nVent Electric PLC (NYSE:NVT) Shares Bought by Clean Energy Transition LLP

Key Points

• Clean Energy Transition LLP increased its stake in nVent Electric PLC by 6.8%, now holding over 2.26 million shares, which accounts for approximately 14.7% of its total portfolio.
• Several analysts have raised their price targets for nVent Electric, with Roth Capital setting a new target of $100.00 and Royal Bank of Canada establishing a target of $102.00, all maintaining a "buy" or "outperform" rating.
• nVent Electric recently reported a quarterly earnings per share of $0.86, which exceeded analysts' expectations, alongside a revenue of $963.10 million, marking a year-over-year growth of 30.1%.

Clean Energy Transition LLP boosted its stake in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 6.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,260,068 shares of the company's stock after purchasing an additional 144,403 shares during the quarter. nVent Electric makes up approximately 14.7% of Clean Energy Transition LLP's holdings, making the stock its 2nd largest position. Clean Energy Transition LLP owned approximately 1.37% of nVent Electric worth $118,473,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NVT. Utah Retirement Systems raised its stake in shares of nVent Electric by 2.3% in the 4th quarter. Utah Retirement Systems now owns 8,923 shares of the company's stock worth $608,000 after buying an additional 200 shares in the last quarter. Davis R M Inc. grew its holdings in shares of nVent Electric by 4.0% during the first quarter. Davis R M Inc. now owns 5,200 shares of the company's stock valued at $273,000 after buying an additional 200 shares in the last quarter. Hancock Whitney Corp grew its stake in nVent Electric by 1.4% in the fourth quarter. Hancock Whitney Corp now owns 15,031 shares of the company's stock valued at $1,025,000 after purchasing an additional 206 shares in the last quarter. Portside Wealth Group LLC grew its stake in nVent Electric by 3.2% in the first quarter. Portside Wealth Group LLC now owns 7,152 shares of the company's stock valued at $375,000 after purchasing an additional 219 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in nVent Electric by 15.6% in the first quarter. Parallel Advisors LLC now owns 1,702 shares of the company's stock valued at $89,000 after purchasing an additional 230 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NVT. Roth Capital reiterated a "buy" rating and set a $100.00 price target (up previously from $89.00) on shares of nVent Electric in a research note on Monday, August 4th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $102.00 price target (up previously from $85.00) on shares of nVent Electric in a report on Monday, August 4th. Citigroup increased their target price on nVent Electric from $69.00 to $86.00 and gave the stock a "buy" rating in a report on Monday, July 14th. KeyCorp increased their target price on nVent Electric from $78.00 to $84.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Finally, The Goldman Sachs Group raised their price target on nVent Electric from $78.00 to $87.00 and gave the company a "buy" rating in a report on Monday, July 7th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, nVent Electric currently has an average rating of "Buy" and an average target price of $87.00.

nVent Electric Stock Performance

NVT stock opened at $88.57 on Friday. The business's fifty day moving average is $74.83 and its 200-day moving average is $64.66. The company has a quick ratio of 1.20, a current ratio of 1.67 and a debt-to-equity ratio of 0.50. The company has a market cap of $14.26 billion, a P/E ratio of 25.23, a price-to-earnings-growth ratio of 1.52 and a beta of 1.35. nVent Electric PLC has a twelve month low of $41.71 and a twelve month high of $91.55.

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

nVent Electric Announces Dividend

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

Insider Transactions at nVent Electric

In other nVent Electric news, insider Sara E. Zawoyski sold 22,109 shares of nVent Electric stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $89.54, for a total value of $1,979,639.86. Following the sale, the insider owned 66,640 shares of the company's stock, valued at $5,966,945.60. This trade represents a 24.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Randolph A. Wacker sold 3,000 shares of nVent Electric 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 directly owned 27,525 shares in the company, valued at $2,452,202.25. This represents a 9.83% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 194,246 shares of company stock worth $17,383,112. 1.80% of the stock is currently owned by company insiders.

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.

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