Kingsview Wealth Management LLC Invests $364,000 in nVent Electric plc (NYSE:NVT)

Kingsview Wealth Management LLC bought a new stake in nVent Electric plc (NYSE:NVT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,334 shares of the company’s stock, valued at approximately $364,000.

A number of other institutional investors have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB raised its stake in nVent Electric by 26.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock valued at $53,000 after buying an additional 162 shares during the period. CIBC Asset Management Inc boosted its holdings in nVent Electric by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 4,823 shares of the company’s stock valued at $339,000 after purchasing an additional 166 shares during the period. Calamos Advisors LLC boosted its stake in shares of nVent Electric by 1.6% in the fourth quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock valued at $782,000 after buying an additional 176 shares during the period. Larson Financial Group LLC grew its position in nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after buying an additional 181 shares in the last quarter. Finally, Huntington National Bank increased its stake in nVent Electric by 57.3% during the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after acquiring an additional 223 shares during the period. 90.05% of the stock is currently owned by institutional investors and hedge funds.

nVent Electric Stock Performance

NYSE:NVT opened at $67.45 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $11.12 billion, a PE ratio of 34.41, a price-to-earnings-growth ratio of 3.01 and a beta of 1.26. nVent Electric plc has a twelve month low of $56.44 and a twelve month high of $86.57. The stock’s 50-day simple moving average is $70.04 and its 200 day simple moving average is $70.18.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. On average, analysts anticipate that nVent Electric plc will post 3.03 EPS for the current fiscal year.

nVent Electric Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis 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 of this dividend was Friday, January 17th. nVent Electric’s dividend payout ratio is presently 40.82%.

Insider Activity 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 completion of the transaction, the director now owns 45,040 shares in the company, valued at $3,603,200. This trade represents a 12.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on NVT. Citigroup cut their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada upped their price objective 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. Finally, 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. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $86.33.

About nVent Electric

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.