Hedeker Wealth LLC Increases Position in nVent Electric plc (NYSE:NVT)

Hedeker Wealth LLC increased its stake in nVent Electric plc (NYSE:NVT) by 15.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,946 shares of the company’s stock after purchasing an additional 2,727 shares during the quarter. Hedeker Wealth LLC’s holdings in nVent Electric were worth $1,428,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NVT. Franklin Resources Inc. increased its holdings in nVent Electric by 22.1% during the 3rd quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after acquiring an additional 1,269,335 shares in the last quarter. State Street Corp increased its holdings in nVent Electric by 0.9% during the 3rd quarter. State Street Corp now owns 5,031,623 shares of the company’s stock valued at $353,522,000 after acquiring an additional 42,465 shares in the last quarter. Geode Capital Management LLC increased its holdings in nVent Electric by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock valued at $194,894,000 after acquiring an additional 29,794 shares in the last quarter. Janus Henderson Group PLC increased its holdings in nVent Electric by 23.6% during the 3rd quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock valued at $171,492,000 after acquiring an additional 466,042 shares in the last quarter. Finally, Clean Energy Transition LLP increased its holdings in nVent Electric by 56.5% during the 3rd quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock valued at $158,411,000 after acquiring an additional 813,909 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

NVT has been the subject of several recent research reports. Barclays raised their target price on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Royal Bank of Canada raised their target price on shares of nVent Electric from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. KeyCorp raised their price target on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Citigroup decreased their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $86.17.

nVent Electric Price Performance

nVent Electric stock opened at $65.63 on Friday. nVent Electric plc has a 12-month low of $56.44 and a 12-month high of $86.57. The stock has a market capitalization of $10.82 billion, a P/E ratio of 19.25, a P/E/G ratio of 3.02 and a beta of 1.26. The firm’s 50-day moving average is $71.11 and its two-hundred day moving average is $70.39. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36.

nVent Electric (NYSE:NVT) last released its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. Equities analysts predict that nVent Electric plc will post 2.49 earnings per share for the current year.

nVent Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, January 17th. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.22%. nVent Electric’s dividend payout ratio (DPR) is currently 23.46%.

Insider Buying and Selling

In related news, CFO Sara E. Zawoyski sold 14,505 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total value of $1,113,403.80. Following the sale, the chief financial officer now directly owns 62,215 shares of the company’s stock, valued at approximately $4,775,623.40. This trade represents a 18.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jerry W. Burris sold 6,558 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the sale, the director now directly owns 45,040 shares in the company, valued at $3,603,200. This represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

nVent Electric Company 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.