Asset Management One Co. Ltd. Buys New Position in nVent Electric PLC $NVT

Key Points

• Asset Management One Co. Ltd. acquired a new stake of 29,087 shares in nVent Electric (NYSE:NVT) in Q4, valued at about $3.0 million, and institutional investors now own 90.05% of the company.
• Analyst sentiment is broadly positive with a consensus rating of "Moderate Buy" (11 Buys, 1 Hold) and a consensus target price of $144.00, with recent coverage setting targets as high as $160.
• nVent recently beat quarterly estimates (EPS $0.90 vs. $0.89; revenue $1.07B, up 41.9% YoY), declared a $0.21 quarterly dividend (0.6% yield), while insiders sold about 17,841 shares (~$2.05M) last quarter.

Asset Management One Co. Ltd. acquired a new stake in nVent Electric PLC (NYSE:NVT - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 29,087 shares of the company's stock, valued at approximately $3,003,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TABR Capital Management LLC purchased a new position in shares of nVent Electric in the 4th quarter valued at about $3,284,000. Continuum Advisory LLC purchased a new position in shares of nVent Electric in the 3rd quarter valued at about $1,630,000. Nordea Investment Management AB raised its position in shares of nVent Electric by 10.0% during the 3rd quarter. Nordea Investment Management AB now owns 129,655 shares of the company's stock worth $12,671,000 after acquiring an additional 11,804 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of nVent Electric by 51.0% during the 3rd quarter. Pacer Advisors Inc. now owns 30,535 shares of the company's stock worth $3,012,000 after acquiring an additional 10,307 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of nVent Electric by 173.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 52,856 shares of the company's stock worth $5,214,000 after acquiring an additional 33,549 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Weiss Ratings raised nVent Electric from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, March 11th. Roth Mkm raised their target price on nVent Electric from $130.00 to $135.00 and gave the stock a "buy" rating in a research report on Monday, March 23rd. Evercore assumed coverage on nVent Electric in a research report on Monday, April 13th. They set an "outperform" rating and a $160.00 target price on the stock. Glj Research assumed coverage on nVent Electric in a research report on Thursday, March 5th. They set a "buy" rating and a $151.00 target price on the stock. Finally, Royal Bank Of Canada raised their target price on nVent Electric from $138.00 to $143.00 and gave the stock an "outperform" rating in a research report on Thursday, March 19th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $144.00.

nVent Electric Trading Up 1.9%

NVT opened at $142.82 on Friday. The firm has a market cap of $23.09 billion, a price-to-earnings ratio of 33.21, a price-to-earnings-growth ratio of 1.45 and a beta of 1.28. nVent Electric PLC has a 52 week low of $52.60 and a 52 week high of $144.11. The business's 50 day moving average is $120.43 and its two-hundred day moving average is $111.18. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.41.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings results on Saturday, February 7th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.89 by $0.01. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1 billion. nVent Electric had a return on equity of 15.18% and a net margin of 18.25%.The firm's revenue was up 41.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share. On average, research analysts predict that nVent Electric PLC will post 4.15 EPS for the current year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, April 24th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, April 24th. This represents a $0.84 annualized dividend and a yield of 0.6%. nVent Electric's payout ratio is 19.53%.

Insiders Place Their Bets

In other news, CEO Beth Wozniak sold 7,597 shares of the business's stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $116.47, for a total value of $884,822.59. Following the transaction, the chief executive officer owned 52,990 shares of the company's stock, valued at approximately $6,171,745.30. The trade was a 12.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Susan M. Cameron sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $114.52, for a total value of $572,600.00. Following the completion of the transaction, the director directly owned 13,405 shares in the company, 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. Insiders have sold a total of 17,841 shares of company stock valued at $2,046,166 over the last quarter. Company insiders own 1.70% of the company's stock.

nVent Electric Company Profile

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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