TABR Capital Management LLC Invests $3.28 Million in nVent Electric PLC $NVT

Key Points

• TABR Capital Management purchased a new stake of 32,201 shares in nVent (NYSE:NVT) valued at approximately $3.28 million during the fourth quarter.
• nVent recently beat quarterly estimates with EPS of $0.90 (vs. $0.89 expected) and revenue of $1.07B, up 41.9% year-over-year, with a market cap around $22.1B.
• Analysts are broadly positive (11 Buys, 1 Hold; average target ~$144), but insiders have sold about 17,841 shares (~$2.05M) in the past 90 days while institutional investors hold roughly 90% ownership.

TABR Capital Management LLC purchased a new stake in nVent Electric PLC (NYSE:NVT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 32,201 shares of the company's stock, valued at approximately $3,284,000.

Several other institutional investors and hedge funds also recently modified their holdings of NVT. Global Trust Asset Management LLC acquired a new position in nVent Electric during the 3rd quarter worth approximately $30,000. Root Financial Partners LLC bought a new stake in nVent Electric in the 3rd quarter valued at $31,000. Advisory Services Network LLC acquired a new stake in shares of nVent Electric during the 3rd quarter worth about $35,000. Headlands Technologies LLC lifted its position in nVent Electric by 522.9% during the second quarter. Headlands Technologies LLC now owns 517 shares of the company's stock worth $38,000 after acquiring an additional 434 shares during the last quarter. Finally, First Horizon Corp acquired a new stake in nVent Electric during the 3rd quarter worth approximately $41,000. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Price Performance

Shares of NYSE NVT opened at $136.81 on Wednesday. The firm's 50-day moving average price is $119.27 and its 200-day moving average price is $110.76. The firm has a market capitalization of $22.12 billion, a P/E ratio of 31.82, a P/E/G ratio of 1.41 and a beta of 1.28. 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 $49.01 and a 1-year high of $139.15.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings data on Saturday, February 7th. The company reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.01. The firm had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1 billion. nVent Electric had a return on equity of 15.18% and a net margin of 18.25%.The company's revenue for the quarter was up 41.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 earnings per share. Equities research analysts anticipate that nVent Electric PLC will post 4.15 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, April 24th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, April 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.6%. nVent Electric's payout ratio is 19.53%.

Analyst Ratings Changes

Several analysts have weighed in on NVT shares. Roth Mkm lifted their price objective on shares of nVent Electric from $130.00 to $135.00 and gave the stock a "buy" rating in a research note on Monday, March 23rd. UBS Group reissued a "buy" rating and set a $135.00 target price on shares of nVent Electric in a research note on Friday, March 13th. Barclays upped their price target on shares of nVent Electric from $141.00 to $150.00 and gave the stock an "overweight" rating in a report on Wednesday, April 1st. Weiss Ratings upgraded shares of nVent Electric from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, March 11th. Finally, Wolfe Research raised nVent Electric to an "outperform" rating in a research report on Monday, February 9th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $144.00.

Insider Activity at nVent Electric

In related news, Director Jerry W. Burris sold 5,244 shares of the company's stock in a transaction on Friday, February 6th. The stock was sold at an average price of $112.27, for a total transaction of $588,743.88. Following the completion of the sale, the director owned 46,371 shares in the company, valued at approximately $5,206,072.17. This represents a 10.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Beth Wozniak sold 7,597 shares of the company's stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $116.47, for a total transaction of $884,822.59. Following the completion of the sale, the chief executive officer owned 52,990 shares of the company's stock, valued at approximately $6,171,745.30. The trade was a 12.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 17,841 shares of company stock valued at $2,046,166 over the last 90 days. Insiders own 1.70% of the company's stock.

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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