Everest Financial Group LLC Makes New $2.38 Million Investment in nVent Electric PLC $NVT

Everest Financial Group LLC acquired a new stake in shares of nVent Electric PLC (NYSE:NVT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,828 shares of the company’s stock, valued at approximately $2,378,000.

A number of other hedge funds have also recently made changes to their positions in NVT. Eurizon Capital SGR S.p.A. lifted its position in nVent Electric by 91.7% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 7,866 shares of the company’s stock valued at $1,264,000 after acquiring an additional 3,762 shares in the last quarter. CENTRAL TRUST Co boosted its stake in nVent Electric by 15.5% during the 3rd quarter. CENTRAL TRUST Co now owns 4,139 shares of the company’s stock valued at $664,000 after purchasing an additional 554 shares during the last quarter. Ritholtz Wealth Management acquired a new position in nVent Electric during the 3rd quarter valued at about $201,000. Jacobi Capital Management LLC bought a new stake in nVent Electric during the 3rd quarter worth approximately $155,000. Finally, Jefferies Financial Group Inc. bought a new stake in nVent Electric during the 3rd quarter worth approximately $37,985,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. BMO Capital Markets started coverage on nVent Electric in a research note on Sunday, October 4th. They issued an “outperform” rating and a $212.00 price objective for the company. Wall Street Zen cut nVent Electric from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 17th. Evercore reaffirmed an “outperform” rating and set a $210.00 target price on shares of nVent Electric in a research report on Monday, August 3rd. The Goldman Sachs Group reiterated a “buy” rating and set a $200.00 price target on shares of nVent Electric in a report on Saturday, August 1st. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $233.00 price target on shares of nVent Electric in a research report on Monday, November 2nd. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $197.12.

nVent Electric Trading Down 0.8%

NYSE:NVT opened at $115.74 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.93 and a current ratio of 2.40. The firm has a market cap of $18.70 billion, a price-to-earnings ratio of 27.89, a price-to-earnings-growth ratio of 0.59 and a beta of 1.39. nVent Electric PLC has a 52 week low of $93.22 and a 52 week high of $184.64. The firm has a 50-day moving average price of $146.19 and a two-hundred day moving average price of $144.56.

nVent Electric (NYSE:NVT) last posted its earnings results on Friday, October 30th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.40 by $0.12. nVent Electric had a net margin of 12.84% and a return on equity of 20.82%. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the firm earned $0.91 EPS. The company’s quarterly revenue was up 43.7% compared to the same quarter last year. On average, equities analysts expect that nVent Electric PLC will post 5.36 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 6th. Investors of record on Friday, October 23rd were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, October 23rd. nVent Electric’s dividend payout ratio (DPR) is presently 20.24%.

Insider Activity at nVent Electric

In other nVent Electric news, Director Herbert Parker purchased 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The shares were acquired at an average cost of $113.14 per share, for a total transaction of $339,420.00. Following the completion of the acquisition, the director owned 19,853 shares of the company’s stock, valued at $2,246,168.42. The trade was a 17.80% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.70% of the company’s stock.

nVent Electric Company Profile

nVent Electric plc designs and manufactures products and solutions that protect and connect electrical systems. Its offerings include electrical enclosures, cable management and fastening products, grounding and bonding solutions, and systems for managing heat in electrical and industrial applications. The company serves customers across industries such as data centers, energy, infrastructure, commercial construction and manufacturing. Its products are marketed under brands including Hoffman, ERICO, CADDY, Raychem and Schroff, and it serves customers in markets around the world. nVent became an independent, publicly traded company in 2018 after its separation from Pentair.