Running Oak Capital LLC Lowers Stake in nVent Electric PLC $NVT

Key Points

• Running Oak Capital LLC cut its stake in nVent Electric by 15.7% in Q4, selling 31,945 shares to hold 171,194 shares (about $17.46M), making nVent its 5th largest position at ~2.2% of the fund.
• nVent beat estimates with $0.90 EPS vs $0.89 expected and revenue of $1.07B (up 41.9% YoY), and analysts are broadly positive with an average price target near $139.63 (10 Buys, 1 Hold).
• Insiders have sold 17,841 shares (~$2.05M) in the past 90 days (insiders now own 1.70%), while the company pays a modest quarterly dividend of $0.21 (annualized yield ~0.6%).

Running Oak Capital LLC lowered its holdings in nVent Electric PLC (NYSE:NVT - Free Report) by 15.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 171,194 shares of the company's stock after selling 31,945 shares during the quarter. nVent Electric accounts for about 2.2% of Running Oak Capital LLC's investment portfolio, making the stock its 5th biggest position. Running Oak Capital LLC owned about 0.11% of nVent Electric worth $17,457,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. CI Investments Inc. increased its stake in nVent Electric by 15.6% in the third quarter. CI Investments Inc. now owns 712 shares of the company's stock valued at $70,000 after acquiring an additional 96 shares during the period. Laird Norton Wetherby Wealth Management LLC increased its stake in nVent Electric by 0.9% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 10,694 shares of the company's stock valued at $1,055,000 after acquiring an additional 98 shares during the period. BCS Private Wealth Management Inc. increased its stake in nVent Electric by 1.5% in the third quarter. BCS Private Wealth Management Inc. now owns 6,631 shares of the company's stock valued at $654,000 after acquiring an additional 100 shares during the period. NorthRock Partners LLC increased its stake in nVent Electric by 1.9% in the third quarter. NorthRock Partners LLC now owns 5,620 shares of the company's stock valued at $554,000 after acquiring an additional 104 shares during the period. Finally, Fulton Bank N.A. increased its stake in nVent Electric by 1.1% in the third quarter. Fulton Bank N.A. now owns 10,242 shares of the company's stock valued at $1,010,000 after acquiring an additional 111 shares during the period. Institutional investors own 90.05% of the company's stock.

nVent Electric Stock Performance

NYSE NVT opened at $130.54 on Monday. The firm has a market cap of $21.11 billion, a price-to-earnings ratio of 30.36, a PEG ratio of 1.36 and a beta of 1.28. The company has a 50 day moving average of $116.65 and a 200-day moving average of $109.00. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.41. nVent Electric PLC has a 1-year low of $47.76 and a 1-year high of $131.84.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings data on Saturday, February 7th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1 billion. nVent Electric had a net margin of 18.25% and a return on equity of 15.18%. The company's revenue was up 41.9% on a year-over-year basis. During the same quarter last year, the business posted $0.59 earnings per share. On average, equities analysts forecast that nVent Electric PLC will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Friday, April 24th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, April 24th. This represents a $0.84 annualized dividend and a dividend yield of 0.6%. nVent Electric's dividend payout ratio (DPR) is presently 19.53%.

Insider Transactions at nVent Electric

In other news, Director Susan M. Cameron sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $114.52, for a total transaction of $572,600.00. Following the sale, the director directly owned 13,405 shares of the company's stock, valued at $1,535,140.60. This represents a 27.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jerry W. Burris sold 5,244 shares of the firm's stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $112.27, for a total transaction of $588,743.88. Following the completion of the sale, the director directly owned 46,371 shares of the company's stock, valued at approximately $5,206,072.17. This represents a 10.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 17,841 shares of company stock valued at $2,046,166. Corporate insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on NVT shares. KeyCorp upped their target price on shares of nVent Electric from $125.00 to $130.00 and gave the company an "overweight" rating in a research note on Monday, February 9th. Wolfe Research raised shares of nVent Electric to an "outperform" rating in a research note on Monday, February 9th. UBS Group reissued a "buy" rating and issued a $135.00 target price on shares of nVent Electric in a research note on Friday, March 13th. Glj Research started coverage on shares of nVent Electric in a research note on Thursday, March 5th. They issued a "buy" rating and a $151.00 target price on the stock. Finally, Zacks Research cut shares of nVent Electric from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 6th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $139.63.

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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