Jefferies Financial Group Inc. Grows Position in nVent Electric PLC (NYSE:NVT)

Key Points

• Jefferies Financial Group Inc. significantly increased its stake in nVent Electric PLC by 1,211.7%, acquiring 60,671 additional shares to hold a total of 65,678 shares worth approximately $3.44 million.
• Several hedge funds have also increased their positions in nVent Electric, leading to a total institutional ownership of 90.05% in the company.
• Analyst ratings for nVent Electric remain positive, with a consensus rating of "Buy" and an average target price of $81.57, reflecting growing confidence in the company's performance.

Jefferies Financial Group Inc. boosted its holdings in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 1,211.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,678 shares of the company's stock after purchasing an additional 60,671 shares during the quarter. Jefferies Financial Group Inc.'s holdings in nVent Electric were worth $3,443,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Davis R M Inc. raised its stake in shares of nVent Electric by 4.0% in the first quarter. Davis R M Inc. now owns 5,200 shares of the company's stock valued at $273,000 after acquiring an additional 200 shares during the period. NorthRock Partners LLC increased its stake in nVent Electric by 14.5% in the 1st quarter. NorthRock Partners LLC now owns 7,270 shares of the company's stock worth $381,000 after buying an additional 920 shares during the period. XTX Topco Ltd increased its stake in nVent Electric by 192.2% in the 1st quarter. XTX Topco Ltd now owns 12,284 shares of the company's stock worth $644,000 after buying an additional 8,080 shares during the period. Banque Cantonale Vaudoise purchased a new position in nVent Electric in the 1st quarter worth about $115,000. Finally, GSA Capital Partners LLP increased its stake in nVent Electric by 464.7% in the 1st quarter. GSA Capital Partners LLP now owns 42,181 shares of the company's stock worth $2,211,000 after buying an additional 34,711 shares during the period. Hedge funds and other institutional investors own 90.05% of the company's stock.

nVent Electric Price Performance

NYSE NVT traded down $0.01 on Thursday, hitting $90.24. The company had a trading volume of 114,782 shares, compared to its average volume of 2,201,326. nVent Electric PLC has a 12-month low of $41.71 and a 12-month high of $91.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.67 and a quick ratio of 1.20. The company's fifty day moving average price is $73.45 and its 200-day moving average price is $64.35. The company has a market capitalization of $14.52 billion, a PE ratio of 25.70, a PEG ratio of 1.54 and a beta of 1.35.

nVent Electric (NYSE:NVT - Get Free Report) last announced its earnings results on Friday, August 1st. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.07. The company had revenue of $963.10 million for the quarter, compared to analysts' expectations of $906.96 million. nVent Electric had a net margin of 17.72% and a return on equity of 13.36%. The firm's quarterly revenue was up 30.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.82 EPS. As a group, analysts predict that nVent Electric PLC will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Saturday, January 1st were paid a dividend of $0.20 per share. The ex-dividend date was Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. nVent Electric's dividend payout ratio is 22.79%.

Insider Activity at nVent Electric

In other nVent Electric news, insider Sara E. Zawoyski sold 22,109 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $89.54, for a total transaction of $1,979,639.86. Following the sale, the insider directly owned 66,640 shares in the company, valued at $5,966,945.60. This represents a 24.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Der Kolk Robert J. Van sold 10,993 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $89.14, for a total transaction of $979,916.02. Following the sale, the insider owned 40,772 shares in the company, valued at $3,634,416.08. This trade represents a 21.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,246 shares of company stock valued at $17,115,842. 1.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on NVT. Barclays reaffirmed an "overweight" rating on shares of nVent Electric in a research note on Monday. The Goldman Sachs Group raised their target price on shares of nVent Electric from $78.00 to $87.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Roth Capital reissued a "buy" rating and set a $100.00 target price (up previously from $89.00) on shares of nVent Electric in a research report on Monday. KeyCorp raised their target price on shares of nVent Electric from $78.00 to $84.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Finally, Wall Street Zen raised shares of nVent Electric from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $87.00.

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.