Kingsview Wealth Management LLC Purchases Shares of 5,334 nVent Electric plc (NYSE:NVT)

Kingsview Wealth Management LLC acquired a new position in shares of nVent Electric plc (NYSE:NVT) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 5,334 shares of the company’s stock, valued at approximately $364,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVT. Crews Bank & Trust acquired a new stake in nVent Electric during the 4th quarter valued at approximately $26,000. Larson Financial Group LLC boosted its stake in shares of nVent Electric by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. Huntington National Bank increased its position in shares of nVent Electric by 57.3% during the third quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after buying an additional 223 shares during the period. Brooklyn Investment Group bought a new position in nVent Electric during the third quarter worth $44,000. Finally, Tsfg LLC acquired a new position in nVent Electric in the fourth quarter valued at $51,000. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Stock Performance

Shares of NVT opened at $67.45 on Friday. nVent Electric plc has a one year low of $56.44 and a one year high of $86.57. The company has a market cap of $11.12 billion, a PE ratio of 34.41, a P/E/G ratio of 3.01 and a beta of 1.26. The stock has a 50-day moving average of $70.04 and a 200-day moving average of $70.18. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.36.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.59 EPS for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. On average, equities research analysts predict that nVent Electric plc will post 3.03 EPS for the current fiscal year.

nVent Electric Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 17th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Friday, January 17th. This is a positive change from nVent Electric’s previous quarterly dividend of $0.19. nVent Electric’s payout ratio is 40.82%.

Analyst Ratings Changes

A number of brokerages have weighed in on NVT. Citigroup decreased their price target on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Barclays upped their target price on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, Royal Bank of Canada lifted their target price on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $86.33.

Insiders Place Their Bets

In related news, Director Jerry W. Burris sold 6,558 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the sale, the director now owns 45,040 shares in the company, valued at $3,603,200. This represents a 12.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.50% of the company’s stock.

nVent Electric 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.