18,219 Shares in nVent Electric plc (NYSE:NVT) Bought by Hedeker Wealth LLC

Hedeker Wealth LLC purchased a new stake in shares of nVent Electric plc (NYSE:NVT) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 18,219 shares of the company’s stock, valued at approximately $1,280,000.

Other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. raised its stake in shares of nVent Electric by 280.0% during the third quarter. UMB Bank n.a. now owns 418 shares of the company’s stock valued at $29,000 after acquiring an additional 308 shares during the last quarter. ORG Wealth Partners LLC bought a new position in nVent Electric during the 3rd quarter valued at approximately $29,000. ORG Partners LLC purchased a new stake in nVent Electric in the 2nd quarter worth approximately $31,000. First Foundation Advisors bought a new stake in shares of nVent Electric in the 2nd quarter worth approximately $34,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of nVent Electric in the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Down 1.3 %

NVT traded down $1.01 during trading on Tuesday, reaching $73.82. The stock had a trading volume of 179,805 shares, compared to its average volume of 1,518,627. The company has a current ratio of 2.17, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $12.26 billion, a price-to-earnings ratio of 21.82, a P/E/G ratio of 1.50 and a beta of 1.27. The stock’s 50 day moving average is $68.91 and its two-hundred day moving average is $73.13. nVent Electric plc has a one year low of $46.63 and a one year high of $86.57.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.01). nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The business had revenue of $880.30 million during the quarter, compared to the consensus estimate of $892.89 million. During the same quarter in the previous year, the business earned $0.77 earnings per share. The firm’s revenue was up 9.6% compared to the same quarter last year. As a group, analysts expect that nVent Electric plc will post 3.26 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, October 18th. nVent Electric’s dividend payout ratio is presently 22.16%.

Insider Buying and Selling

In other news, EVP Lynnette R. Heath sold 8,242 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total value of $496,662.92. Following the transaction, the executive vice president now owns 30,432 shares in the company, valued at approximately $1,833,832.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other nVent Electric news, EVP Lynnette R. Heath sold 8,242 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total value of $496,662.92. Following the completion of the transaction, the executive vice president now owns 30,432 shares of the company’s stock, valued at approximately $1,833,832.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Herbert K. Parker bought 7,566 shares of the stock in a transaction on Thursday, August 15th. The shares were bought at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the purchase, the director now directly owns 34,524 shares in the company, valued at approximately $2,268,572.04. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 2.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on NVT shares. KeyCorp raised their price target on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Royal Bank of Canada decreased their price objective on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, Barclays cut their target price on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $85.67.

About nVent Electric

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.