SeaBridge Investment Advisors LLC Trims Stock Holdings in nVent Electric plc (NYSE:NVT)

SeaBridge Investment Advisors LLC lowered its holdings in nVent Electric plc (NYSE:NVT) by 3.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 74,114 shares of the company’s stock after selling 3,043 shares during the period. nVent Electric comprises 1.5% of SeaBridge Investment Advisors LLC’s portfolio, making the stock its 14th largest position. SeaBridge Investment Advisors LLC’s holdings in nVent Electric were worth $5,588,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quent Capital LLC raised its stake in nVent Electric by 123.2% during the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock valued at $25,000 after buying an additional 234 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in nVent Electric during the 1st quarter valued at $26,000. Livelsberger Financial Advisory bought a new position in nVent Electric during the 4th quarter valued at $28,000. Pacific Center for Financial Services bought a new position in nVent Electric during the 3rd quarter valued at $32,000. Finally, Rise Advisors LLC bought a new position in nVent Electric during the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Down 1.8 %

Shares of NVT traded down $1.43 during mid-day trading on Friday, reaching $75.89. The company’s stock had a trading volume of 1,249,861 shares, compared to its average volume of 1,393,341. The company has a quick ratio of 1.35, a current ratio of 1.99 and a debt-to-equity ratio of 0.54. nVent Electric plc has a 1 year low of $45.60 and a 1 year high of $86.57. The business has a fifty day moving average of $78.97 and a 200 day moving average of $70.28. The company has a market cap of $12.60 billion, a price-to-earnings ratio of 22.02, a price-to-earnings-growth ratio of 1.69 and a beta of 1.31.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Friday, May 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.04. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The business had revenue of $874.60 million during the quarter, compared to analyst estimates of $864.14 million. During the same period last year, the company earned $0.67 earnings per share. nVent Electric’s quarterly revenue was up 18.0% compared to the same quarter last year. As a group, analysts forecast that nVent Electric plc will post 3.27 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.76 annualized dividend and a dividend yield of 1.00%. nVent Electric’s dividend payout ratio is 22.16%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Barclays raised their price objective on nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4th. Royal Bank of Canada reduced their price objective on nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. Citigroup raised their price objective on nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. The Goldman Sachs Group increased their target price on nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on nVent Electric in a report on Monday, March 11th. They issued a “buy” rating and a $83.00 target price for the company. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.00.

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.