Tyers Asset Management LLC acquired a new position in shares of nVent Electric PLC (NYSE:NVT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,326 shares of the company’s stock, valued at approximately $184,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Bank & Trust bought a new stake in nVent Electric during the second quarter worth about $105,000. Kohmann Bosshard Financial Services LLC acquired a new position in nVent Electric during the second quarter worth about $113,000. World Asset Management Inc acquired a new position in nVent Electric during the second quarter worth about $204,000. Reliance Trust Co. of Delaware acquired a new position in nVent Electric during the second quarter worth about $209,000. Finally, CIBC Asset Management Inc acquired a new position in nVent Electric during the second quarter worth about $224,000. 81.60% of the stock is owned by institutional investors and hedge funds.
In other news, Director Randall J. Hogan sold 204,462 shares of the company’s stock in a transaction that occurred on Friday, June 22nd. The stock was sold at an average price of $26.79, for a total value of $5,477,536.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of NYSE NVT opened at $28.44 on Thursday. The company has a current ratio of 2.12, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36. nVent Electric PLC has a 12 month low of $21.00 and a 12 month high of $29.84.
nVent Electric (NYSE:NVT) last released its quarterly earnings data on Thursday, July 26th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.02. The firm had revenue of $542.70 million during the quarter, compared to analyst estimates of $542.50 million. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. equities research analysts forecast that nVent Electric PLC will post 1.76 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 17th. Stockholders of record on Friday, August 3rd were paid a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Thursday, August 2nd.
Several research analysts have commented on the company. Barclays assumed coverage on nVent Electric in a research note on Monday, May 14th. They set an “equal weight” rating and a $24.00 target price for the company. Royal Bank of Canada assumed coverage on nVent Electric in a research note on Thursday, May 10th. They set an “outperform” rating and a $29.00 target price for the company. Susquehanna Bancshares assumed coverage on nVent Electric in a research note on Friday, May 18th. They set a “positive” rating and a $30.00 target price for the company. Finally, KeyCorp assumed coverage on nVent Electric in a research note on Tuesday, May 15th. They set an “overweight” rating and a $29.00 target price for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $28.25.
About nVent Electric
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products and solutions in the United States, Canada, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.
Further Reading: What are CEFs?
Receive News & Ratings for nVent Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for nVent Electric and related companies with MarketBeat.com's FREE daily email newsletter.