Covenant Partners LLC Takes Position in nVent Electric PLC $NVT

Key Points

• Covenant Partners LLC acquired 3,305 shares of nVent Electric PLC, valued at approximately $242,000, during the 2nd quarter.
• The company recently reported $0.86 earnings per share for the quarter, exceeding estimates and reflecting a 30.1% year-over-year revenue increase.
• nVent Electric announced a quarterly dividend of $0.20 per share, with an ex-dividend date of October 17th, representing an annualized dividend yield of 0.8%.

Covenant Partners LLC acquired a new stake in shares of nVent Electric PLC (NYSE:NVT - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,305 shares of the company's stock, valued at approximately $242,000.

Several other institutional investors also recently made changes to their positions in the stock. Cookson Peirce & Co. Inc. purchased a new stake in shares of nVent Electric during the 2nd quarter valued at $905,000. Legacy Wealth Asset Management LLC grew its stake in shares of nVent Electric by 75.3% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 7,104 shares of the company's stock valued at $520,000 after buying an additional 3,051 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of nVent Electric by 0.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 308,058 shares of the company's stock valued at $22,565,000 after buying an additional 1,739 shares during the period. Chicago Partners Investment Group LLC acquired a new position in shares of nVent Electric during the 2nd quarter valued at $482,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of nVent Electric during the 2nd quarter valued at $469,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other nVent Electric news, EVP Lynnette R. Heath sold 17,853 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $89.33, for a total value of $1,594,808.49. Following the completion of the transaction, the executive vice president owned 30,512 shares in the company, valued at approximately $2,725,636.96. This represents a 36.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Randolph A. Wacker sold 3,000 shares of the company's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $89.09, for a total transaction of $267,270.00. Following the completion of the transaction, the chief accounting officer owned 27,525 shares of the company's stock, valued at approximately $2,452,202.25. This trade represents a 9.83% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 261,111 shares of company stock worth $23,367,520. 2.50% of the stock is currently owned by insiders.

nVent Electric Price Performance

NVT opened at $99.64 on Wednesday. The company has a 50-day moving average of $94.90 and a 200-day moving average of $77.05. The company has a market capitalization of $16.04 billion, a P/E ratio of 28.39, a PEG ratio of 1.49 and a beta of 1.38. nVent Electric PLC has a 1-year low of $41.71 and a 1-year high of $102.31. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.20 and a current ratio of 1.67.

nVent Electric (NYSE:NVT - Get Free Report) last released its earnings results on Friday, August 1st. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.07. The company had revenue of $963.10 million during the quarter, compared to the consensus estimate of $906.96 million. nVent Electric had a net margin of 17.72% and a return on equity of 13.36%. The company's revenue was up 30.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.82 EPS. nVent Electric has set its Q3 2025 guidance at 0.860-0.880 EPS. FY 2025 guidance at 3.220-3.300 EPS. Equities analysts expect that nVent Electric PLC will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 17th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. nVent Electric's payout ratio is presently 22.79%.

Analyst Upgrades and Downgrades

NVT has been the topic of several recent research reports. Citigroup restated a "buy" rating on shares of nVent Electric in a report on Thursday, October 9th. The Goldman Sachs Group boosted their price objective on shares of nVent Electric from $99.00 to $111.00 and gave the stock a "buy" rating in a report on Tuesday, September 16th. Weiss Ratings reiterated a "hold (c+)" rating on shares of nVent Electric in a report on Wednesday, October 8th. Roth Capital reiterated a "buy" rating and issued a $100.00 price objective (up previously from $89.00) on shares of nVent Electric in a report on Monday, August 4th. Finally, Wall Street Zen upgraded shares of nVent Electric from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $99.71.

nVent Electric Company Profile

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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