3,717 Shares in nVent Electric plc (NYSE:NVT) Purchased by Wexford Capital LP

Wexford Capital LP bought a new position in shares of nVent Electric plc (NYSE:NVT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,717 shares of the company’s stock, valued at approximately $253,000.

A number of other hedge funds have also recently bought and sold shares of the company. Capital Research Global Investors acquired a new position in nVent Electric during the fourth quarter worth about $384,749,000. Norges Bank acquired a new position in shares of nVent Electric in the 4th quarter valued at $197,434,000. William Blair Investment Management LLC boosted its position in shares of nVent Electric by 8.8% in the 4th 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. Millennium Management LLC boosted its position in shares of nVent Electric by 743.7% in the 4th quarter. Millennium Management LLC now owns 2,215,624 shares of the company’s stock valued at $151,017,000 after purchasing an additional 1,953,026 shares during the period. Finally, Invesco Ltd. boosted its position in shares of nVent Electric by 15.0% in the 4th quarter. Invesco Ltd. now owns 1,723,868 shares of the company’s stock valued at $117,499,000 after purchasing an additional 224,657 shares during the period. 90.05% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at nVent Electric

In other news, EVP Lynnette R. Heath sold 4,041 shares of the firm’s stock in a transaction dated 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 Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.80% of the company’s stock.

nVent Electric Trading Down 1.5%

Shares of NYSE NVT opened at $66.56 on Tuesday. nVent Electric plc has a one year low of $41.71 and a one year high of $86.57. The firm has a market capitalization of $10.96 billion, a PE ratio of 33.96, a PEG ratio of 1.48 and a beta of 1.24. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The business has a 50-day moving average price of $55.32 and a two-hundred day moving average price of $64.55.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, topping 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 company had revenue of $809.30 million during the quarter, compared to the consensus estimate of $790.74 million. During the same period last year, the business earned $0.78 EPS. The business’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, analysts predict that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Friday, July 18th. nVent Electric’s dividend payout ratio (DPR) is presently 22.86%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NVT shares. The Goldman Sachs Group decreased their price target on nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Citigroup decreased their price target on nVent Electric from $85.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Barclays increased their price target on nVent Electric from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. KeyCorp raised their price objective on nVent Electric from $60.00 to $72.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Finally, Seaport Res Ptn upgraded nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $70.00.

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.