nVent Electric plc (NYSE:NVT) Shares Bought by Carnegie Investment Counsel

Carnegie Investment Counsel raised its holdings in shares of nVent Electric plc (NYSE:NVT) by 13.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,835 shares of the company’s stock after buying an additional 11,764 shares during the quarter. Carnegie Investment Counsel owned about 0.06% of nVent Electric worth $6,941,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of NVT. Oak Thistle LLC acquired a new stake in shares of nVent Electric in the fourth quarter valued at approximately $1,009,000. Tsfg LLC acquired a new stake in shares of nVent Electric in the 4th quarter worth $51,000. Miracle Mile Advisors LLC purchased a new position in shares of nVent Electric during the 4th quarter worth $760,000. TT International Asset Management LTD boosted its position in shares of nVent Electric by 20.4% during the 4th quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock valued at $7,388,000 after acquiring an additional 18,376 shares during the last quarter. Finally, LVM Capital Management Ltd. MI grew its holdings in shares of nVent Electric by 8.1% in the fourth quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock valued at $10,307,000 after purchasing an additional 11,349 shares during the period. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at nVent Electric

In other news, CFO Sara E. Zawoyski sold 14,505 shares of nVent Electric stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the completion of the sale, the chief financial officer now directly owns 62,215 shares of the company’s stock, valued at approximately $4,775,623.40. The trade was a 18.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jerry W. Burris sold 6,558 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the transaction, the director now directly owns 45,040 shares in the company, valued at $3,603,200. This trade represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 96,382 shares of company stock worth $7,365,956. Company insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

NVT has been the topic of several recent analyst reports. Royal Bank of Canada boosted their target price on shares of nVent Electric from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Citigroup lowered their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. KeyCorp raised their price objective on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, Barclays upped their target price on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $86.17.

nVent Electric Stock Performance

Shares of nVent Electric stock opened at $72.36 on Friday. The stock has a market capitalization of $11.93 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 2.95 and a beta of 1.27. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. The business has a 50-day moving average of $73.20 and a 200 day moving average of $71.25. nVent Electric plc has a 12 month low of $55.62 and a 12 month high of $86.57.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The business had revenue of $782.00 million during the quarter, compared to analysts’ expectations of $937.37 million. During the same period in the previous year, the business posted $0.84 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, sell-side analysts forecast that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be paid a $0.20 dividend. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Friday, January 17th. nVent Electric’s dividend payout ratio (DPR) is presently 22.29%.

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.