Holocene Advisors LP bought a new stake in nVent Electric PLC (NYSE:NVT – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,533,505 shares of the company’s stock, valued at approximately $151,265,000. Holocene Advisors LP owned about 0.95% of nVent Electric at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the business. Gotham Asset Management LLC grew its position in shares of nVent Electric by 4.1% during the 3rd quarter. Gotham Asset Management LLC now owns 510,813 shares of the company’s stock worth $50,387,000 after buying an additional 20,000 shares during the period. Eventide Asset Management LLC lifted its holdings in nVent Electric by 1.9% in the third quarter. Eventide Asset Management LLC now owns 541,333 shares of the company’s stock valued at $53,337,000 after buying an additional 10,110 shares during the period. Cinctive Capital Management LP boosted its stake in nVent Electric by 109.0% in the third quarter. Cinctive Capital Management LP now owns 67,366 shares of the company’s stock valued at $6,645,000 after acquiring an additional 35,141 shares during the last quarter. Clark Capital Management Group Inc. boosted its stake in nVent Electric by 2.4% in the third quarter. Clark Capital Management Group Inc. now owns 1,830,406 shares of the company’s stock valued at $180,551,000 after acquiring an additional 43,502 shares during the last quarter. Finally, Aventail Capital Group LP acquired a new stake in nVent Electric during the 3rd quarter worth $6,080,000. Institutional investors and hedge funds own 90.05% of the company’s stock.
nVent Electric Price Performance
Shares of NVT stock opened at $109.86 on Monday. nVent Electric PLC has a 12-month low of $41.71 and a 12-month high of $122.92. The firm has a market capitalization of $17.77 billion, a price-to-earnings ratio of 25.55, a price-to-earnings-growth ratio of 1.14 and a beta of 1.31. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.41. The firm has a fifty day moving average of $112.29 and a 200-day moving average of $105.33.
nVent Electric Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Friday, April 24th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, April 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.8%. nVent Electric’s dividend payout ratio (DPR) is currently 19.53%.
Insider Transactions at nVent Electric
In other news, Director Susan M. Cameron sold 5,000 shares of nVent Electric stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $114.52, for a total transaction of $572,600.00. Following the transaction, the director owned 13,405 shares in the company, valued at $1,535,140.60. The trade was a 27.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jerry W. Burris sold 5,244 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $112.27, for a total value of $588,743.88. Following the completion of the transaction, the director owned 46,371 shares of the company’s stock, valued at $5,206,072.17. This represents a 10.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 17,841 shares of company stock valued at $2,046,166 over the last 90 days. 2.50% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several analysts have commented on the stock. Glj Research started coverage on shares of nVent Electric in a research report on Thursday, March 5th. They set a “buy” rating and a $151.00 target price for the company. Barclays raised their price target on nVent Electric from $140.00 to $141.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Zacks Research downgraded nVent Electric from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. Royal Bank Of Canada increased their target price on nVent Electric from $136.00 to $138.00 and gave the company an “outperform” rating in a research note on Monday, February 9th. Finally, UBS Group restated a “buy” rating and set a $135.00 target price on shares of nVent Electric in a report on Friday. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $129.78.
Check Out Our Latest Report on NVT
nVent Electric Profile
nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.
The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.
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