nVent Electric PLC (NYSE:NVT) Shares Acquired by Running Oak Capital LLC

Running Oak Capital LLC increased its position in nVent Electric PLC (NYSE:NVT) by 32.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 270,203 shares of the company’s stock after buying an additional 66,395 shares during the quarter. Running Oak Capital LLC’s holdings in nVent Electric were worth $14,164,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Capital A Wealth Management LLC acquired a new stake in shares of nVent Electric in the fourth quarter valued at $27,000. Park Square Financial Group LLC acquired a new stake in shares of nVent Electric in the fourth quarter valued at $38,000. Whipplewood Advisors LLC lifted its holdings in shares of nVent Electric by 467.3% in the first quarter. Whipplewood Advisors LLC now owns 607 shares of the company’s stock valued at $32,000 after buying an additional 500 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of nVent Electric in the fourth quarter valued at $65,000. Finally, Huntington National Bank lifted its holdings in shares of nVent Electric by 60.9% in the fourth quarter. Huntington National Bank now owns 985 shares of the company’s stock valued at $67,000 after buying an additional 373 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Stock Down 0.3%

Shares of nVent Electric stock opened at $70.26 on Friday. The stock has a 50-day moving average price of $62.32 and a 200 day moving average price of $63.19. The company has a market cap of $11.57 billion, a P/E ratio of 20.07, a P/E/G ratio of 1.41 and a beta of 1.30. The company has a current ratio of 2.87, a quick ratio of 2.42 and a debt-to-equity ratio of 0.48. nVent Electric PLC has a 1 year low of $41.71 and a 1 year high of $81.55.

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

nVent Electric Announces Dividend

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 given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Friday, July 18th. nVent Electric’s payout ratio is currently 22.86%.

Insiders Place Their Bets

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the company’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $61.35, for a total value of $247,915.35. Following the transaction, the executive vice president now directly owns 32,665 shares of the company’s stock, valued at $2,003,997.75. This represents a 11.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NVT. Citigroup cut their price objective on nVent Electric from $85.00 to $59.00 and set a “buy” rating for the company in a report on Monday, April 14th. The Goldman Sachs Group reduced their target price on nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Barclays upped their target price on nVent Electric from $70.00 to $74.00 and gave the company an “overweight” rating in a report on Monday, June 9th. KeyCorp upped their target price on nVent Electric from $60.00 to $72.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Finally, Royal Bank Of Canada upped their target price on nVent Electric from $73.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, May 5th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, nVent Electric presently has an average rating of “Buy” and a consensus target price of $70.67.

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.