Proficio Capital Partners LLC Invests $3.99 Million in nVent Electric plc (NYSE:NVT)

Proficio Capital Partners LLC bought a new position in shares of nVent Electric plc (NYSE:NVT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 58,481 shares of the company’s stock, valued at approximately $3,986,000.

Other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC raised its position in shares of nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares during the period. Crews Bank & Trust acquired a new stake in shares of nVent Electric during the 4th quarter valued at about $26,000. Huntington National Bank increased its stake in shares of nVent Electric by 57.3% in the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after purchasing an additional 223 shares in the last quarter. Brooklyn Investment Group acquired a new position in nVent Electric in the 3rd quarter worth about $44,000. Finally, Tsfg LLC purchased a new position in nVent Electric during the fourth quarter worth approximately $51,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Trading Down 2.2 %

Shares of NVT stock opened at $55.12 on Wednesday. The stock has a 50 day simple moving average of $67.19 and a 200-day simple moving average of $69.99. nVent Electric plc has a 1-year low of $53.30 and a 1-year high of $86.57. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The company has a market cap of $9.10 billion, a price-to-earnings ratio of 28.12, a PEG ratio of 1.48 and a beta of 1.31.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.59 EPS for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. On average, equities research analysts expect that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.45%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio is currently 40.82%.

Analyst Upgrades and Downgrades

NVT has been the subject of several research analyst reports. Barclays reduced their target price on nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a research note on Monday. Royal Bank of Canada upped their target price 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 reduced their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $85.50.

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.