nVent Electric plc (NYSE:NVT) Shares Bought by Tidal Investments LLC

Tidal Investments LLC increased its position in shares of nVent Electric plc (NYSE:NVT) by 42.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,016 shares of the company’s stock after purchasing an additional 13,621 shares during the quarter. Tidal Investments LLC’s holdings in nVent Electric were worth $3,233,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NVT. Signaturefd LLC lifted its position in shares of nVent Electric by 22.0% in the 2nd quarter. Signaturefd LLC now owns 860 shares of the company’s stock worth $66,000 after buying an additional 155 shares during the last quarter. CIBC Asset Management Inc raised its stake in nVent Electric by 3.6% during the third quarter. CIBC Asset Management Inc now owns 4,823 shares of the company’s stock worth $339,000 after acquiring an additional 166 shares during the period. Larson Financial Group LLC lifted its holdings in nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares during the last quarter. Huntington National Bank boosted its stake in nVent Electric by 57.3% in the third quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after acquiring an additional 223 shares during the period. Finally, Anchor Investment Management LLC raised its position in shares of nVent Electric by 94.0% during the 2nd quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock worth $44,000 after purchasing an additional 280 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Citigroup boosted their price objective on nVent Electric from $78.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Royal Bank of Canada lowered their price target on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. KeyCorp boosted their target price 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 raised their price target on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, nVent Electric presently has a consensus rating of “Buy” and an average price target of $85.50.

Insider Activity at nVent Electric

In other news, CFO Sara E. Zawoyski sold 14,505 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the completion of the sale, the chief financial officer now directly owns 62,215 shares of the company’s stock, valued at $4,775,623.40. This trade represents a 18.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total value of $608,629.14. Following the completion of the transaction, the chief accounting officer now owns 25,993 shares in the company, valued at $1,972,088.91. The trade was a 23.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,382 shares of company stock valued at $7,365,956 over the last 90 days. 2.50% of the stock is currently owned by corporate insiders.

nVent Electric Stock Down 0.7 %

nVent Electric stock opened at $75.03 on Friday. nVent Electric plc has a 52 week low of $55.19 and a 52 week high of $86.57. The stock has a market cap of $12.37 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 3.88 and a beta of 1.25. The company’s 50-day moving average price is $74.96 and its two-hundred day moving average price is $72.71. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The company had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. nVent Electric’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 EPS. On average, analysts expect that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a $0.19 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 annualized dividend and a dividend yield of 1.01%. nVent Electric’s dividend payout ratio (DPR) is 22.29%.

nVent Electric Company Profile

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.