Moore Capital Management LP Invests $8.07 Million in nVent Electric plc (NYSE:NVT)

Moore Capital Management LP purchased a new stake in nVent Electric plc (NYSE:NVT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 118,330 shares of the company's stock, valued at approximately $8,065,000. Moore Capital Management LP owned about 0.07% of nVent Electric as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Crews Bank & Trust acquired a new position in shares of nVent Electric in the 4th quarter valued at $26,000. Tsfg LLC acquired a new position in nVent Electric during the 4th quarter worth about $51,000. Raleigh Capital Management Inc. lifted its stake in nVent Electric by 547.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 751 shares of the company's stock worth $51,000 after acquiring an additional 635 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in nVent Electric by 26.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company's stock worth $53,000 after acquiring an additional 162 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in nVent Electric by 243.5% during the 4th quarter. Blue Trust Inc. now owns 869 shares of the company's stock worth $61,000 after acquiring an additional 616 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

Analyst Ratings Changes

NVT has been the topic of a number of analyst reports. CL King raised nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price target on the stock in a research report on Monday, March 17th. KeyCorp increased their price target on nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Seaport Res Ptn raised nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. Citigroup dropped their price objective on nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, The Goldman Sachs Group dropped their price objective on nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. 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 currently has a consensus rating of "Buy" and an average target price of $70.00.

Insider Activity at nVent Electric

In related news, EVP Lynnette R. Heath sold 4,041 shares of nVent Electric stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total transaction of $247,915.35. Following the completion of the transaction, the executive vice president now directly owns 32,665 shares of the company's stock, valued at approximately $2,003,997.75. The trade was a 11.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.80% of the company's stock.

nVent Electric Stock Performance

NYSE:NVT traded up $0.69 during mid-day trading on Friday, reaching $67.54. 1,626,964 shares of the stock were exchanged, compared to its average volume of 1,939,629. The company has a 50 day simple moving average of $55.10 and a 200-day simple moving average of $64.70. The stock has a market capitalization of $11.12 billion, a P/E ratio of 34.46, a P/E/G ratio of 1.48 and a beta of 1.24. nVent Electric plc has a 1 year low of $41.71 and a 1 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.

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

nVent Electric Dividend Announcement

The firm also recently declared 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 dividend yield of 1.18%. nVent Electric's dividend payout ratio (DPR) is presently 22.86%.

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.