Oliver Luxxe Assets LLC Increases Stake in nVent Electric plc (NYSE:NVT)

Oliver Luxxe Assets LLC lifted its stake in shares of nVent Electric plc (NYSE:NVT) by 0.8% during the 1st quarter, HoldingsChannel reports. The fund owned 56,781 shares of the company’s stock after acquiring an additional 426 shares during the period. Oliver Luxxe Assets LLC’s holdings in nVent Electric were worth $4,281,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of NVT. Quent Capital LLC lifted its holdings in shares of nVent Electric by 123.2% during the 4th quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after acquiring an additional 234 shares during the period. Banque Cantonale Vaudoise purchased a new position in shares of nVent Electric during the 1st quarter worth about $26,000. Livelsberger Financial Advisory purchased a new position in shares of nVent Electric during the 4th quarter worth about $28,000. Pacific Center for Financial Services acquired a new stake in nVent Electric during the 3rd quarter worth approximately $32,000. Finally, Rise Advisors LLC acquired a new stake in nVent Electric during the 1st quarter worth approximately $32,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Stock Performance

NVT traded down $1.18 during trading hours on Monday, hitting $75.43. 533,293 shares of the stock were exchanged, compared to its average volume of 1,399,798. The stock has a 50-day simple moving average of $78.70 and a 200-day simple moving average of $69.95. nVent Electric plc has a 12 month low of $45.60 and a 12 month high of $86.57. The stock has a market cap of $12.52 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.99 and a quick ratio of 1.35.

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 firm had revenue of $874.60 million for the quarter, compared to analysts’ expectations of $864.14 million. During the same period last year, the business posted $0.67 earnings per share. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. Analysts anticipate that nVent Electric plc will post 3.27 earnings per share for the current 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 paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, July 19th. nVent Electric’s dividend payout ratio (DPR) is presently 22.16%.

Analyst Ratings Changes

A number of analysts recently issued reports on NVT shares. The Goldman Sachs Group increased their target price on shares of nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Citigroup increased their price objective on shares of nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Barclays increased their price objective on shares of nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. Deutsche Bank Aktiengesellschaft started coverage on shares of nVent Electric in a research report on Monday, March 11th. They issued a “buy” rating and a $83.00 price objective for the company. Finally, Royal Bank of Canada lowered their price objective on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, nVent Electric currently has an average rating of “Moderate Buy” and an average target price of $89.00.

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.