Crestline Management LP Boosts Stake in nVent Electric plc (NYSE:NVT)

Crestline Management LP raised its stake in nVent Electric plc (NYSE:NVT - Free Report) by 90.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,259 shares of the company's stock after acquiring an additional 31,450 shares during the quarter. Crestline Management LP's holdings in nVent Electric were worth $4,516,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Quadrant Capital Group LLC lifted its holdings in nVent Electric by 4.1% in the fourth quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company's stock valued at $259,000 after buying an additional 150 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in nVent Electric by 26.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company's stock valued at $53,000 after buying an additional 162 shares in the last quarter. Calamos Advisors LLC increased its position in nVent Electric by 1.6% in the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company's stock valued at $782,000 after buying an additional 176 shares in the last quarter. Utah Retirement Systems increased its position in nVent Electric by 2.3% in the 4th quarter. Utah Retirement Systems now owns 8,923 shares of the company's stock valued at $608,000 after buying an additional 200 shares in the last quarter. Finally, Hancock Whitney Corp boosted its stake in nVent Electric by 1.4% during the 4th quarter. Hancock Whitney Corp now owns 15,031 shares of the company's stock valued at $1,025,000 after purchasing an additional 206 shares during the last quarter. 90.05% of the stock is owned by institutional investors.

Insider Transactions at nVent Electric

In related news, EVP Lynnette R. Heath sold 4,041 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $61.35, for a total transaction of $247,915.35. Following the sale, the executive vice president now owns 32,665 shares in the company, valued at approximately $2,003,997.75. This trade represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

NVT has been the topic of several research analyst reports. Seaport Res Ptn upgraded nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. Royal Bank of Canada raised their price objective on shares of nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. The Goldman Sachs Group decreased their target price on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Barclays raised their price target on shares of nVent Electric from $65.00 to $70.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Finally, CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price target for the company in a research report on Monday, March 17th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, nVent Electric presently has a consensus rating of "Buy" and a consensus price target of $70.00.

nVent Electric Trading Up 5.8%

nVent Electric stock traded up $3.59 during trading hours on Monday, hitting $65.07. The company had a trading volume of 868,492 shares, compared to its average volume of 2,336,311. The firm has a market cap of $10.71 billion, a P/E ratio of 33.21, a P/E/G ratio of 1.48 and a beta of 1.24. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. nVent Electric plc has a 1 year low of $41.71 and a 1 year high of $86.57. The company has a 50-day moving average price of $53.86 and a two-hundred day moving average price of $64.81.

nVent Electric (NYSE:NVT - Get Free Report) last posted its earnings results on Friday, May 2nd. The company reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. The company had revenue of $809.30 million during the quarter, compared to analysts' expectations of $790.74 million. During the same quarter in the prior year, the company posted $0.78 earnings per share. nVent Electric's revenue for the quarter was up 10.5% compared to the same quarter last year. On average, sell-side analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 25th were issued a $0.20 dividend. The ex-dividend date was Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.23%. nVent Electric's dividend payout ratio is currently 22.86%.

nVent Electric 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.