Van ECK Associates Corp Makes New $2.50 Million Investment in nVent Electric plc (NYSE:NVT)

Van ECK Associates Corp acquired a new position in shares of nVent Electric plc (NYSE:NVT - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 42,317 shares of the company's stock, valued at approximately $2,501,000.

A number of other hedge funds have also made changes to their positions in NVT. Quent Capital LLC grew its position in nVent Electric by 123.2% in the fourth quarter. Quent Capital LLC now owns 424 shares of the company's stock valued at $25,000 after acquiring an additional 234 shares in the last quarter. HM Payson & Co. acquired a new stake in nVent Electric during the 3rd quarter valued at $26,000. Pacific Center for Financial Services purchased a new stake in nVent Electric during the 3rd quarter worth $32,000. Baystate Wealth Management LLC acquired a new position in nVent Electric in the 3rd quarter worth $33,000. Finally, Headlands Technologies LLC purchased a new position in nVent Electric in the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 90.05% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on NVT shares. The Goldman Sachs Group lifted their target price on nVent Electric from $77.00 to $87.00 and gave the stock a "buy" rating in a research report on Monday. Barclays increased their target price on nVent Electric from $74.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, April 2nd. Royal Bank of Canada dropped their price target on shares of nVent Electric from $89.00 to $88.00 and set an "outperform" rating for the company in a research note on Monday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of nVent Electric in a research note on Monday, March 11th. They set a "buy" rating and a $83.00 price objective on the stock. Finally, Citigroup lifted their price target on nVent Electric from $91.00 to $92.00 and gave the stock a "buy" rating in a research note on Monday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, nVent Electric currently has a consensus rating of "Moderate Buy" and a consensus price target of $87.00.

nVent Electric Stock Performance

Shares of nVent Electric stock traded up $2.31 on Wednesday, reaching $79.92. 2,056,371 shares of the company were exchanged, compared to its average volume of 1,341,217. The firm has a market cap of $13.26 billion, a price-to-earnings ratio of 22.62, a P/E/G ratio of 1.63 and a beta of 1.35. nVent Electric plc has a 1-year low of $40.22 and a 1-year high of $80.03. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.35 and a current ratio of 1.99. The company's 50-day moving average is $72.84 and its two-hundred day moving average is $62.39.

nVent Electric (NYSE:NVT - Get Free Report) last issued its earnings results on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.04. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The firm had revenue of $874.60 million for the quarter, compared to analyst estimates of $864.14 million. During the same period last year, the company earned $0.67 earnings per share. The firm's revenue for the quarter was up 18.0% on a year-over-year basis. As a group, research analysts expect that nVent Electric plc will post 3.25 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, April 25th. nVent Electric's payout ratio is 22.16%.

Insiders Place Their Bets

In related news, insider Michael B. Faulconer sold 10,961 shares of the firm's stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $67.33, for a total value of $738,004.13. Following the sale, the insider now directly owns 33,109 shares in the company, valued at approximately $2,229,228.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Jerry W. Burris sold 4,008 shares of the company's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $63.39, for a total value of $254,067.12. Following the completion of the sale, the director now directly owns 43,072 shares of the company's stock, valued at approximately $2,730,334.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael B. Faulconer sold 10,961 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $67.33, for a total transaction of $738,004.13. Following the completion of the transaction, the insider now owns 33,109 shares of the company's stock, valued at $2,229,228.97. The disclosure for this sale can be found here. In the last 90 days, insiders sold 397,752 shares of company stock worth $25,553,202. Insiders own 2.50% of the company's stock.

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.