Two Sigma Securities LLC Invests $320,000 in nVent Electric plc (NYSE:NVT)

Two Sigma Securities LLC purchased a new position in nVent Electric plc (NYSE:NVT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,696 shares of the company's stock, valued at approximately $320,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Franklin Resources Inc. grew its stake in shares of nVent Electric by 22.1% in the 3rd quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company's stock worth $527,374,000 after buying an additional 1,269,335 shares in the last quarter. Capital Research Global Investors purchased a new position in nVent Electric in the fourth quarter worth about $384,749,000. Norges Bank purchased a new position in nVent Electric in the fourth quarter worth about $197,434,000. William Blair Investment Management LLC raised its position in nVent Electric by 8.8% during the fourth quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company's stock valued at $176,630,000 after purchasing an additional 210,690 shares during the period. Finally, Principal Financial Group Inc. raised its position in nVent Electric by 1.7% during the third quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company's stock valued at $123,891,000 after purchasing an additional 28,876 shares during the period. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Trading Up 6.0 %

NVT stock traded up $3.41 during mid-day trading on Friday, reaching $59.80. The company had a trading volume of 3,383,920 shares, compared to its average volume of 1,915,984. The company has a market capitalization of $9.85 billion, a PE ratio of 30.51, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. The firm has a 50 day moving average of $53.63 and a 200 day moving average of $65.41. nVent Electric plc has a 12 month low of $41.71 and a 12 month high of $86.57. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28.

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

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Friday, April 25th. nVent Electric's dividend payout ratio (DPR) is presently 40.82%.

Analysts Set New Price Targets

A number of analysts recently issued reports on NVT shares. KeyCorp lowered their price target on nVent Electric from $75.00 to $60.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Barclays cut their price target on shares of nVent Electric from $70.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective for the company in a research note on Monday, March 17th. Royal Bank of Canada upped their target price on nVent Electric from $85.00 to $86.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Finally, The Goldman Sachs Group reduced their price target 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 company's stock. Based on data from MarketBeat.com, nVent Electric presently has a consensus rating of "Buy" and an average price target of $69.00.

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.