Mediolanum International Funds Ltd purchased a new position in shares of nVent Electric PLC (NYSE:NVT - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 82,799 shares of the company's stock, valued at approximately $9,336,000. Mediolanum International Funds Ltd owned approximately 0.05% of nVent Electric at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC lifted its stake in shares of nVent Electric by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 3,125,289 shares of the company's stock worth $318,752,000 after purchasing an additional 217,485 shares during the period. Price T Rowe Associates Inc. MD increased its stake in nVent Electric by 361.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,577,555 shares of the company's stock valued at $262,835,000 after purchasing an additional 2,019,483 shares during the last quarter. Norges Bank acquired a new position in nVent Electric in the fourth quarter valued at $245,955,000. Bank of New York Mellon Corp lifted its position in nVent Electric by 3.5% during the first quarter. Bank of New York Mellon Corp now owns 2,018,579 shares of the company's stock worth $238,758,000 after buying an additional 68,818 shares during the period. Finally, Merewether Investment Management LP boosted its stake in nVent Electric by 59.2% in the 3rd quarter. Merewether Investment Management LP now owns 1,699,674 shares of the company's stock worth $167,656,000 after buying an additional 631,800 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.
Insider Buying and Selling at nVent Electric
In other news, EVP Aravind Padmanabhan sold 15,942 shares of nVent Electric stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $174.00, for a total transaction of $2,773,908.00. Following the sale, the executive vice president owned 23,243 shares of the company's stock, valued at approximately $4,044,282. The trade was a 40.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Martha Claire Bennett sold 3,778 shares of nVent Electric stock in a transaction on Monday, May 11th. The shares were sold at an average price of $170.00, for a total value of $642,260.00. Following the sale, the chief marketing officer directly owned 225 shares in the company, valued at $38,250. The trade was a 94.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 87,685 shares of company stock worth $14,961,768. Corporate insiders own 1.70% of the company's stock.
nVent Electric Stock Performance
NYSE:NVT opened at $154.88 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.70 and a quick ratio of 1.21. The firm has a 50-day moving average of $165.24 and a two-hundred day moving average of $135.92. The stock has a market cap of $25.05 billion, a P/E ratio of 51.45, a PEG ratio of 1.46 and a beta of 1.36. nVent Electric PLC has a 1-year low of $73.05 and a 1-year high of $184.64.
nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The company reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.94 by $0.15. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.11 billion. nVent Electric had a net margin of 11.37% and a return on equity of 16.82%. The business's quarterly revenue was up 53.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 earnings per share. nVent Electric has set its Q2 2026 guidance at 1.120-1.150 EPS and its FY 2026 guidance at 4.450-4.550 EPS. On average, research analysts expect that nVent Electric PLC will post 4.56 earnings per share for the current fiscal year.
nVent Electric declared that its board has initiated a stock repurchase plan on Saturday, May 16th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.
nVent Electric Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a $0.84 annualized dividend and a dividend yield of 0.5%. nVent Electric's dividend payout ratio is 27.91%.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the stock. Wolfe Research reiterated an "outperform" rating and set a $191.00 price objective on shares of nVent Electric in a report on Thursday, July 9th. KeyCorp upped their price target on shares of nVent Electric from $140.00 to $185.00 and gave the stock an "overweight" rating in a research report on Monday, May 4th. Wall Street Zen upgraded shares of nVent Electric from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 21st. Sanford C. Bernstein set a $220.00 price objective on nVent Electric in a report on Thursday, July 9th. Finally, Citigroup increased their target price on nVent Electric from $152.00 to $187.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Four investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $190.57.
Check Out Our Latest Report on nVent Electric
About nVent Electric
(
Free Report)
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.
Further Reading
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