Friedenthal Financial Takes Position in nVent Electric PLC $NVT

Key Points

• Friedenthal Financial purchased a new stake of 10,033 shares (~$1.02M) in nVent in Q4, joining heavy institutional ownership that stands at about 90.05% with large recent buys from firms like Holocene and Balyasny.
• nVent beat expectations with $0.90 EPS (vs. $0.89) and revenue of $1.07B (vs. $1.00B), marking a 41.9% YoY revenue increase; the stock trades near its 12‑month high and carries a consensus analyst target of $144.
• The company declared a quarterly dividend of $0.21 (annualized $0.84, ~0.6% yield), while insiders have recently sold shares (17,841 shares worth ~$2.05M over 90 days), leaving insiders with about 1.7% ownership.

Friedenthal Financial purchased a new stake in nVent Electric PLC (NYSE:NVT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,033 shares of the company's stock, valued at approximately $1,023,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Holocene Advisors LP bought a new position in shares of nVent Electric in the third quarter worth $151,265,000. Balyasny Asset Management L.P. raised its stake in nVent Electric by 3,467.1% in the third quarter. Balyasny Asset Management L.P. now owns 1,326,100 shares of the company's stock valued at $130,807,000 after purchasing an additional 1,288,924 shares in the last quarter. Merewether Investment Management LP acquired a new stake in nVent Electric during the second quarter worth about $78,222,000. Bank of America Corp DE grew its stake in nVent Electric by 93.4% during the second quarter. Bank of America Corp DE now owns 998,452 shares of the company's stock worth $73,137,000 after buying an additional 482,083 shares in the last quarter. Finally, Woodline Partners LP grew its stake in nVent Electric by 61.5% during the third quarter. Woodline Partners LP now owns 815,086 shares of the company's stock worth $80,400,000 after buying an additional 310,283 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

nVent Electric Stock Performance

Shares of nVent Electric stock opened at $134.69 on Friday. 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 PLC has a twelve month low of $47.86 and a twelve month high of $135.92. The stock has a market cap of $21.78 billion, a price-to-earnings ratio of 31.32, a P/E/G ratio of 1.35 and a beta of 1.28. The company's fifty day moving average is $118.35 and its 200 day moving average is $110.16.

nVent Electric (NYSE:NVT - Get Free Report) last announced its earnings results on Saturday, February 7th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. nVent Electric had a return on equity of 15.18% and a net margin of 18.25%.The business had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1 billion. During the same period in the prior year, the business posted $0.59 earnings per share. The firm's revenue was up 41.9% on a year-over-year basis. Sell-side analysts forecast that nVent Electric PLC will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Investors 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 yield of 0.6%. nVent Electric's dividend payout ratio is presently 19.53%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NVT. KeyCorp increased their price objective on shares of nVent Electric from $125.00 to $130.00 and gave the stock an "overweight" rating in a research note on Monday, February 9th. Weiss Ratings upgraded nVent Electric from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, March 11th. Citigroup upped their target price on nVent Electric from $133.00 to $152.00 and gave the stock a "buy" rating in a research note on Monday, April 13th. Barclays upped their target price on nVent Electric from $141.00 to $150.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 1st. Finally, Zacks Research cut nVent Electric from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 6th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, nVent Electric presently has a consensus rating of "Moderate Buy" and a consensus target price of $144.00.

Insider Activity at nVent Electric

In related news, Director Jerry W. Burris sold 5,244 shares of the company's stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $112.27, for a total value of $588,743.88. Following the sale, the director directly owned 46,371 shares in the company, valued at $5,206,072.17. This represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $884,822.59. Following the sale, the chief executive officer directly owned 52,990 shares in the company, valued at $6,171,745.30. This trade represents a 12.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 17,841 shares of company stock worth $2,046,166 over the last ninety days. 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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