Cetera Investment Advisers Has $11.25 Million Stock Position in nVent Electric PLC $NVT

Cetera Investment Advisers boosted its holdings in nVent Electric PLC (NYSE:NVT) by 7.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 95,134 shares of the company’s stock after buying an additional 6,435 shares during the period. Cetera Investment Advisers’ holdings in nVent Electric were worth $11,252,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Manchester Capital Management LLC grew its stake in shares of nVent Electric by 128.1% in the fourth quarter. Manchester Capital Management LLC now owns 308 shares of the company’s stock worth $31,000 after acquiring an additional 173 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in nVent Electric during the 4th quarter valued at $32,000. Elyxium Wealth LLC acquired a new position in nVent Electric during the 4th quarter valued at $36,000. Advisory Services Network LLC bought a new stake in nVent Electric in the 3rd quarter valued at $35,000. Finally, Birchwood Financial Partners Inc. bought a new stake in nVent Electric in the 4th quarter valued at $40,000. 90.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Citigroup boosted their price objective on shares of nVent Electric from $152.00 to $187.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $187.00 target price on shares of nVent Electric in a research note on Monday, May 4th. Zacks Research raised nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 4th. Clear Str upgraded nVent Electric to a “strong-buy” rating in a research note on Monday, July 13th. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $191.00 price target on shares of nVent Electric in a report on Thursday, July 9th. Four investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $190.57.

nVent Electric Stock Performance

NYSE NVT opened at $144.96 on Friday. nVent Electric PLC has a twelve month low of $78.11 and a twelve month high of $184.64. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 0.41. The stock has a market cap of $23.44 billion, a P/E ratio of 48.16, a PEG ratio of 1.26 and a beta of 1.36. The company’s 50-day simple moving average is $162.22 and its 200 day simple moving average is $138.79.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Friday, May 1st. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.15. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.11 billion. nVent Electric had a net margin of 11.37% and a return on equity of 16.82%. The company’s revenue for the quarter was up 53.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 earnings per share. As a group, research analysts forecast that nVent Electric PLC will post 4.56 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.6%. nVent Electric’s dividend payout ratio is presently 27.91%.

nVent Electric announced that its board has authorized a stock buyback program on Saturday, May 16th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 1.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other nVent Electric news, EVP Lynnette R. Heath sold 27,471 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $167.59, for a total value of $4,603,864.89. Following the sale, the executive vice president directly owned 37,089 shares in the company, valued at $6,215,745.51. This represents a 42.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Sara E. Zawoyski sold 29,412 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $172.49, for a total value of $5,073,275.88. Following the transaction, the insider owned 97,068 shares of the company’s stock, valued at $16,743,259.32. This represents a 23.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 87,685 shares of company stock worth $14,961,768 in the last 90 days. 1.70% of the stock is owned by corporate insiders.

nVent Electric Company 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.