Paradoxiom Capital L.P. Takes $6.39 Million Position in nVent Electric plc (NYSE:NVT)

Paradoxiom Capital L.P. bought a new position in shares of nVent Electric plc (NYSE:NVT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 93,737 shares of the company's stock, valued at approximately $6,389,000. nVent Electric accounts for approximately 2.6% of Paradoxiom Capital L.P.'s portfolio, making the stock its 19th largest holding. Paradoxiom Capital L.P. owned about 0.06% of nVent Electric as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of NVT. Pacer Advisors Inc. boosted its position in nVent Electric by 12.4% during the fourth 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 in the last quarter. LPL Financial LLC increased its stake in shares of nVent Electric by 12.6% in the 4th quarter. LPL Financial LLC now owns 140,043 shares of the company's stock worth $9,545,000 after acquiring an additional 15,685 shares during the last quarter. Oak Thistle LLC acquired a new stake in shares of nVent Electric in the 4th quarter worth $1,009,000. Mountain Pacific Investment Advisers LLC increased its stake in shares of nVent Electric by 14.9% in the 4th quarter. Mountain Pacific Investment Advisers LLC now owns 192,050 shares of the company's stock worth $13,090,000 after acquiring an additional 24,900 shares during the last quarter. Finally, Miracle Mile Advisors LLC acquired a new stake in shares of nVent Electric during the 4th quarter worth about $760,000. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Stock Down 0.8%

Shares of NVT traded down $0.55 during midday trading on Monday, reaching $67.02. 364,737 shares of the stock were exchanged, compared to its average volume of 1,934,726. nVent Electric plc has a 12-month low of $41.71 and a 12-month high of $86.57. The firm has a 50 day simple moving average of $55.10 and a 200-day simple moving average of $64.57. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The company has a market cap of $11.03 billion, a price-to-earnings ratio of 34.18, a P/E/G ratio of 1.48 and a beta of 1.24.

nVent Electric (NYSE:NVT - Get Free Report) last released its earnings results on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. The firm had revenue of $809.30 million for the quarter, compared to analyst estimates of $790.74 million. During the same quarter last year, the firm posted $0.78 EPS. The company's revenue was up 10.5% on a year-over-year basis. Research analysts forecast that nVent Electric plc will post 3.04 EPS for the current 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 issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.19%. nVent Electric's dividend payout ratio is 22.86%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NVT shares. Barclays raised their target price on nVent Electric from $65.00 to $70.00 and gave the company an "overweight" rating in a report on Monday, May 5th. The Goldman Sachs Group decreased their target price on nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Citigroup reduced their price objective on nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Seaport Res Ptn raised nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. Finally, Royal Bank of Canada upped their target price on nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $70.00.

Insider Activity at nVent Electric

In related news, EVP Lynnette R. Heath sold 4,041 shares of the firm's 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 sale, the executive vice president now directly owns 32,665 shares of the company's stock, valued at $2,003,997.75. This trade represents a 11.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.80% of the company's stock.

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.