Lighthouse Investment Partners LLC Boosts Stake in nVent Electric plc (NYSE:NVT)

Lighthouse Investment Partners LLC lifted its holdings in nVent Electric plc (NYSE:NVT) by 6.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,425 shares of the company’s stock after buying an additional 2,425 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in nVent Electric were worth $2,687,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Crews Bank & Trust purchased a new stake in shares of nVent Electric in the fourth quarter valued at approximately $26,000. Tsfg LLC purchased a new stake in nVent Electric during the fourth quarter worth $51,000. Raleigh Capital Management Inc. boosted its position in nVent Electric by 547.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock worth $51,000 after purchasing an additional 635 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in nVent Electric by 26.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock worth $53,000 after purchasing an additional 162 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in nVent Electric by 243.5% during the fourth quarter. Blue Trust Inc. now owns 869 shares of the company’s stock worth $61,000 after purchasing an additional 616 shares in the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on NVT. The Goldman Sachs Group decreased their target price on nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. KeyCorp boosted their target price on nVent Electric from $60.00 to $72.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. CL King upgraded nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Monday, March 17th. Citigroup decreased their target price on nVent Electric from $85.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Royal Bank of Canada boosted their target price on nVent Electric from $73.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, May 5th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $70.00.

nVent Electric Stock Up 2.4%

Shares of NYSE:NVT opened at $68.16 on Wednesday. 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 plc has a 52-week low of $41.71 and a 52-week high of $86.57. The stock’s fifty day simple moving average is $54.32 and its 200-day simple moving average is $64.78. The company has a market capitalization of $11.22 billion, a P/E ratio of 34.78, a P/E/G ratio of 1.48 and a beta of 1.24.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. The business had revenue of $809.30 million for the quarter, compared to the consensus estimate of $790.74 million. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. The business’s revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.78 earnings per share. As a group, equities research analysts forecast that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 25th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, April 25th. This represents a $0.80 annualized dividend and a yield of 1.17%. nVent Electric’s payout ratio is currently 22.86%.

Insider Activity at nVent Electric

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