Callahan Advisors LLC Purchases New Holdings in nVent Electric plc (NYSE:NVT)

Callahan Advisors LLC acquired a new position in nVent Electric plc (NYSE:NVT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,534 shares of the company’s stock, valued at approximately $445,000.

Other institutional investors have also recently bought and sold shares of the company. Franklin Resources Inc. grew its position in nVent Electric by 22.1% during the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after buying an additional 1,269,335 shares during the period. State Street Corp boosted its stake in nVent Electric by 0.9% in the third quarter. State Street Corp now owns 5,031,623 shares of the company’s stock valued at $353,522,000 after acquiring an additional 42,465 shares during the last quarter. Geode Capital Management LLC grew its position in shares of nVent Electric by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock valued at $194,894,000 after acquiring an additional 29,794 shares during the period. Janus Henderson Group PLC increased its stake in shares of nVent Electric by 23.6% during the 3rd quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock worth $171,492,000 after purchasing an additional 466,042 shares during the last quarter. Finally, Clean Energy Transition LLP raised its holdings in shares of nVent Electric by 56.5% in the 3rd quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock worth $158,411,000 after purchasing an additional 813,909 shares during the period. Institutional investors own 90.05% of the company’s stock.

Insider Activity

In other nVent Electric news, Director Jerry W. Burris sold 6,558 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the sale, the director now directly owns 45,040 shares in the company, valued at $3,603,200. This trade represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

NVT has been the subject of a number of recent analyst reports. Royal Bank of Canada boosted their price target on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. 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 report on Monday, January 13th. Finally, Barclays raised their price target on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nVent Electric currently has a consensus rating of “Buy” and an average price target of $86.33.

nVent Electric Stock Up 0.8 %

NYSE NVT opened at $68.86 on Wednesday. The business’s 50-day moving average is $69.53 and its 200 day moving average is $70.13. The stock has a market capitalization of $11.35 billion, a PE ratio of 35.13, a PEG ratio of 1.52 and a beta of 1.26. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. nVent Electric plc has a 1 year low of $56.44 and a 1 year high of $86.57.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share 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%. Sell-side analysts forecast that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be given a $0.20 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.16%. nVent Electric’s dividend payout ratio is 40.82%.

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.