Diversify Wealth Management LLC Has $484,000 Holdings in nVent Electric plc (NYSE:NVT)

Diversify Wealth Management LLC lifted its position in shares of nVent Electric plc (NYSE:NVT) by 19.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,624 shares of the company’s stock after purchasing an additional 1,085 shares during the quarter. Diversify Wealth Management LLC’s holdings in nVent Electric were worth $484,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Nordea Investment Management AB raised its position in shares of nVent Electric by 15.5% during the first quarter. Nordea Investment Management AB now owns 75,323 shares of the company’s stock worth $5,684,000 after acquiring an additional 10,135 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of nVent Electric by 6.6% during the second quarter. Federated Hermes Inc. now owns 410,902 shares of the company’s stock worth $31,479,000 after buying an additional 25,482 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of nVent Electric by 4.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 190,240 shares of the company’s stock worth $14,344,000 after buying an additional 8,489 shares during the period. DekaBank Deutsche Girozentrale boosted its position in shares of nVent Electric by 18.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 306,319 shares of the company’s stock worth $23,099,000 after buying an additional 46,748 shares during the period. Finally, SG Americas Securities LLC boosted its position in nVent Electric by 250.4% during the first quarter. SG Americas Securities LLC now owns 62,384 shares of the company’s stock valued at $4,704,000 after purchasing an additional 44,582 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at nVent Electric

In related news, EVP Lynnette R. Heath sold 8,242 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total transaction of $496,662.92. Following the sale, the executive vice president now owns 30,432 shares of the company’s stock, valued at $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 available through the SEC website. In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total value of $1,267,053.36. Following the sale, the insider now owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Lynnette R. Heath sold 8,242 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 30,432 shares in the company, valued at approximately $1,833,832.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.

nVent Electric Price Performance

Shares of NYSE NVT opened at $74.44 on Friday. The firm has a market cap of $12.36 billion, a P/E ratio of 21.70, a price-to-earnings-growth ratio of 1.50 and a beta of 1.27. The company has a current ratio of 2.17, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53. nVent Electric plc has a 1-year low of $47.08 and a 1-year high of $86.57. The business’s 50 day moving average is $69.45 and its 200-day moving average is $73.16.

nVent Electric (NYSE:NVT) last announced its earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The firm had revenue of $880.30 million for the quarter, compared to the consensus estimate of $892.89 million. nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. nVent Electric’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS. Equities research analysts predict that nVent Electric plc will post 3.26 earnings per share for the current year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.02%. nVent Electric’s dividend payout ratio (DPR) is currently 22.16%.

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.