SeaBridge Investment Advisors LLC Has $5.59 Million Stock Position in nVent Electric plc (NYSE:NVT)

SeaBridge Investment Advisors LLC reduced its stake in shares of nVent Electric plc (NYSE:NVT) by 3.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 74,114 shares of the company’s stock after selling 3,043 shares during the quarter. nVent Electric accounts for 1.5% of SeaBridge Investment Advisors LLC’s holdings, making the stock its 14th biggest holding. SeaBridge Investment Advisors LLC’s holdings in nVent Electric were worth $5,588,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Private Advisor Group LLC grew its holdings in shares of nVent Electric by 6.1% during the 1st quarter. Private Advisor Group LLC now owns 6,598 shares of the company’s stock worth $498,000 after purchasing an additional 382 shares in the last quarter. Norden Group LLC grew its holdings in shares of nVent Electric by 17.8% during the 1st quarter. Norden Group LLC now owns 17,158 shares of the company’s stock worth $1,294,000 after purchasing an additional 2,592 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of nVent Electric by 36.5% during the 1st quarter. Van ECK Associates Corp now owns 57,767 shares of the company’s stock worth $4,356,000 after purchasing an additional 15,450 shares in the last quarter. Mayflower Financial Advisors LLC acquired a new stake in shares of nVent Electric during the 1st quarter worth $320,000. Finally, Principal Financial Group Inc. grew its holdings in shares of nVent Electric by 7.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,691,987 shares of the company’s stock worth $127,576,000 after purchasing an additional 113,300 shares in the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NVT has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on nVent Electric in a research report on Monday, March 11th. They set a “buy” rating and a $83.00 price objective for the company. Barclays upped their price objective on nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. Royal Bank of Canada dropped their price objective on nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. The Goldman Sachs Group upped their price objective on nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Finally, Citigroup upped their price objective on nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.00.

nVent Electric Trading Down 1.8 %

Shares of NVT stock traded down $1.43 on Friday, hitting $75.89. The company had a trading volume of 1,249,861 shares, compared to its average volume of 1,393,341. The firm has a market cap of $12.60 billion, a P/E ratio of 22.02, a P/E/G ratio of 1.69 and a beta of 1.31. The stock’s 50-day moving average is $78.97 and its two-hundred day moving average is $70.28. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.35 and a current ratio of 1.99. nVent Electric plc has a twelve month low of $45.60 and a twelve month high of $86.57.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.04. The company had revenue of $874.60 million during the quarter, compared to analysts’ expectations of $864.14 million. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The business’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.67 earnings per share. On average, equities research analysts anticipate that nVent Electric plc will post 3.27 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, July 19th. This represents a $0.76 annualized dividend and a yield of 1.00%. nVent Electric’s dividend payout ratio is currently 22.16%.

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.