6,534 Shares in nVent Electric plc (NYSE:NVT) Purchased by Callahan Advisors LLC

Callahan Advisors LLC bought a new stake in shares of nVent Electric plc (NYSE:NVT) in the fourth quarter, Holdings Channel reports. The fund bought 6,534 shares of the company’s stock, valued at approximately $445,000.

Other large investors have also recently made changes to their positions in the company. Crews Bank & Trust purchased a new stake in shares of nVent Electric in the 4th quarter worth approximately $26,000. Larson Financial Group LLC boosted its holdings in nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares in the last quarter. Huntington National Bank increased its holdings in shares of nVent Electric by 57.3% during the third quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after acquiring an additional 223 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of nVent Electric during the third quarter valued at $44,000. Finally, Tsfg LLC purchased a new position in shares of nVent Electric in the 4th quarter worth about $51,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Stock Up 0.8 %

NVT opened at $68.86 on Wednesday. The stock has a market capitalization of $11.35 billion, a price-to-earnings ratio of 35.13, a PEG ratio of 1.52 and a beta of 1.26. The firm has a 50 day moving average price of $69.53 and a 200-day moving average price of $70.13. nVent Electric plc has a twelve month low of $56.44 and a twelve month high of $86.57. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65.

nVent Electric (NYSE:NVT) last announced its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. Equities research analysts forecast that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 annualized dividend and a yield of 1.16%. nVent Electric’s payout ratio is 40.82%.

Insider Buying and Selling at nVent Electric

In related news, Director Jerry W. Burris sold 6,558 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the transaction, the director now owns 45,040 shares of the company’s stock, valued at approximately $3,603,200. This trade represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Barclays increased their price objective on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Royal Bank of Canada increased their price target on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Citigroup lowered their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $86.33.

nVent Electric 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.