Squarepoint Ops LLC bought a new position in nVent Electric plc (NYSE:NVT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 10,326 shares of the company's stock, valued at approximately $704,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Blue Trust Inc. increased its holdings in nVent Electric by 243.5% in the 4th quarter. Blue Trust Inc. now owns 869 shares of the company's stock worth $61,000 after acquiring an additional 616 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of nVent Electric during the fourth quarter worth $65,000. Johnson Financial Group Inc. bought a new position in shares of nVent Electric in the fourth quarter worth $65,000. Huntington National Bank grew its position in shares of nVent Electric by 60.9% in the fourth quarter. Huntington National Bank now owns 985 shares of the company's stock valued at $67,000 after purchasing an additional 373 shares in the last quarter. Finally, Siemens Fonds Invest GmbH bought a new stake in shares of nVent Electric during the 4th quarter valued at $75,000. Hedge funds and other institutional investors own 90.05% of the company's stock.
nVent Electric Price Performance
nVent Electric stock traded up $0.24 during mid-day trading on Wednesday, hitting $66.46. 1,070,851 shares of the company traded hands, compared to its average volume of 1,939,977. 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 one year low of $41.71 and a one year high of $82.05. The stock has a market cap of $10.94 billion, a price-to-earnings ratio of 33.91, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24. The stock has a fifty day moving average price of $57.33 and a 200-day moving average price of $63.93.
nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. The firm had revenue of $809.30 million for the quarter, compared to analyst estimates of $790.74 million. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. The company's revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.78 EPS. On average, equities analysts predict that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.
nVent Electric Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, July 18th. This represents a $0.80 annualized dividend and a yield of 1.20%. nVent Electric's payout ratio is 22.86%.
Insider Activity
In related news, EVP Lynnette R. Heath sold 4,041 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $61.35, for a total transaction of $247,915.35. Following the completion of the sale, the executive vice president now directly owns 32,665 shares in the company, valued at $2,003,997.75. This represents a 11.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.80% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on NVT. Citigroup reduced their target price on nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a report on Monday, April 14th. Seaport Res Ptn raised shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. Royal Bank of Canada increased their target price on shares of nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. KeyCorp raised their price target on shares of nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a 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 on the stock in a report on Monday, March 17th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, nVent Electric has an average rating of "Buy" and a consensus target price of $70.00.
View Our Latest Stock Analysis on nVent Electric
nVent Electric Company Profile
(
Free Report)
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.
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