GAMMA Investing LLC Purchases 180,218 Shares of nVent Electric plc (NYSE:NVT)

GAMMA Investing LLC raised its stake in nVent Electric plc (NYSE:NVT - Free Report) by 9,038.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 182,212 shares of the company's stock after buying an additional 180,218 shares during the quarter. GAMMA Investing LLC owned approximately 0.11% of nVent Electric worth $9,552,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC bought a new stake in nVent Electric in the fourth quarter valued at $27,000. Park Square Financial Group LLC bought a new stake in nVent Electric in the fourth quarter valued at $38,000. Blue Trust Inc. raised its stake in shares of nVent Electric by 243.5% during the fourth quarter. Blue Trust Inc. now owns 869 shares of the company's stock valued at $61,000 after purchasing an additional 616 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of nVent Electric during the fourth quarter valued at about $65,000. Finally, Huntington National Bank raised its stake in shares of nVent Electric by 60.9% during the fourth quarter. Huntington National Bank now owns 985 shares of the company's stock valued at $67,000 after purchasing an additional 373 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Price Performance

NYSE:NVT traded up $0.66 during mid-day trading on Wednesday, reaching $68.62. 1,674,363 shares of the stock were exchanged, compared to its average volume of 1,939,721. The business has a fifty day moving average price of $59.30 and a 200 day moving average price of $63.67. The firm has a market capitalization of $11.30 billion, a PE ratio of 35.01, a PEG ratio of 1.48 and a beta of 1.30. nVent Electric plc has a 1-year low of $41.71 and a 1-year high of $82.05. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65.

nVent Electric (NYSE:NVT - Get Free Report) last released its earnings results on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.01. The firm had revenue of $809.30 million for the quarter, compared to analyst estimates of $790.74 million. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. nVent Electric's revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.78 earnings per share. Research analysts expect that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be paid a $0.20 dividend. The ex-dividend date is Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a yield of 1.17%. nVent Electric's dividend payout ratio is currently 22.86%.

Insider Buying and Selling

In related news, EVP Lynnette R. Heath sold 4,041 shares of nVent Electric stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $61.35, for a total value of $247,915.35. Following the transaction, the executive vice president now owns 32,665 shares of the company's stock, valued at approximately $2,003,997.75. This trade represents a 11.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NVT. KeyCorp lifted their price objective on shares of nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Barclays lifted their price objective on shares of nVent Electric from $70.00 to $74.00 and gave the company an "overweight" rating in a research note on Monday. The Goldman Sachs Group cut their price objective on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. CL King upgraded shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective on the stock in a research note on Monday, March 17th. Finally, Citigroup cut their price objective on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, nVent Electric presently has a consensus rating of "Buy" and a consensus target price of $70.67.

nVent Electric 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.