Intrust Bank NA Purchases New Shares in nVent Electric plc (NYSE:NVT)

Intrust Bank NA acquired a new position in nVent Electric plc (NYSE:NVT) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,094 shares of the company’s stock, valued at approximately $242,000.

A number of other hedge funds have also recently modified their holdings of the business. State of Michigan Retirement System grew its holdings in nVent Electric by 0.5% in the fourth quarter. State of Michigan Retirement System now owns 39,806 shares of the company’s stock worth $2,352,000 after purchasing an additional 200 shares during the period. Quent Capital LLC grew its stake in shares of nVent Electric by 123.2% in the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after acquiring an additional 234 shares during the last quarter. Pinnacle Associates Ltd. raised its position in shares of nVent Electric by 5.8% in the 4th quarter. Pinnacle Associates Ltd. now owns 4,281 shares of the company’s stock worth $253,000 after purchasing an additional 236 shares during the last quarter. Cookson Peirce & Co. Inc. boosted its stake in nVent Electric by 4.1% in the 3rd quarter. Cookson Peirce & Co. Inc. now owns 7,012 shares of the company’s stock worth $372,000 after purchasing an additional 277 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in nVent Electric by 3.6% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 8,917 shares of the company’s stock valued at $472,000 after purchasing an additional 307 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

Insiders Place Their Bets

In related news, insider Michael B. Faulconer sold 10,961 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $67.33, for a total transaction of $738,004.13. Following the completion of the transaction, the insider now owns 33,109 shares in the company, valued at $2,229,228.97. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Michael B. Faulconer sold 10,961 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $67.33, for a total transaction of $738,004.13. Following the completion of the transaction, the insider now directly owns 33,109 shares of the company’s stock, valued at $2,229,228.97. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Beth Wozniak sold 198,211 shares of nVent Electric stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $64.29, for a total value of $12,742,985.19. Following the completion of the sale, the chief executive officer now directly owns 342 shares in the company, valued at approximately $21,987.18. The disclosure for this sale can be found here. Insiders sold 400,252 shares of company stock worth $25,713,777 in the last three months. 2.50% of the stock is owned by company insiders.

nVent Electric Price Performance

Shares of NYSE:NVT opened at $71.09 on Thursday. The company has a market capitalization of $11.80 billion, a P/E ratio of 21.10, a P/E/G ratio of 1.55 and a beta of 1.35. nVent Electric plc has a 1-year low of $40.22 and a 1-year high of $78.98. The firm’s 50 day simple moving average is $72.09 and its two-hundred day simple moving average is $61.58. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.22.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.75 by $0.03. nVent Electric had a net margin of 17.38% and a return on equity of 17.53%. The firm had revenue of $861.20 million for the quarter, compared to the consensus estimate of $866.90 million. During the same period last year, the firm earned $0.66 EPS. The company’s revenue was up 16.1% on a year-over-year basis. Research analysts expect that nVent Electric plc will post 3.24 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be issued a $0.19 dividend. The ex-dividend date is Thursday, April 25th. This represents a $0.76 dividend on an annualized basis and a yield of 1.07%. nVent Electric’s dividend payout ratio is presently 22.55%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of nVent Electric in a report on Monday, March 11th. They set a “buy” rating and a $83.00 price target on the stock. Citigroup boosted their target price on nVent Electric from $71.00 to $91.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. The Goldman Sachs Group lifted their price target on shares of nVent Electric from $69.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Barclays increased their price objective on shares of nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Royal Bank of Canada increased their price target on nVent Electric from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $81.60.

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.