Good Life Advisors LLC Raises Stake in nVent Electric plc (NYSE:NVT)

Good Life Advisors LLC increased its stake in nVent Electric plc (NYSE:NVT) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,892 shares of the company’s stock after acquiring an additional 2,004 shares during the period. Good Life Advisors LLC’s holdings in nVent Electric were worth $2,787,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NVT. Crews Bank & Trust acquired a new stake in shares of nVent Electric in the fourth quarter worth approximately $26,000. Larson Financial Group LLC lifted its position in nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after buying an additional 181 shares in the last quarter. Huntington National Bank lifted its position in nVent Electric by 57.3% during the third quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after buying an additional 223 shares in the last quarter. Brooklyn Investment Group acquired a new position in nVent Electric during the third quarter valued at approximately $44,000. Finally, Tsfg LLC acquired a new position in nVent Electric during the fourth quarter valued at approximately $51,000. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Trading Up 0.8 %

NYSE NVT opened at $68.86 on Wednesday. The company’s fifty day simple moving average is $69.53 and its 200-day simple moving average is $70.13. nVent Electric plc has a 52 week low of $56.44 and a 52 week high of $86.57. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The stock has a market cap of $11.35 billion, a P/E ratio of 35.13, a PEG ratio of 1.52 and a beta of 1.26.

nVent Electric (NYSE:NVT) last posted its earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, hitting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. Equities research analysts predict that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.16%. nVent Electric’s dividend payout ratio (DPR) is presently 40.82%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NVT. Royal Bank of Canada lifted 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 price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Barclays lifted their price target on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, nVent Electric has an average rating of “Buy” and a consensus target price of $86.33.

Insider Buying and Selling

In related news, Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction on 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 owns 45,040 shares in the company, valued at approximately $3,603,200. The trade was a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.50% of the company’s stock.

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.