nVent Electric plc (NYSE:NVT) Position Increased by Intech Investment Management LLC

Intech Investment Management LLC lifted its position in nVent Electric plc (NYSE:NVT) by 137.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,904 shares of the company’s stock after acquiring an additional 30,017 shares during the period. Intech Investment Management LLC’s holdings in nVent Electric were worth $3,647,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NVT. Swedbank AB acquired a new stake in nVent Electric during the 3rd quarter valued at $110,663,000. Millennium Management LLC raised its position in nVent Electric by 159.9% during the second quarter. Millennium Management LLC now owns 1,346,576 shares of the company’s stock valued at $103,161,000 after buying an additional 828,425 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in nVent Electric by 16.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock worth $374,201,000 after acquiring an additional 673,990 shares in the last quarter. HM Payson & Co. boosted its position in nVent Electric by 109,496.5% during the 3rd quarter. HM Payson & Co. now owns 438,386 shares of the company’s stock worth $30,801,000 after acquiring an additional 437,986 shares during the period. Finally, DigitalBridge Group Inc. acquired a new stake in nVent Electric during the 2nd quarter worth about $21,291,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Insider Buying and Selling

In other news, CFO Sara E. Zawoyski sold 14,505 shares of nVent Electric stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total value of $1,113,403.80. Following the transaction, the chief financial officer now owns 62,215 shares of the company’s stock, valued at $4,775,623.40. This trade represents a 18.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Randolph A. Wacker sold 8,022 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the sale, the chief accounting officer now directly owns 25,993 shares of the company’s stock, valued at approximately $1,972,088.91. This represents a 23.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,824 shares of company stock worth $6,841,316. 2.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

nVent Electric Price Performance

NYSE NVT opened at $78.34 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $12.91 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 4.01 and a beta of 1.26. nVent Electric plc has a 12-month low of $52.26 and a 12-month high of $86.57. The company has a 50 day moving average price of $72.62 and a two-hundred day moving average price of $73.28.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.18). The business 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 EPS. As a group, equities analysts predict that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

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

nVent Electric Company 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.