Outfitter Financial LLC Buys 572 Shares of nVent Electric plc (NYSE:NVT)

Outfitter Financial LLC grew its position in nVent Electric plc (NYSE:NVT) by 1.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 50,464 shares of the company’s stock after acquiring an additional 572 shares during the period. nVent Electric accounts for approximately 2.6% of Outfitter Financial LLC’s investment portfolio, making the stock its 8th biggest position. Outfitter Financial LLC’s holdings in nVent Electric were worth $2,982,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NVT. Quent Capital LLC raised its stake in shares of nVent Electric by 123.2% during the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock valued at $25,000 after acquiring an additional 234 shares during the last quarter. HM Payson & Co. acquired a new position in nVent Electric during the 3rd quarter worth about $26,000. Pacific Center for Financial Services bought a new stake in shares of nVent Electric in the 3rd quarter valued at about $32,000. Baystate Wealth Management LLC acquired a new stake in shares of nVent Electric in the third quarter valued at about $33,000. Finally, Headlands Technologies LLC bought a new position in shares of nVent Electric during the third quarter worth about $35,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Price Performance

Shares of nVent Electric stock traded up $0.04 on Friday, hitting $82.11. 762,715 shares of the company traded hands, compared to its average volume of 1,349,562. nVent Electric plc has a 12-month low of $40.22 and a 12-month high of $83.78. The firm’s 50-day simple moving average is $73.41 and its 200 day simple moving average is $62.65. The company has a market cap of $13.63 billion, a P/E ratio of 23.93, a P/E/G ratio of 1.63 and a beta of 1.35. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Friday, May 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. The firm had revenue of $874.60 million during the quarter, compared to analysts’ expectations of $864.14 million. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.67 EPS. Analysts expect that nVent Electric plc will post 3.25 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Thursday, April 25th. nVent Electric’s dividend payout ratio is currently 22.16%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NVT. The Goldman Sachs Group raised their price target on shares of nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft initiated coverage on nVent Electric in a report on Monday, March 11th. They set a “buy” rating and a $83.00 price target for the company. Citigroup raised their target price on nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday. Royal Bank of Canada reduced their price objective on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Barclays raised their price target on shares of nVent Electric from $74.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, nVent Electric has an average rating of “Moderate Buy” and a consensus price target of $87.00.

Insider Buying and Selling

In other news, Director Jerry W. Burris sold 4,008 shares of nVent Electric stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $63.39, for a total value of $254,067.12. Following the transaction, the director now owns 43,072 shares in the company, valued at $2,730,334.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Michael B. Faulconer sold 10,961 shares of the company’s stock in a transaction dated 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 directly owns 33,109 shares of the company’s stock, valued at $2,229,228.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jerry W. Burris sold 4,008 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $63.39, for a total value of $254,067.12. Following the transaction, the director now owns 43,072 shares in the company, valued at approximately $2,730,334.08. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.

nVent Electric 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.