Marks Group Wealth Management Inc Sells 7,048 Shares of nVent Electric plc (NYSE:NVT)

Marks Group Wealth Management Inc trimmed its holdings in shares of nVent Electric plc (NYSE:NVT) by 5.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 127,776 shares of the company’s stock after selling 7,048 shares during the period. Marks Group Wealth Management Inc owned approximately 0.08% of nVent Electric worth $8,709,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of NVT. Regents Gate Capital LLP purchased a new position in shares of nVent Electric in the 4th quarter worth $6,492,000. Seelaus Asset Management LLC raised its position in nVent Electric by 18.8% in the fourth quarter. Seelaus Asset Management LLC now owns 8,337 shares of the company’s stock worth $568,000 after acquiring an additional 1,320 shares during the period. Kingsview Wealth Management LLC purchased a new position in shares of nVent Electric during the 4th quarter worth $364,000. Triasima Portfolio Management inc. bought a new stake in shares of nVent Electric during the 4th quarter valued at $383,000. Finally, Hedeker Wealth LLC increased its stake in shares of nVent Electric by 15.0% in the 4th quarter. Hedeker Wealth LLC now owns 20,946 shares of the company’s stock worth $1,428,000 after purchasing an additional 2,727 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Down 1.9 %

Shares of NVT opened at $67.12 on Wednesday. nVent Electric plc has a 12-month low of $56.44 and a 12-month high of $86.57. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $11.06 billion, a PE ratio of 34.25, a price-to-earnings-growth ratio of 3.01 and a beta of 1.26. The business’s 50 day moving average is $70.50 and its 200 day moving average is $70.22.

nVent Electric (NYSE:NVT) last issued its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. Research analysts expect that nVent Electric plc will post 3.03 earnings per share for the current fiscal year.

nVent Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.19%. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, January 17th. nVent Electric’s dividend payout ratio is 40.82%.

Insider Buying and Selling

In other nVent Electric news, Director Jerry W. Burris sold 6,558 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the sale, the director now owns 45,040 shares of the company’s stock, valued at $3,603,200. This trade represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NVT has been the topic of several recent research reports. Barclays raised their price objective on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Citigroup lowered their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Royal Bank of Canada upped their price target on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, nVent Electric presently has an average rating of “Buy” and an average price target of $86.33.

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.