GSA Capital Partners LLP Has $2.21 Million Position in nVent Electric PLC (NYSE:NVT)

Key Points

• GSA Capital Partners LLP significantly increased its holdings in nVent Electric PLC by 464.7%, acquiring an additional 34,711 shares, bringing its total to 42,181 shares valued at $2.21 million at the end of Q1.
• Analysts have raised their price targets for nVent Electric, with Goldman Sachs increasing its target from $78 to $87, indicating confidence in the company's performance and maintaining a "buy" rating.
• nVent Electric has announced a $0.20 per share quarterly dividend to be paid on August 1st, representing a 1.01% dividend yield and showcasing the company's ongoing commitment to returning value to shareholders.

GSA Capital Partners LLP lifted its position in nVent Electric PLC (NYSE:NVT - Free Report) by 464.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,181 shares of the company's stock after acquiring an additional 34,711 shares during the quarter. GSA Capital Partners LLP's holdings in nVent Electric were worth $2,211,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in NVT. American Century Companies Inc. boosted its holdings in shares of nVent Electric by 20.7% during the fourth quarter. American Century Companies Inc. now owns 74,262 shares of the company's stock worth $5,062,000 after purchasing an additional 12,759 shares during the period. LPL Financial LLC boosted its holdings in shares of nVent Electric by 12.6% during the fourth quarter. LPL Financial LLC now owns 140,043 shares of the company's stock worth $9,545,000 after purchasing an additional 15,685 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of nVent Electric by 113.7% during the fourth quarter. JPMorgan Chase & Co. now owns 1,075,409 shares of the company's stock worth $73,300,000 after purchasing an additional 572,086 shares during the period. NEOS Investment Management LLC acquired a new stake in shares of nVent Electric during the fourth quarter worth approximately $462,000. Finally, Norges Bank acquired a new stake in shares of nVent Electric during the fourth quarter worth approximately $197,434,000. Hedge funds and other institutional investors own 90.05% of the company's stock.

Analyst Ratings Changes

NVT has been the subject of several research reports. Citigroup raised their price target on shares of nVent Electric from $69.00 to $86.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Barclays boosted their price target on nVent Electric from $74.00 to $80.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Wall Street Zen upgraded shares of nVent Electric from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Roth Capital started coverage on shares of nVent Electric in a research note on Wednesday, July 23rd. They issued a "buy" rating and a $89.00 target price for the company. Finally, The Goldman Sachs Group lifted their target price on shares of nVent Electric from $78.00 to $87.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, nVent Electric currently has a consensus rating of "Buy" and an average price target of $81.57.

Insider Activity at nVent Electric

In related news, EVP Lynnette R. Heath sold 4,041 shares of the company's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $61.35, for a total transaction of $247,915.35. Following the completion of the transaction, the executive vice president directly owned 32,665 shares in the company, valued at $2,003,997.75. This represents a 11.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.80% of the company's stock.

nVent Electric Stock Up 14.0%

Shares of NYSE NVT traded up $10.99 during mid-day trading on Friday, reaching $89.41. 4,791,934 shares of the company traded hands, compared to its average volume of 2,188,942. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.42 and a current ratio of 2.87. The stock has a market cap of $14.72 billion, a PE ratio of 25.61, a price-to-earnings-growth ratio of 1.56 and a beta of 1.31. The company's fifty day moving average is $72.01 and its two-hundred day moving average is $64.00. nVent Electric PLC has a fifty-two week low of $41.71 and a fifty-two week high of $88.93.

nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.07. nVent Electric had a return on equity of 13.54% and a net margin of 18.22%. The business's revenue was up 30.1% on a year-over-year basis. During the same quarter last year, the business posted $0.82 EPS. On average, analysts expect that nVent Electric PLC will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Saturday, January 1st 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 dividend yield of 0.9%. nVent Electric's payout ratio is presently 22.86%.

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.