Virginia Retirement Systems ET AL purchased a new position in shares of nVent Electric plc (NYSE:NVT – Get Rating) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,400 shares of the company’s stock, valued at approximately $466,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Clean Energy Transition LLP purchased a new stake in nVent Electric during the 4th quarter worth approximately $91,151,000. Commerce Bank boosted its holdings in nVent Electric by 18,270.5% in the fourth quarter. Commerce Bank now owns 1,239,088 shares of the company’s stock valued at $47,086,000 after purchasing an additional 1,232,343 shares during the period. Principal Financial Group Inc. Its stake grew in nVent Electric by 129.4% during the 4th quarter. Principal Financial Group Inc. now owns 1,863,397 shares of the company’s stock worth $69,318,000 after purchasing an additional 1,051,233 shares in the last quarter. Credit Suisse AG increased its holdings in nVent Electric by 571.9% during the 4th quarter. Credit Suisse AG now owns 1,065,202 shares of the company’s stock worth $40,478,000 after purchasing an additional 906,674 shares during the period. Finally, Woodline Partners LP acquired a new stake in nVent Electric in the 4th quarter valued at about $17,477,000. 88.44% of the stock is owned by institutional investors and hedge funds.
NVT stock opened at $31.35 on Friday. The stock has a market cap of $5.22 billion, a P/E ratio of 19.35 and a beta of 1.43. The company has a current ratio of 1.64, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41. nVent Electric plc has a twelve month low of $28.27 and a twelve month high of $39.53. The company’s 50 day moving average is $33.53 and its two-hundred day moving average is $34.57.
nVent Electric (NYSE:NVT – Get Rating) last announced its quarterly earnings results on Friday, April 29th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The firm had revenue of $694.70 million during the quarter, compared to analysts’ expectations of $627.83 million. nVent Electric had a net margin of 10.56% and a return on equity of 13.68%. nVent Electric’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.43 earnings per share. On average, equities research analysts predict that nVent Electric plc will post 2.22 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 5th. Shareholders of record on Friday, July 22nd will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Thursday, July 21st. nVent Electric’s dividend payout ratio is currently 43.21%.
Several brokerages recently weighed in on NVT. Barclays reduced their target price on shares of nVent Electric from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday. The Goldman Sachs Group reduced their objective price on shares of nVent Electric from $43.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, June 23rd. Five research analysts have rated the stock with a buy rating, according to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $41.60.
nVent Electric Company Profile (Get Rating)
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products worldwide. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to connect and protect critical electronics, communication, control, and power equipment; physical infrastructure solutions to host, connect, and protect server and network equipment; and indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals.
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