nVent Electric PLC (NYSE:NVT) Shares Acquired by XTX Topco Ltd

Key Points

• XTX Topco Ltd increased its position in nVent Electric PLC by 192.2%, acquiring an additional 8,080 shares to bring its total holdings to 12,284 shares, valued at $644,000.
• nVent Electric reported a strong quarterly earnings result with $0.86 earnings per share, exceeding the consensus estimate of $0.79 and posting a revenue of $963.1 million, up 30.1% from last year.
• The company declared a quarterly dividend of $0.20 per share, yielding 0.9% annually, with a low dividend payout ratio of 22.79%.

XTX Topco Ltd increased its position in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 192.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,284 shares of the company's stock after buying an additional 8,080 shares during the period. XTX Topco Ltd's holdings in nVent Electric were worth $644,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC boosted its position in nVent Electric by 11.6% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,273 shares of the company's stock worth $223,000 after purchasing an additional 341 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of nVent Electric by 28.0% during the 4th quarter. Russell Investments Group Ltd. now owns 111,092 shares of the company's stock valued at $7,572,000 after buying an additional 24,333 shares in the last quarter. Quadrant Capital Group LLC grew its stake in nVent Electric by 4.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company's stock valued at $259,000 after acquiring an additional 150 shares during the period. Invesco Ltd. increased its holdings in nVent Electric by 15.0% in the 4th quarter. Invesco Ltd. now owns 1,723,868 shares of the company's stock worth $117,499,000 after acquiring an additional 224,657 shares in the last quarter. Finally, FIL Ltd increased its holdings in nVent Electric by 232.6% in the 4th quarter. FIL Ltd now owns 597,190 shares of the company's stock worth $40,704,000 after acquiring an additional 417,649 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

nVent Electric Stock Down 0.6%

Shares of NYSE:NVT traded down $0.53 during trading hours on Friday, reaching $88.57. The stock had a trading volume of 2,276,661 shares, compared to its average volume of 2,216,520. The stock has a market capitalization of $14.26 billion, a price-to-earnings ratio of 25.23, a P/E/G ratio of 1.55 and a beta of 1.35. The firm's 50 day moving average is $74.38 and its 200-day moving average is $64.64. nVent Electric PLC has a 1 year low of $41.71 and a 1 year high of $91.55. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.20 and a current ratio of 1.67.

nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.07. nVent Electric had a net margin of 17.72% and a return on equity of 13.36%. The company had revenue of $963.10 million for the quarter, compared to the consensus estimate of $906.96 million. During the same period last year, the firm posted $0.82 EPS. nVent Electric's revenue for the quarter was up 30.1% on a year-over-year basis. Research analysts predict that nVent Electric PLC will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Saturday, January 1st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, July 18th. nVent Electric's dividend payout ratio (DPR) is 22.79%.

Insider Buying and Selling

In related news, Director Herbert K. Parker sold 20,597 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $89.88, for a total transaction of $1,851,258.36. Following the completion of the transaction, the director directly owned 15,070 shares of the company's stock, valued at $1,354,491.60. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Der Kolk Robert J. Van sold 10,993 shares of nVent Electric stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $89.14, for a total value of $979,916.02. Following the completion of the sale, the insider directly owned 40,772 shares in the company, valued at $3,634,416.08. This represents a 21.24% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,246 shares of company stock worth $17,115,842. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NVT has been the subject of a number of research reports. Roth Capital reissued a "buy" rating and set a $100.00 target price (up previously from $89.00) on shares of nVent Electric in a research note on Monday. Royal Bank Of Canada reiterated an "outperform" rating and set a $102.00 price objective (up from $85.00) on shares of nVent Electric in a research note on Monday. Citigroup raised their target price on nVent Electric from $69.00 to $86.00 and gave the company a "buy" rating in a research report on Monday, July 14th. KeyCorp lifted their price target on nVent Electric from $78.00 to $84.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Finally, Wall Street Zen upgraded nVent Electric from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $87.00.

nVent Electric Company 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.