TABR Capital Management LLC purchased a new position in shares of nVent Electric PLC (NYSE:NVT – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 32,201 shares of the company’s stock, valued at approximately $3,284,000. nVent Electric makes up approximately 1.3% of TABR Capital Management LLC’s investment portfolio, making the stock its 28th largest position.
Other institutional investors also recently added to or reduced their stakes in the company. CI Investments Inc. increased its position in nVent Electric by 15.6% during the 3rd quarter. CI Investments Inc. now owns 712 shares of the company’s stock worth $70,000 after purchasing an additional 96 shares during the period. Laird Norton Wetherby Wealth Management LLC lifted its holdings in shares of nVent Electric by 0.9% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 10,694 shares of the company’s stock valued at $1,055,000 after buying an additional 98 shares during the period. BCS Private Wealth Management Inc. lifted its holdings in shares of nVent Electric by 1.5% in the 3rd quarter. BCS Private Wealth Management Inc. now owns 6,631 shares of the company’s stock valued at $654,000 after buying an additional 100 shares during the period. NorthRock Partners LLC boosted its stake in shares of nVent Electric by 1.9% in the third quarter. NorthRock Partners LLC now owns 5,620 shares of the company’s stock valued at $554,000 after buying an additional 104 shares in the last quarter. Finally, Fulton Bank N.A. boosted its stake in shares of nVent Electric by 1.1% in the third quarter. Fulton Bank N.A. now owns 10,242 shares of the company’s stock valued at $1,010,000 after buying an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.
nVent Electric Stock Performance
NYSE NVT opened at $116.46 on Monday. The business has a 50 day moving average price of $113.44 and a 200 day moving average price of $106.29. The company has a market capitalization of $18.83 billion, a P/E ratio of 27.08, a PEG ratio of 1.21 and a beta of 1.31. nVent Electric PLC has a 1-year low of $41.71 and a 1-year high of $124.22. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.63 and a quick ratio of 1.16.
nVent Electric Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Friday, April 24th will be given a $0.21 dividend. The ex-dividend date is Friday, April 24th. This represents a $0.84 annualized dividend and a dividend yield of 0.7%. nVent Electric’s payout ratio is currently 19.53%.
Insider Activity at nVent Electric
In related news, CEO Beth Wozniak sold 7,597 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $116.47, for a total value of $884,822.59. Following the sale, the chief executive officer directly owned 52,990 shares of the company’s stock, valued at approximately $6,171,745.30. This represents a 12.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jerry W. Burris sold 5,244 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $112.27, for a total transaction of $588,743.88. Following the transaction, the director owned 46,371 shares of the company’s stock, valued at $5,206,072.17. This trade represents a 10.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 17,841 shares of company stock valued at $2,046,166. Insiders own 2.50% of the company’s stock.
Wall Street Analyst Weigh In
NVT has been the subject of several research analyst reports. Barclays increased their price objective on nVent Electric from $140.00 to $141.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Weiss Ratings upgraded shares of nVent Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 11th. Citigroup upped their price target on shares of nVent Electric from $131.00 to $133.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Wall Street Zen cut shares of nVent Electric from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 23rd. Finally, Zacks Research downgraded shares of nVent Electric from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, nVent Electric has a consensus rating of “Moderate Buy” and a consensus price target of $137.88.
Check Out Our Latest Stock Analysis on nVent Electric
nVent Electric Profile
nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.
The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.
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