Banco de Sabadell S.A Buys Shares of 13,400 nVent Electric PLC (NVT)

Banco de Sabadell S.A bought a new position in nVent Electric PLC (NYSE:NVT) during the 2nd quarter, HoldingsChannel reports. The fund bought 13,400 shares of the company’s stock, valued at approximately $334,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tyers Asset Management LLC bought a new stake in shares of nVent Electric in the 2nd quarter worth about $184,000. SG Americas Securities LLC acquired a new position in nVent Electric during the 2nd quarter worth about $1,349,000. Credit Agricole S A acquired a new position in nVent Electric during the 2nd quarter worth about $3,082,000. Palisade Asset Management LLC acquired a new position in nVent Electric during the 2nd quarter worth about $372,000. Finally, BP PLC acquired a new position in nVent Electric during the 2nd quarter worth about $578,000. 81.60% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE NVT opened at $28.41 on Friday. The company has a current ratio of 2.12, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36. nVent Electric PLC has a 12-month low of $21.00 and a 12-month high of $29.84.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Thursday, July 26th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.02. The company had revenue of $542.70 million for the quarter, compared to analyst estimates of $542.50 million. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. research analysts expect that nVent Electric PLC will post 1.76 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 17th. Investors of record on Friday, August 3rd were given a dividend of $0.175 per share. The ex-dividend date of this dividend was Thursday, August 2nd. This represents a $0.70 annualized dividend and a yield of 2.46%.

In related news, Director Randall J. Hogan sold 204,462 shares of the company’s stock in a transaction dated Friday, June 22nd. The shares were sold at an average price of $26.79, for a total transaction of $5,477,536.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William T. Monahan sold 17,133 shares of the company’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $28.08, for a total transaction of $481,094.64. The disclosure for this sale can be found here.

Separately, Barclays reiterated a “hold” rating and set a $25.00 price target on shares of nVent Electric in a research report on Friday, July 27th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $28.25.

nVent Electric Company Profile

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products and solutions in the United States, Canada, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.

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Institutional Ownership by Quarter for nVent Electric (NYSE:NVT)

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