Interval Partners LP Boosts Stock Position in nVent Electric plc (NYSE:NVT)

Interval Partners LP boosted its stake in nVent Electric plc (NYSE:NVT - Free Report) by 7.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 716,672 shares of the company's stock after acquiring an additional 46,918 shares during the quarter. nVent Electric accounts for about 1.0% of Interval Partners LP's portfolio, making the stock its 27th biggest holding. Interval Partners LP owned 0.43% of nVent Electric worth $48,848,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. purchased a new position in shares of nVent Electric in the fourth quarter valued at approximately $1,520,000. TT International Asset Management LTD lifted its holdings in nVent Electric by 20.4% in the 4th quarter. TT International Asset Management LTD now owns 108,395 shares of the company's stock valued at $7,388,000 after purchasing an additional 18,376 shares in the last quarter. Pacer Advisors Inc. boosted its stake in nVent Electric by 12.4% during the 4th quarter. Pacer Advisors Inc. now owns 55,790 shares of the company's stock worth $3,803,000 after purchasing an additional 6,175 shares during the last quarter. LPL Financial LLC boosted its stake in nVent Electric by 12.6% during the 4th quarter. LPL Financial LLC now owns 140,043 shares of the company's stock worth $9,545,000 after purchasing an additional 15,685 shares during the last quarter. Finally, Oak Thistle LLC purchased a new stake in shares of nVent Electric during the fourth quarter worth $1,009,000. Hedge funds and other institutional investors own 90.05% of the company's stock.

nVent Electric Trading Up 1.0%

NVT stock traded up $0.69 during trading on Friday, reaching $67.54. 1,626,964 shares of the stock were exchanged, compared to its average volume of 1,938,456. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $11.12 billion, a price-to-earnings ratio of 34.46, a P/E/G ratio of 1.48 and a beta of 1.24. The business has a 50 day moving average price of $54.85 and a 200-day moving average price of $64.75. nVent Electric plc has a 1 year low of $41.71 and a 1 year high of $86.57.

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

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.18%. nVent Electric's dividend payout ratio is currently 22.86%.

Insider Activity

In other nVent Electric 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 transaction of $247,915.35. Following the completion of the sale, the executive vice president now directly owns 32,665 shares in the company, valued at $2,003,997.75. This trade represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada boosted their price target on shares of nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. The Goldman Sachs Group decreased their target price 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. Seaport Res Ptn upgraded nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. Barclays increased their price target on nVent Electric from $65.00 to $70.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Finally, CL King raised nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective on the stock in a research note on Monday, March 17th. 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.com, the company has an average rating of "Buy" and a consensus price target 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.