Roubaix Capital LLC Acquires New Position in nVent Electric plc (NYSE:NVT)

Roubaix Capital LLC bought a new position in nVent Electric plc (NYSE:NVT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 51,214 shares of the company’s stock, valued at approximately $3,598,000. nVent Electric makes up about 2.0% of Roubaix Capital LLC’s holdings, making the stock its 25th biggest holding.

Other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB raised its holdings in shares of nVent Electric by 15.5% during the first quarter. Nordea Investment Management AB now owns 75,323 shares of the company’s stock worth $5,684,000 after acquiring an additional 10,135 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of nVent Electric by 6.6% during the 2nd quarter. Federated Hermes Inc. now owns 410,902 shares of the company’s stock worth $31,479,000 after purchasing an additional 25,482 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of nVent Electric by 4.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 190,240 shares of the company’s stock valued at $14,344,000 after buying an additional 8,489 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of nVent Electric by 18.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 306,319 shares of the company’s stock valued at $23,099,000 after buying an additional 46,748 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of nVent Electric by 250.4% in the 1st quarter. SG Americas Securities LLC now owns 62,384 shares of the company’s stock valued at $4,704,000 after buying an additional 44,582 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Insider Activity at nVent Electric

In related news, Director Herbert K. Parker acquired 7,566 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were bought at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the acquisition, the director now owns 34,524 shares in the company, valued at $2,268,572.04. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Herbert K. Parker acquired 7,566 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were bought at an average price of $65.71 per share, with a total value of $497,161.86. Following the acquisition, the director now owns 34,524 shares of the company’s stock, valued at $2,268,572.04. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lynnette R. Heath sold 8,242 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total value of $496,662.92. Following the completion of the transaction, the executive vice president now owns 30,432 shares of the company’s stock, valued at $1,833,832.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

nVent Electric Stock Down 0.0 %

nVent Electric stock opened at $74.57 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.17 and a quick ratio of 1.49. nVent Electric plc has a fifty-two week low of $47.08 and a fifty-two week high of $86.57. The firm has a fifty day moving average price of $69.27 and a two-hundred day moving average price of $73.15. The firm has a market cap of $12.38 billion, a price-to-earnings ratio of 21.74, a P/E/G ratio of 1.50 and a beta of 1.27.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.01). The business had revenue of $880.30 million for the quarter, compared to analyst estimates of $892.89 million. nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. nVent Electric’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.77 EPS. As a group, analysts forecast that nVent Electric plc will post 3.26 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is currently 22.16%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NVT shares. Royal Bank of Canada reduced their target price on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. KeyCorp lifted their price objective 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 cut their target price on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $85.67.

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.