Everest Financial Group LLC Acquires 14,828 Shares of nVent Electric PLC $NVT

Everest Financial Group LLC acquired a new position in shares of nVent Electric PLC (NYSE:NVT) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,828 shares of the company’s stock, valued at approximately $2,378,000.

Other hedge funds have also bought and sold shares of the company. State Street Corp boosted its position in nVent Electric by 4.9% during the second quarter. State Street Corp now owns 5,313,122 shares of the company’s stock valued at $901,159,000 after acquiring an additional 250,248 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of nVent Electric by 3.5% in the 1st quarter. Bank of New York Mellon Corp now owns 2,018,579 shares of the company’s stock worth $238,758,000 after acquiring an additional 68,818 shares in the last quarter. First Trust Advisors LP raised its position in shares of nVent Electric by 32.8% in the 1st quarter. First Trust Advisors LP now owns 1,696,369 shares of the company’s stock worth $200,647,000 after acquiring an additional 419,239 shares in the last quarter. Amundi raised its position in shares of nVent Electric by 146.8% in the 1st quarter. Amundi now owns 1,092,802 shares of the company’s stock worth $129,257,000 after acquiring an additional 649,992 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of nVent Electric by 31.6% in the 1st quarter. Royal Bank of Canada now owns 719,484 shares of the company’s stock valued at $85,101,000 after purchasing an additional 172,742 shares during the period. Institutional investors own 90.05% of the company’s stock.

Insider Buying and Selling

In other news, Director Herbert Parker acquired 3,000 shares of the firm’s stock in a transaction dated Monday, November 9th. The stock was purchased at an average price of $113.14 per share, for a total transaction of $339,420.00. Following the completion of the acquisition, the director directly owned 19,853 shares in the company, valued at $2,246,168.42. The trade was a 17.80% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.70% of the company’s stock.

nVent Electric Stock Performance

Shares of NVT opened at $115.74 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.40 and a quick ratio of 1.93. The stock has a 50-day moving average of $146.19 and a 200-day moving average of $144.56. The company has a market cap of $18.70 billion, a PE ratio of 27.89, a P/E/G ratio of 0.59 and a beta of 1.39. nVent Electric PLC has a one year low of $93.22 and a one year high of $184.64.

nVent Electric (NYSE:NVT) last issued its earnings results on Friday, October 30th. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.12. nVent Electric had a return on equity of 20.82% and a net margin of 12.84%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the company posted $0.91 EPS. The firm’s revenue was up 43.7% compared to the same quarter last year. On average, equities research analysts predict that nVent Electric PLC will post 5.36 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 6th. Shareholders of record on Friday, October 23rd were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, October 23rd. nVent Electric’s dividend payout ratio (DPR) is 20.24%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Evercore restated an “outperform” rating and set a $210.00 target price on shares of nVent Electric in a research report on Monday, August 3rd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $200.00 target price on shares of nVent Electric in a research note on Saturday, August 1st. Roth Capital reiterated a “buy” rating and issued a $200.00 target price on shares of nVent Electric in a report on Wednesday, October 28th. UBS Group reissued a “buy” rating on shares of nVent Electric in a research note on Tuesday, August 25th. Finally, Robert W. Baird boosted their price target on nVent Electric from $188.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $197.12.

nVent Electric Company Profile

nVent Electric plc designs and manufactures products and solutions that protect and connect electrical systems. Its offerings include electrical enclosures, cable management and fastening products, grounding and bonding solutions, and systems for managing heat in electrical and industrial applications. The company serves customers across industries such as data centers, energy, infrastructure, commercial construction and manufacturing. Its products are marketed under brands including Hoffman, ERICO, CADDY, Raychem and Schroff, and it serves customers in markets around the world. nVent became an independent, publicly traded company in 2018 after its separation from Pentair.