Marks Group Wealth Management Inc acquired a new stake in nVent Electric plc (NYSE:NVT - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 134,824 shares of the company's stock, valued at approximately $9,473,000. Marks Group Wealth Management Inc owned 0.08% of nVent Electric at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. grew its stake in nVent Electric by 280.0% in the third quarter. UMB Bank n.a. now owns 418 shares of the company's stock worth $29,000 after purchasing an additional 308 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in shares of nVent Electric in the third quarter valued at about $29,000. ORG Partners LLC purchased a new stake in nVent Electric in the second quarter worth about $31,000. First Foundation Advisors bought a new position in nVent Electric during the 2nd quarter worth about $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in nVent Electric during the 2nd quarter valued at about $34,000. 90.05% of the stock is currently owned by institutional investors.
Shares of NVT stock opened at $69.78 on Wednesday. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. The company has a market cap of $11.60 billion, a PE ratio of 20.46, a PEG ratio of 1.40 and a beta of 1.26. nVent Electric plc has a 12-month low of $49.08 and a 12-month high of $86.57. The business's fifty day simple moving average is $69.59 and its 200-day simple moving average is $73.09.
nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.01). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The business had revenue of $880.30 million during the quarter, compared to analyst estimates of $892.89 million. During the same period in the prior year, the business posted $0.77 EPS. nVent Electric's revenue was up 9.6% compared to the same quarter last year. Analysts expect that nVent Electric plc will post 3.26 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric's dividend payout ratio (DPR) is presently 22.29%.
In related news, Director Herbert K. Parker acquired 7,566 shares of the stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the purchase, the director now owns 34,524 shares of the company's stock, valued at approximately $2,268,572.04. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other nVent Electric news, Director Herbert K. Parker acquired 7,566 shares of the firm's stock in a transaction on Thursday, August 15th. The stock was acquired at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the purchase, the director now owns 34,524 shares in the company, valued at approximately $2,268,572.04. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael B. Faulconer sold 20,004 shares of the company's stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the completion of the sale, the insider now directly owns 19,766 shares in the company, valued at approximately $1,251,978.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.50% of the stock is owned by insiders.
Several equities research analysts have recently weighed in on NVT shares. Barclays lowered their price target on shares of nVent Electric from $87.00 to $86.00 and set an "overweight" rating for the company in a research report on Wednesday, October 2nd. Royal Bank of Canada dropped their target price on nVent Electric from $82.00 to $80.00 and set an "outperform" rating on the stock in a research report on Monday. Finally, KeyCorp lifted their price target on nVent Electric from $80.00 to $84.00 and gave the company an "overweight" rating in a report on Monday, October 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $85.33.
Check Out Our Latest Analysis on NVT
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider nVent Electric, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and nVent Electric wasn't on the list.
While nVent Electric currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.