Tidal Investments LLC Cuts Stake in nVent Electric plc (NYSE:NVT)

Tidal Investments LLC lowered its stake in nVent Electric plc (NYSE:NVT - Free Report) by 12.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,275 shares of the company's stock after selling 5,741 shares during the quarter. Tidal Investments LLC's holdings in nVent Electric were worth $2,745,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in NVT. Crews Bank & Trust bought a new position in nVent Electric in the 4th quarter valued at approximately $26,000. Raleigh Capital Management Inc. raised its holdings in nVent Electric by 547.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 751 shares of the company's stock valued at $51,000 after buying an additional 635 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in nVent Electric by 26.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company's stock valued at $53,000 after buying an additional 162 shares during the last quarter. Blue Trust Inc. raised its holdings in nVent Electric by 243.5% in the 4th quarter. Blue Trust Inc. now owns 869 shares of the company's stock valued at $61,000 after buying an additional 616 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in nVent Electric in the 4th quarter valued at approximately $65,000. Institutional investors own 90.05% of the company's stock.

Insider Activity at nVent Electric

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

nVent Electric Stock Up 2.3%

NYSE:NVT traded up $1.51 during trading hours on Tuesday, hitting $66.74. 332,311 shares of the company traded hands, compared to its average volume of 2,307,215. The company has a market cap of $10.99 billion, a PE ratio of 34.06, a PEG ratio of 1.48 and a beta of 1.24. nVent Electric plc has a one year low of $41.71 and a one year high of $86.57. 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 firm's 50-day simple moving average is $56.23 and its 200-day simple moving average is $64.24.

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

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors 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 yield of 1.20%. The ex-dividend date of this dividend is Friday, July 18th. nVent Electric's dividend payout ratio is currently 22.86%.

Analyst Ratings Changes

NVT has been the subject of a number of research reports. The Goldman Sachs Group dropped their price objective on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Seaport Res Ptn raised shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price for the company in a research report on Monday, March 17th. KeyCorp increased their target price on shares of nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Finally, Barclays increased their target price on shares of nVent Electric from $65.00 to $70.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $70.00.

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.