nVent Electric PLC $NVT Shares Acquired by Quantinno Capital Management LP

Key Points

• Quantinno Capital Management increased its nVent Electric stake by 184.7% in the first quarter, purchasing 203,486 additional shares and bringing its holdings to 313,679 shares worth approximately $37.1 million.
• Analysts remain bullish, with nVent receiving a consensus “Buy” rating and an average price target of $190.57. The company also reported quarterly revenue growth of 53.5% year over year and earnings that exceeded expectations.
• nVent approved a $500 million share-repurchase program, covering up to 1.8% of outstanding shares, and declared a quarterly dividend of $0.21 per share.

Quantinno Capital Management LP increased its holdings in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 184.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 313,679 shares of the company's stock after buying an additional 203,486 shares during the period. Quantinno Capital Management LP owned about 0.19% of nVent Electric worth $37,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC lifted its holdings in nVent Electric by 128.1% during the fourth quarter. Manchester Capital Management LLC now owns 308 shares of the company's stock valued at $31,000 after purchasing an additional 173 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of nVent Electric during the fourth quarter worth about $32,000. Advisory Services Network LLC acquired a new position in shares of nVent Electric during the 3rd quarter worth about $35,000. Elyxium Wealth LLC acquired a new position in shares of nVent Electric during the 4th quarter worth about $36,000. Finally, Headlands Technologies LLC lifted its stake in nVent Electric by 522.9% in the 2nd quarter. Headlands Technologies LLC now owns 517 shares of the company's stock valued at $38,000 after buying an additional 434 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

Insider Transactions at nVent Electric

In related news, CMO Martha Claire Bennett sold 3,778 shares of the company's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $170.00, for a total value of $642,260.00. Following the completion of the sale, the chief marketing officer owned 225 shares of the company's stock, valued at approximately $38,250. This represents a 94.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Sara E. Zawoyski sold 29,412 shares of nVent Electric stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $172.49, for a total transaction of $5,073,275.88. Following the transaction, the insider directly owned 97,068 shares in the company, valued at $16,743,259.32. This trade represents a 23.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 87,685 shares of company stock valued at $14,961,768 in the last three months. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Citigroup lifted their price objective on nVent Electric from $152.00 to $187.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. KeyCorp increased their target price on nVent Electric from $140.00 to $185.00 and gave the company an "overweight" rating in a report on Monday, May 4th. Royal Bank Of Canada raised their target price on nVent Electric from $180.00 to $193.00 and gave the company an "outperform" rating in a research report on Thursday, July 16th. Evercore reaffirmed an "outperform" rating and issued a $190.00 price target on shares of nVent Electric in a research note on Monday, May 4th. Finally, The Goldman Sachs Group boosted their price target on nVent Electric from $150.00 to $187.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Four research 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 stock. Based on data from MarketBeat.com, nVent Electric presently has a consensus rating of "Buy" and a consensus price target of $190.57.

nVent Electric Stock Performance

NYSE NVT opened at $144.96 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.21 and a current ratio of 1.70. The stock's fifty day moving average is $162.22 and its two-hundred day moving average is $138.79. The firm has a market capitalization of $23.44 billion, a P/E ratio of 48.16, a price-to-earnings-growth ratio of 1.26 and a beta of 1.36. nVent Electric PLC has a fifty-two week low of $78.11 and a fifty-two week high of $184.64.

nVent Electric (NYSE:NVT - Get Free Report) last issued its earnings results on Friday, May 1st. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.94 by $0.15. nVent Electric had a return on equity of 16.82% and a net margin of 11.37%.The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the company earned $0.67 EPS. The company's revenue for the quarter was up 53.5% on a year-over-year basis. On average, research analysts anticipate that nVent Electric PLC will post 4.56 earnings per share for the current year.

nVent Electric declared that its board has approved a share repurchase plan on Saturday, May 16th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows 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 believes its stock is undervalued.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 24th will be given 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 0.6%. nVent Electric's payout ratio is presently 27.91%.

nVent Electric Profile

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.

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