Brooklyn Investment Group Invests $44,000 in nVent Electric plc (NYSE:NVT)

Brooklyn Investment Group acquired a new position in shares of nVent Electric plc (NYSE:NVT) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 625 shares of the company’s stock, valued at approximately $44,000.

Other hedge funds have also modified their holdings of the company. Larson Financial Group LLC increased its stake in shares of nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares in the last quarter. UMB Bank n.a. increased its stake in shares of nVent Electric by 280.0% during the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after purchasing an additional 308 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in shares of nVent Electric during the 3rd quarter worth approximately $29,000. ORG Partners LLC purchased a new position in shares of nVent Electric during the 2nd quarter worth approximately $31,000. Finally, First Foundation Advisors purchased a new position in shares of nVent Electric during the 2nd quarter worth approximately $34,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

nVent Electric Stock Up 2.3 %

Shares of NVT opened at $78.31 on Friday. The firm has a market cap of $12.91 billion, a PE ratio of 22.96, a price-to-earnings-growth ratio of 3.94 and a beta of 1.26. The company’s fifty day moving average is $73.57 and its two-hundred day moving average is $73.21. nVent Electric plc has a fifty-two week low of $52.70 and a fifty-two week high of $86.57. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The company had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 EPS. Analysts forecast that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a $0.19 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.97%. nVent Electric’s dividend payout ratio (DPR) is presently 22.29%.

Analyst Upgrades and Downgrades

NVT has been the topic of a number of analyst reports. KeyCorp raised their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Barclays decreased their target price on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada decreased their target price on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, nVent Electric has a consensus rating of “Buy” and a consensus target price of $85.33.

Insider Activity at nVent Electric

In related news, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total transaction of $608,629.14. Following the transaction, the chief accounting officer now owns 25,993 shares in the company, valued at approximately $1,972,088.91. The trade was a 23.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the transaction, the director now owns 45,040 shares in the company, valued at $3,603,200. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,382 shares of company stock worth $7,365,956. 2.50% of the stock is currently owned by corporate insiders.

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.