nVent Electric PLC $NVT Stock: Lido Advisors LLC Increases Stake

Lido Advisors LLC lifted its holdings in shares of nVent Electric PLC (NYSE:NVT) by 5.0% in the third quarter, Holdings Channel.com reports. The fund owned 156,559 shares of the company’s stock after purchasing an additional 7,431 shares during the period. Lido Advisors LLC’s holdings in nVent Electric were worth $25,108,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in nVent Electric by 4.9% in 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 in the last quarter. Bank of New York Mellon Corp increased its position in nVent Electric by 3.5% during the 1st quarter. Bank of New York Mellon Corp now owns 2,018,579 shares of the company’s stock valued at $238,758,000 after purchasing an additional 68,818 shares during the period. First Trust Advisors LP increased its position in nVent Electric by 32.8% during the 1st quarter. First Trust Advisors LP now owns 1,696,369 shares of the company’s stock valued at $200,647,000 after purchasing an additional 419,239 shares during the period. Amundi raised its holdings in nVent Electric by 146.8% in the 1st quarter. Amundi now owns 1,092,802 shares of the company’s stock worth $129,257,000 after purchasing an additional 649,992 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in nVent Electric by 31.6% in the 1st 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 in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Trading Up 3.7%

NYSE NVT opened at $116.61 on Thursday. The company has a quick ratio of 1.93, a current ratio of 2.40 and a debt-to-equity ratio of 0.53. nVent Electric PLC has a twelve month low of $93.22 and a twelve month high of $184.64. The firm has a market capitalization of $18.84 billion, a PE ratio of 28.10, a P/E/G ratio of 0.57 and a beta of 1.39. The stock’s 50 day moving average is $146.83 and its 200 day moving average is $144.54.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Friday, October 30th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.12. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.43 billion. nVent Electric had a return on equity of 20.82% and a net margin of 12.84%. The firm’s revenue for the quarter was up 43.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 earnings per share. Research analysts forecast that nVent Electric PLC will post 5.36 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 6th. Stockholders of record on Friday, October 23rd were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, October 23rd. nVent Electric’s payout ratio is 20.24%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NVT shares. Citigroup dropped their target price on shares of nVent Electric from $228.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, November 2nd. BMO Capital Markets started coverage on shares of nVent Electric in a research note on Sunday, October 4th. They set an “outperform” rating and a $212.00 target price on the stock. Evercore reiterated an “outperform” rating and set a $210.00 price target on shares of nVent Electric in a research report on Monday, August 3rd. Wall Street Zen downgraded shares of nVent Electric from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 17th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $200.00 price target on shares of nVent Electric in a research note on Saturday, August 1st. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $197.12.

Insider Activity at nVent Electric

In other nVent Electric news, Director Herbert Parker bought 3,000 shares of nVent Electric stock in a transaction dated Monday, November 9th. The shares were purchased at an average cost of $113.14 per share, with a total value of $339,420.00. Following the transaction, the director directly owned 19,853 shares of the company’s stock, valued at $2,246,168.42. This represents a 17.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.70% of the company’s stock.

nVent Electric Company 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.