9,597 Shares in nVent Electric PLC $NVT Purchased by Point Nemo Capital LLC

Point Nemo Capital LLC acquired a new position in shares of nVent Electric PLC (NYSE:NVT) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 9,597 shares of the company’s stock, valued at approximately $1,539,000.

Several other large investors have also recently modified their holdings of the company. State Street Corp lifted its position in nVent Electric by 4.9% during the second quarter. State Street Corp now owns 5,313,122 shares of the company’s stock valued at $901,159,000 after acquiring an additional 250,248 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in nVent Electric by 3.5% in the first quarter. Bank of New York Mellon Corp now owns 2,018,579 shares of the company’s stock valued at $238,758,000 after acquiring an additional 68,818 shares in the last quarter. First Trust Advisors LP grew its holdings in nVent Electric by 32.8% in the first quarter. First Trust Advisors LP now owns 1,696,369 shares of the company’s stock worth $200,647,000 after purchasing an additional 419,239 shares during the last quarter. Amundi grew its holdings in nVent Electric by 146.8% in the first quarter. Amundi now owns 1,092,802 shares of the company’s stock worth $129,257,000 after purchasing an additional 649,992 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in nVent Electric by 31.6% in the first quarter. Royal Bank of Canada now owns 719,484 shares of the company’s stock worth $85,101,000 after purchasing an additional 172,742 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Roth Capital reaffirmed a “buy” rating and set a $200.00 price target on shares of nVent Electric in a research report on Wednesday, October 28th. The Goldman Sachs Group reiterated a “buy” rating and set a $200.00 price objective on shares of nVent Electric in a report on Saturday, August 1st. Wall Street Zen cut nVent Electric from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 17th. Royal Bank Of Canada raised their price objective on nVent Electric from $200.00 to $208.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 14th. Finally, KeyCorp restated an “overweight” rating on shares of nVent Electric in a research note on Monday, November 2nd. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $197.82.

nVent Electric Price Performance

Shares of NYSE:NVT opened at $106.10 on Friday. nVent Electric PLC has a twelve month low of $93.22 and a twelve month high of $184.64. The company’s 50 day moving average is $148.90 and its 200 day moving average is $144.49. The company has a current ratio of 2.40, a quick ratio of 1.93 and a debt-to-equity ratio of 0.53. The company has a market cap of $17.15 billion, a PE ratio of 25.57, a price-to-earnings-growth ratio of 0.54 and a beta of 1.39.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Friday, October 30th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.40 by $0.12. nVent Electric had a net margin of 12.84% and a return on equity of 20.82%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the business posted $0.91 EPS. The business’s quarterly revenue was up 43.7% compared to the same quarter last year. On average, sell-side analysts forecast that nVent Electric PLC will post 5.36 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 6th. Investors of record on Friday, October 23rd were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, October 23rd. nVent Electric’s dividend payout ratio (DPR) is 20.24%.

Insider Activity

In related news, insider Robert van der Kolk sold 5,858 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $164.32, for a total transaction of $962,586.56. Following the completion of the transaction, the insider owned 27,387 shares of the company’s stock, valued at $4,500,231.84. This trade represents a 17.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is currently owned by company insiders.

nVent Electric Profile

nVent Electric plc designs and manufactures products and solutions that protect and connect electrical systems. Its offerings include electrical enclosures, cable management and fastening products, grounding and bonding solutions, and systems for managing heat in electrical and industrial applications.

The company serves customers across industries such as data centers, energy, infrastructure, commercial construction and manufacturing. Its products are marketed under brands including Hoffman, ERICO, CADDY, Raychem and Schroff, and it serves customers in markets around the world.

nVent became an independent, publicly traded company in 2018 after its separation from Pentair.