Interval Partners LP Acquires 46,918 Shares of nVent Electric plc (NYSE:NVT)

Interval Partners LP raised its stake in nVent Electric plc (NYSE:NVT - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 716,672 shares of the company's stock after purchasing an additional 46,918 shares during the period. nVent Electric accounts for approximately 1.0% of Interval Partners LP's investment portfolio, making the stock its 27th biggest position. Interval Partners LP owned approximately 0.43% of nVent Electric worth $48,848,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new position in shares of nVent Electric in the fourth quarter valued at $1,520,000. TT International Asset Management LTD grew its stake in shares of nVent Electric by 20.4% in the fourth quarter. TT International Asset Management LTD now owns 108,395 shares of the company's stock valued at $7,388,000 after acquiring an additional 18,376 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of nVent Electric by 12.4% in the fourth quarter. Pacer Advisors Inc. now owns 55,790 shares of the company's stock valued at $3,803,000 after acquiring an additional 6,175 shares in the last quarter. LPL Financial LLC grew its stake in shares of nVent Electric by 12.6% in the fourth quarter. LPL Financial LLC now owns 140,043 shares of the company's stock valued at $9,545,000 after acquiring an additional 15,685 shares in the last quarter. Finally, Oak Thistle LLC acquired a new position in shares of nVent Electric in the fourth quarter valued at about $1,009,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on NVT. Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. Citigroup decreased their price target on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. CL King upgraded shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price target on the stock in a research note on Monday, March 17th. 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 research note on Wednesday, April 2nd. Finally, Barclays upped their price target on shares of nVent Electric from $65.00 to $70.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, nVent Electric currently has a consensus rating of "Buy" and an average target price of $70.00.

nVent Electric Price Performance

NVT traded up $0.09 on Wednesday, hitting $68.19. 800,443 shares of the stock were exchanged, compared to its average volume of 1,926,391. nVent Electric plc has a 12 month low of $41.71 and a 12 month high of $86.57. The business has a 50-day moving average of $54.32 and a two-hundred day moving average of $64.78. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The firm has a market capitalization of $11.23 billion, a price-to-earnings ratio of 34.74, a PEG ratio of 1.48 and a beta of 1.24.

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

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, April 25th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.17%. nVent Electric's dividend payout ratio (DPR) is currently 22.86%.

Insider Transactions at nVent Electric

In other news, EVP Lynnette R. Heath sold 4,041 shares of the 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 approximately $2,003,997.75. This represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.80% of the company's stock.

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.