Rakuten Investment Management Inc. Makes New $1.70 Million Investment in nVent Electric PLC $NVT

Key Points

• Rakuten Investment Management disclosed a new third-quarter position of 10,515 nVent Electric shares, valued at approximately $1.7 million. Institutional investors collectively own about 90.05% of the stock.
• nVent reported quarterly EPS of $1.52, above the $1.40 consensus estimate, while revenue rose 43.7% year over year to $1.51 billion. Analysts’ consensus rating is “Buy,” with an average price target of $197.82.
• The company paid a quarterly dividend of $0.21 per share, equivalent to $0.84 annually and a 0.8% yield. An insider separately sold 5,858 shares in August.

Rakuten Investment Management Inc. purchased a new stake in shares of nVent Electric PLC (NYSE:NVT - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 10,515 shares of the company's stock, valued at approximately $1,700,000.

Other institutional investors also recently modified their holdings of the company. Livelsberger Financial Advisory bought a new stake in nVent Electric in the 3rd quarter worth about $28,000. Elevation Wealth Partners LLC raised its position in nVent Electric by 554.5% in the 2nd quarter. Elevation Wealth Partners LLC now owns 216 shares of the company's stock worth $37,000 after buying an additional 183 shares during the last quarter. Provenance Wealth Advisors LLC bought a new position in nVent Electric during the 3rd quarter valued at about $36,000. MCF Advisors LLC lifted its stake in nVent Electric by 236.1% during the 2nd quarter. MCF Advisors LLC now owns 242 shares of the company's stock valued at $41,000 after acquiring an additional 170 shares during the period. Finally, Financial Consulate Inc. boosted its holdings in shares of nVent Electric by 1,431.2% during the 2nd quarter. Financial Consulate Inc. now owns 245 shares of the company's stock valued at $42,000 after acquiring an additional 229 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NVT has been the subject of a number of research analyst reports. Citigroup reduced their price target on shares of nVent Electric from $228.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, November 2nd. Evercore restated an "outperform" rating and set a $210.00 price objective on shares of nVent Electric in a research report on Monday, August 3rd. Seaport Research Partners restated a "neutral" rating and set a $225.00 price objective on shares of nVent Electric in a research report on Monday, October 12th. Wells Fargo & Company raised their target price on shares of nVent Electric from $182.00 to $190.00 and gave the stock an "equal weight" rating in a report on Monday, November 2nd. Finally, Weiss Ratings downgraded shares of nVent Electric from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, October 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $197.82.

Insider Transactions at nVent Electric

In related news, insider Robert van der Kolk sold 5,858 shares of the business's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $164.32, for a total transaction of $962,586.56. Following the completion of the sale, the insider directly owned 27,387 shares in the company, valued at approximately $4,500,231.84. The trade was a 17.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.70% of the company's stock.

nVent Electric Trading Up 7.8%

Shares of NYSE:NVT opened at $106.10 on Friday. The stock's 50-day simple moving average is $148.90 and its two-hundred day simple moving average is $144.49. The stock has a market capitalization of $17.15 billion, a price-to-earnings ratio of 25.57, a PEG ratio of 0.54 and a beta of 1.39. nVent Electric PLC has a 52-week low of $93.22 and a 52-week high of $184.64. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.93 and a current ratio of 2.40.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings results on Friday, October 30th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.40 by $0.12. nVent Electric had a net margin of 12.84% and a return on equity of 20.82%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The business's revenue for the quarter was up 43.7% compared to the same quarter last year. Analysts expect that nVent Electric PLC will post 5.36 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 6th. Investors of record on Friday, October 23rd were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, October 23rd. nVent Electric's payout ratio is 20.24%.

About nVent Electric

nVent Electric plc designs and manufactures products and solutions that protect and connect electrical systems. Its offerings include electrical enclosures, cable management and fastening products, grounding and bonding solutions, and systems for managing heat in electrical and industrial applications.

The company serves customers across industries such as data centers, energy, infrastructure, commercial construction and manufacturing. Its products are marketed under brands including Hoffman, ERICO, CADDY, Raychem and Schroff, and it serves customers in markets around the world.

nVent became an independent, publicly traded company in 2018 after its separation from Pentair.

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