Marks Group Wealth Management Inc Sells 7,048 Shares of nVent Electric plc (NYSE:NVT)

Marks Group Wealth Management Inc reduced its position in nVent Electric plc (NYSE:NVT) by 5.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 127,776 shares of the company’s stock after selling 7,048 shares during the period. Marks Group Wealth Management Inc’s holdings in nVent Electric were worth $8,709,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NVT. Larson Financial Group LLC lifted its holdings in shares of nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the period. Crews Bank & Trust purchased a new stake in shares of nVent Electric during the 4th quarter worth about $26,000. ORG Wealth Partners LLC acquired a new stake in nVent Electric in the third quarter valued at approximately $29,000. UMB Bank n.a. raised its stake in shares of nVent Electric by 280.0% during the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after buying an additional 308 shares during the period. Finally, Huntington National Bank increased its holdings in nVent Electric by 57.3% in the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after acquiring an additional 223 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors.

Insider Activity at nVent Electric

In related news, Director Jerry W. Burris sold 6,558 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the sale, the director now directly owns 45,040 shares of the company’s stock, valued at approximately $3,603,200. This trade represents a 12.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

nVent Electric Stock Down 1.9 %

NVT stock opened at $67.12 on Wednesday. The company has a market cap of $11.06 billion, a price-to-earnings ratio of 34.25, a PEG ratio of 3.01 and a beta of 1.26. The firm has a 50-day moving average of $70.50 and a two-hundred day moving average of $70.22. nVent Electric plc has a 12 month low of $56.44 and a 12 month high of $86.57. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 0.65.

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

nVent Electric Increases Dividend

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

nVent Electric Company 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.