nVent Electric plc (NYSE:NVT) Shares Acquired by 1832 Asset Management L.P.

1832 Asset Management L.P. grew its stake in nVent Electric plc (NYSE:NVT) by 4,741.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 164,623 shares of the company’s stock after purchasing an additional 161,223 shares during the period. 1832 Asset Management L.P.’s holdings in nVent Electric were worth $12,413,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of NVT. Norges Bank acquired a new position in shares of nVent Electric in the 4th quarter valued at $109,630,000. Balyasny Asset Management L.P. raised its position in nVent Electric by 201.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,401,285 shares of the company’s stock valued at $82,802,000 after purchasing an additional 937,149 shares during the last quarter. Schroder Investment Management Group purchased a new stake in nVent Electric in the 4th quarter valued at $51,781,000. Goldman Sachs Group Inc. raised its position in nVent Electric by 50.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,633,421 shares of the company’s stock valued at $96,519,000 after purchasing an additional 547,624 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its position in nVent Electric by 2,475.4% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 558,714 shares of the company’s stock valued at $33,014,000 after purchasing an additional 537,020 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Price Performance

Shares of NYSE NVT traded up $0.21 during trading on Friday, hitting $70.54. 1,993,668 shares of the company were exchanged, compared to its average volume of 1,395,745. The firm’s fifty day moving average price is $78.34 and its 200 day moving average price is $72.36. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.99 and a quick ratio of 1.35. The company has a market cap of $11.71 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.54 and a beta of 1.31. nVent Electric plc has a 1 year low of $45.60 and a 1 year high of $86.57.

nVent Electric (NYSE:NVT) last issued its earnings results on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.04. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The company had revenue of $874.60 million for the quarter, compared to analyst estimates of $864.14 million. During the same period in the prior year, the business posted $0.67 earnings per share. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, sell-side analysts expect that nVent Electric plc will post 3.27 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.08%. The ex-dividend date is Friday, July 19th. nVent Electric’s payout ratio is currently 22.16%.

Wall Street Analyst Weigh In

Several analysts recently commented on NVT shares. Barclays upped their price target on shares of nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. Citigroup upped their price target on shares of nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a research report on Monday, May 6th. The Goldman Sachs Group upped their price objective on shares of nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Finally, Royal Bank of Canada cut their price objective on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.00.

About nVent Electric

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.