Nuveen LLC Acquires Shares of 4,380,286 nVent Electric PLC (NYSE:NVT)

Key Points

• Nuveen LLC invested approximately $229.62 million in nVent Electric PLC, acquiring 4,380,286 shares and representing 2.66% of the company's stock.
• In the last quarter, institutional investors have significantly increased their stakes in nVent Electric, with 90.05% of the stock now owned by hedge funds and other institutional investors.
• nVent Electric announced a quarterly dividend of $0.20 per share, which translates to an annualized dividend yield of 0.9% and a payout ratio of 22.79%.

Nuveen LLC purchased a new stake in nVent Electric PLC (NYSE:NVT - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 4,380,286 shares of the company's stock, valued at approximately $229,615,000. Nuveen LLC owned about 2.66% of nVent Electric at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC acquired a new stake in nVent Electric in the 4th quarter valued at $27,000. Park Square Financial Group LLC acquired a new stake in nVent Electric in the 4th quarter valued at $38,000. Whipplewood Advisors LLC increased its stake in shares of nVent Electric by 467.3% during the 1st quarter. Whipplewood Advisors LLC now owns 607 shares of the company's stock worth $32,000 after purchasing an additional 500 shares during the last quarter. Hughes Financial Services LLC acquired a new position in shares of nVent Electric during the 1st quarter worth about $36,000. Finally, First Horizon Advisors Inc. increased its stake in shares of nVent Electric by 58.0% during the 1st quarter. First Horizon Advisors Inc. now owns 817 shares of the company's stock worth $43,000 after purchasing an additional 300 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

nVent Electric Stock Performance

NVT traded down $1.18 on Friday, reaching $88.62. The company had a trading volume of 352,651 shares, compared to its average volume of 2,192,246. nVent Electric PLC has a fifty-two week low of $41.71 and a fifty-two week high of $92.75. The stock has a market cap of $14.26 billion, a P/E ratio of 25.25, a P/E/G ratio of 1.56 and a beta of 1.35. The company's fifty day moving average is $76.79 and its 200 day moving average is $65.23. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.20 and a current ratio of 1.67.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings results 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 net margin of 17.72% and a return on equity of 13.36%. The business had revenue of $963.10 million for the quarter, compared to analyst estimates of $906.96 million. During the same quarter in the prior year, the business earned $0.82 EPS. nVent Electric's quarterly revenue was up 30.1% on a year-over-year basis. As a group, analysts predict that nVent Electric PLC will post 3.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NVT. Royal Bank Of Canada restated an "outperform" rating and set a $102.00 price objective (up from $85.00) on shares of nVent Electric in a research note on Monday, August 4th. The Goldman Sachs Group boosted their price objective on shares of nVent Electric from $78.00 to $87.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Roth Capital restated a "buy" rating and set a $100.00 price objective (up from $89.00) on shares of nVent Electric in a research note on Monday, August 4th. KeyCorp boosted their price objective on shares of nVent Electric from $78.00 to $84.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Finally, Wall Street Zen upgraded shares of nVent Electric from a "hold" rating to a "buy" rating in a research note 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, nVent Electric currently has a consensus rating of "Buy" and an average price target of $87.00.

Insider Transactions at nVent Electric

In other nVent Electric news, CAO Randolph A. Wacker sold 3,000 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $89.09, for a total value of $267,270.00. Following the completion of the sale, the chief accounting officer owned 27,525 shares of the company's stock, valued at $2,452,202.25. The trade was a 9.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $89.14, for a total transaction of $979,916.02. Following the completion of the sale, the insider directly owned 40,772 shares of the company's stock, valued at $3,634,416.08. This represents a 21.24% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 218,780 shares of company stock worth $19,591,172. Company insiders own 1.80% of the company's stock.

About nVent Electric

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.