Aigen Investment Management LP Invests $1.86 Million in nVent Electric PLC (NYSE:NVT)

Key Points

• Aigen Investment Management LP has invested approximately $1.86 million in nVent Electric PLC, acquiring 35,380 shares during the first quarter.
• nVent Electric reported strong financial performance with a 30.1% revenue increase year-over-year, reaching $963.1 million for the quarter and an EPS of $0.86, exceeding expectations.
• A number of analysts have upgraded nVent Electric's stock ratings, reflecting increased confidence, with a consensus target price now set at $87.00.

Aigen Investment Management LP purchased a new position in shares of nVent Electric PLC (NYSE:NVT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 35,380 shares of the company's stock, valued at approximately $1,855,000.

Other large investors have also modified their holdings of the company. Capital A Wealth Management LLC bought a new position in shares of nVent Electric during the fourth quarter worth about $27,000. Park Square Financial Group LLC bought a new position in shares of nVent Electric during the fourth quarter worth about $38,000. Whipplewood Advisors LLC lifted its position in shares of nVent Electric by 467.3% during the first quarter. Whipplewood Advisors LLC now owns 607 shares of the company's stock worth $32,000 after purchasing an additional 500 shares during the last quarter. Hughes Financial Services LLC bought a new position in shares of nVent Electric during the first quarter worth about $36,000. Finally, First Horizon Advisors Inc. lifted its position in shares of nVent Electric by 58.0% during the first quarter. First Horizon Advisors Inc. now owns 817 shares of the company's stock worth $43,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 90.05% of the company's stock.

nVent Electric Price Performance

Shares of NYSE:NVT opened at $88.57 on Friday. The firm's 50 day moving average is $74.83 and its two-hundred day moving average is $64.66. nVent Electric PLC has a 52 week low of $41.71 and a 52 week high of $91.55. The firm has a market capitalization of $14.26 billion, a P/E ratio of 25.23, a PEG ratio of 1.52 and a beta of 1.35. The company has a current ratio of 1.67, a quick ratio of 1.20 and a debt-to-equity ratio of 0.50.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.79 by $0.07. nVent Electric had a net margin of 17.72% and a return on equity of 13.36%. The company had revenue of $963.10 million for the quarter, compared to analyst estimates of $906.96 million. During the same quarter last year, the business earned $0.82 earnings per share. nVent Electric's revenue was up 30.1% compared to the same quarter last year. 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 disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Saturday, January 1st were issued a $0.20 dividend. The ex-dividend date was Friday, July 18th. This represents a $0.80 annualized dividend and a dividend yield of 0.9%. nVent Electric's dividend payout ratio (DPR) is 22.79%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NVT. Citigroup increased their price objective on shares of nVent Electric from $69.00 to $86.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Royal Bank Of Canada reiterated an "outperform" rating and set a $102.00 price objective (up previously from $85.00) on shares of nVent Electric in a research note on Monday, August 4th. Wall Street Zen upgraded shares of nVent Electric from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. KeyCorp increased their price objective on shares of nVent Electric from $78.00 to $84.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Finally, Barclays reiterated an "overweight" rating on shares of nVent Electric in a research note on Monday, August 4th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, nVent Electric presently has a consensus rating of "Buy" and a consensus target price of $87.00.

Insiders Place Their Bets

In other news, insider Der Kolk Robert J. Van sold 10,993 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $89.14, for a total value of $979,916.02. Following the completion of the transaction, the insider directly owned 40,772 shares in the company, valued at $3,634,416.08. This trade represents a 21.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Herbert K. Parker sold 20,597 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $89.88, for a total transaction of $1,851,258.36. Following the completion of the transaction, the director owned 15,070 shares of the company's stock, valued at $1,354,491.60. This trade represents a 57.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 194,246 shares of company stock valued at $17,383,112. 1.80% of the stock is currently owned by insiders.

About nVent Electric

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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