66,662 Shares in nVent Electric PLC $NVT Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments opened a new position in nVent Electric, buying 66,662 shares valued at approximately $10.7 million. Institutional investors collectively own about 90% of the company’s stock.
• nVent reported quarterly EPS of $1.52, beating the $1.40 consensus estimate, while revenue of $1.51 billion exceeded forecasts and rose 43.7% year over year.
• Analysts have a consensus “Buy” rating and an average price target of $197.82. The stock opened at $112.18 and was reported down 13.2%.

Mirae Asset Global Investments Co. Ltd. bought a new position in nVent Electric PLC (NYSE:NVT - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 66,662 shares of the company's stock, valued at approximately $10,691,000.

A number of other hedge funds have also recently modified their holdings of the business. Vise Technologies Inc. increased its holdings in shares of nVent Electric by 80.1% in the 3rd quarter. Vise Technologies Inc. now owns 5,542 shares of the company's stock valued at $889,000 after acquiring an additional 2,465 shares during the period. State of Wyoming boosted its stake in nVent Electric by 28.1% during the third quarter. State of Wyoming now owns 2,638 shares of the company's stock worth $423,000 after buying an additional 578 shares during the last quarter. Choreo LLC boosted its stake in nVent Electric by 2.8% during the third quarter. Choreo LLC now owns 3,122 shares of the company's stock worth $501,000 after buying an additional 86 shares during the period. Interchange Capital Partners LLC lifted its holdings in nVent Electric by 2.9% during the 3rd quarter. Interchange Capital Partners LLC now owns 2,885 shares of the company's stock worth $463,000 after buying an additional 81 shares in the last quarter. Finally, Livelsberger Financial Advisory purchased a new stake in shares of nVent Electric in the 3rd quarter valued at approximately $28,000. Institutional investors own 90.05% of the company's stock.

Insiders Place Their Bets

In related news, insider Robert van der Kolk sold 5,858 shares of the business's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $164.32, for a total transaction of $962,586.56. Following the completion of the transaction, the insider directly owned 27,387 shares in the company, valued at approximately $4,500,231.84. The trade was a 17.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. initiated coverage on nVent Electric in a report on Tuesday, October 20th. They issued an "overweight" rating and a $167.00 target price on the stock. Wall Street Zen lowered nVent Electric from a "strong-buy" rating to a "buy" rating in a research report on Saturday, October 17th. BMO Capital Markets started coverage on shares of nVent Electric in a report on Sunday, October 4th. They set an "outperform" rating and a $212.00 target price on the stock. Sanford C. Bernstein restated an "outperform" rating and issued a $233.00 price target on shares of nVent Electric in a research report on Monday. Finally, Zacks Research upgraded nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $197.82.

nVent Electric Stock Down 13.2%

nVent Electric stock opened at $112.18 on Thursday. nVent Electric PLC has a 52-week low of $93.22 and a 52-week high of $184.64. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.93 and a current ratio of 2.40. The firm has a 50 day moving average price of $151.04 and a two-hundred day moving average price of $144.58. The firm has a market cap of $18.13 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 0.65 and a beta of 1.39.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings results on Friday, October 30th. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.12. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.43 billion. nVent Electric had a return on equity of 20.82% and a net margin of 12.84%. nVent Electric's revenue was up 43.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.91 earnings per share. Equities analysts predict that nVent Electric PLC will post 5.36 EPS for the current year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 6th. Investors of record on Friday, October 23rd will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, October 23rd. nVent Electric's dividend payout ratio is 20.24%.

nVent Electric Company Profile

nVent Electric plc is a global provider of electrical connection, protection and management solutions. The company designs and manufactures products that help protect electrical and electronic systems, manage heat, and support the installation and operation of critical infrastructure.

Its products include electrical and electronic enclosures, industrial cooling and thermal-management systems, cable management and fastening solutions, grounding and bonding equipment, busway and power-distribution products, and related connection technologies.

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