ex-dividend date is Friday, July 18th. nVent Electric’s payout ratio is 22.86%.

nVent Electric Company Profile

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.