7,951 Shares in nVent Electric PLC $NVT Acquired by R Squared Ltd

Key Points

• Institutional investor R Squared Ltd opened a new position in nVent Electric, buying 7,951 shares (~$811,000) in the fourth quarter, and several other institutions also added to positions — institutional ownership stands at 90.05%.
• Corporate insiders materially reduced holdings last quarter, selling a total of 17,841 shares (~$2.05M), including CEO Beth Wozniak's sale of 7,597 shares (~$884,822)1.70% ownership.
• nVent posted a slightly-better-than-expected quarter (EPS $0.90 vs. $0.89 consensus) with revenue of $1.07B (up 41.9% YoY); the stock trades near its 52-week high and carries a consensus analyst rating of "Moderate Buy" with a $144 price target.

R Squared Ltd bought a new position in shares of nVent Electric PLC (NYSE:NVT - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 7,951 shares of the company's stock, valued at approximately $811,000.

Several other large investors have also recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC purchased a new stake in nVent Electric during the 4th quarter worth approximately $201,000. Kestra Private Wealth Services LLC purchased a new stake in nVent Electric during the 4th quarter worth approximately $599,000. Pictet Asset Management Holding SA increased its stake in nVent Electric by 3.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,696,550 shares of the company's stock worth $172,997,000 after buying an additional 57,528 shares during the period. Veracity Capital LLC increased its stake in nVent Electric by 4.0% during the 4th quarter. Veracity Capital LLC now owns 5,023 shares of the company's stock worth $512,000 after buying an additional 191 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in nVent Electric during the 4th quarter worth approximately $45,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Beth Wozniak sold 7,597 shares of the company's stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $116.47, for a total value of $884,822.59. Following the completion of the transaction, the chief executive officer owned 52,990 shares in the company, valued at approximately $6,171,745.30. This represents a 12.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Susan M. Cameron sold 5,000 shares of the company's stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $114.52, for a total transaction of $572,600.00. Following the completion of the transaction, the director owned 13,405 shares of the company's stock, valued at approximately $1,535,140.60. The trade was a 27.17% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 17,841 shares of company stock worth $2,046,166. Corporate insiders own 1.70% of the company's stock.

nVent Electric Trading Down 0.1%

Shares of NYSE:NVT opened at $142.09 on Tuesday. nVent Electric PLC has a 52 week low of $53.03 and a 52 week high of $145.31. The company's 50 day moving average is $121.59 and its two-hundred day moving average is $112.00. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.41. The company has a market cap of $22.98 billion, a PE ratio of 33.04, a P/E/G ratio of 1.48 and a beta of 1.28.

nVent Electric (NYSE:NVT - Get Free Report) last issued its earnings results on Saturday, February 7th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01. nVent Electric had a net margin of 18.25% and a return on equity of 15.18%. The business had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1 billion. During the same quarter in the prior year, the business posted $0.59 EPS. The company's revenue for the quarter was up 41.9% on a year-over-year basis. Equities analysts predict that nVent Electric PLC will post 4.15 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Friday, April 24th will be issued a $0.21 dividend. The ex-dividend date is Friday, April 24th. This represents a $0.84 annualized dividend and a dividend yield of 0.6%. nVent Electric's dividend payout ratio is presently 19.53%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NVT. Roth Mkm increased their price objective on shares of nVent Electric from $130.00 to $135.00 and gave the company a "buy" rating in a research report on Monday, March 23rd. Wolfe Research raised shares of nVent Electric to an "outperform" rating in a research report on Monday, February 9th. Wall Street Zen downgraded shares of nVent Electric from a "strong-buy" rating to a "buy" rating in a research report on Monday, February 23rd. Citigroup increased their price objective on shares of nVent Electric from $133.00 to $152.00 and gave the company a "buy" rating in a research report on Monday, April 13th. Finally, Barclays increased their price objective on shares of nVent Electric from $141.00 to $150.00 and gave the company an "overweight" rating in a research report on Wednesday, April 1st. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, nVent Electric has an average rating of "Moderate Buy" and a consensus price target of $144.00.

About nVent Electric

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company's electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.

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