Nomura Holdings Inc. Invests $1.62 Million in nVent Electric plc (NYSE:NVT)

Nomura Holdings Inc. acquired a new stake in shares of nVent Electric plc (NYSE:NVT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 23,725 shares of the company's stock, valued at approximately $1,617,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. NorthRock Partners LLC boosted its holdings in shares of nVent Electric by 27.2% in the 4th quarter. NorthRock Partners LLC now owns 6,350 shares of the company's stock valued at $433,000 after buying an additional 1,359 shares in the last quarter. Occudo Quantitative Strategies LP bought a new position in shares of nVent Electric during the 4th quarter worth approximately $313,000. Needham Investment Management LLC lifted its position in nVent Electric by 4.9% during the fourth quarter. Needham Investment Management LLC now owns 160,000 shares of the company's stock valued at $10,906,000 after acquiring an additional 7,500 shares during the last quarter. Millennium Management LLC boosted its stake in nVent Electric by 743.7% in the fourth quarter. Millennium Management LLC now owns 2,215,624 shares of the company's stock valued at $151,017,000 after acquiring an additional 1,953,026 shares in the last quarter. Finally, Moore Capital Management LP acquired a new stake in nVent Electric in the fourth quarter valued at approximately $8,065,000. Hedge funds and other institutional investors own 90.05% of the company's stock.

Insiders Place Their Bets

In other news, EVP Lynnette R. Heath sold 4,041 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $61.35, for a total value of $247,915.35. Following the sale, the executive vice president now owns 32,665 shares in the company, valued at $2,003,997.75. This represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is currently owned by insiders.

nVent Electric Stock Performance

Shares of NYSE NVT traded down $0.04 during mid-day trading on Friday, hitting $64.80. The stock had a trading volume of 285,574 shares, compared to its average volume of 1,933,923. The firm has a market cap of $10.67 billion, a PE ratio of 33.10, a PEG ratio of 1.48 and a beta of 1.24. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The company has a 50 day moving average of $55.86 and a two-hundred day moving average of $64.53. nVent Electric plc has a twelve month low of $41.71 and a twelve month high of $86.57.

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

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Friday, July 18th. nVent Electric's dividend payout ratio is presently 22.86%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NVT shares. Royal Bank of Canada upped their price target on nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Citigroup reduced their target price on nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Seaport Res Ptn upgraded nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. KeyCorp boosted their price target on nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Finally, 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 report on Monday, March 17th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, nVent Electric has a consensus rating of "Buy" and an average target price of $70.00.

nVent Electric Company 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.