Temasek Holdings Private Ltd Buys 103,995 Shares of nVent Electric plc (NYSE:NVT)

Temasek Holdings Private Ltd raised its stake in nVent Electric plc (NYSE:NVT - Free Report) by 224.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 150,383 shares of the company's stock after buying an additional 103,995 shares during the period. Temasek Holdings Private Ltd owned approximately 0.09% of nVent Electric worth $10,250,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new stake in shares of nVent Electric in the fourth quarter valued at approximately $26,000. Raleigh Capital Management Inc. grew its position in shares of nVent Electric by 547.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 751 shares of the company's stock valued at $51,000 after purchasing an additional 635 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of nVent Electric by 26.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company's stock valued at $53,000 after purchasing an additional 162 shares during the last quarter. Blue Trust Inc. grew its position in shares of nVent Electric by 243.5% in the fourth quarter. Blue Trust Inc. now owns 869 shares of the company's stock valued at $61,000 after purchasing an additional 616 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in nVent Electric during the fourth quarter worth approximately $65,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Lynnette R. Heath sold 4,041 shares of nVent Electric stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $61.35, for a total value of $247,915.35. Following the completion of the transaction, the executive vice president now owns 32,665 shares of the company's stock, valued at $2,003,997.75. This trade represents a 11.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.80% of the company's stock.

nVent Electric Stock Down 3.2%

Shares of NVT traded down $2.13 during midday trading on Wednesday, hitting $63.98. The company had a trading volume of 1,529,577 shares, compared to its average volume of 1,939,064. nVent Electric plc has a 52 week low of $41.71 and a 52 week high of $86.57. The company's 50 day moving average price is $55.56 and its 200 day moving average price is $64.56. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The stock has a market cap of $10.53 billion, a price-to-earnings ratio of 32.64, a PEG ratio of 1.48 and a beta of 1.24.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. The business had revenue of $809.30 million for the quarter, compared to analyst estimates of $790.74 million. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. The firm's revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.78 earnings per share. On average, equities research analysts predict that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Friday, July 18th. nVent Electric's dividend payout ratio is 22.86%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NVT. Royal Bank of Canada lifted their price target on shares of nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a report on Monday, May 5th. The Goldman Sachs Group decreased their price target on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. KeyCorp lifted their price target on shares of nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a report on Monday, May 5th. CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price on the stock in a research note on Monday, March 17th. Finally, Seaport Res Ptn raised shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, nVent Electric presently has a consensus rating of "Buy" and an average target price of $70.00.

nVent Electric Profile

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.