Qsemble Capital Management LP acquired a new stake in shares of nVent Electric PLC (NYSE:NVT – Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 38,596 shares of the company’s stock, valued at approximately $3,936,000.
A number of other institutional investors have also made changes to their positions in the business. Annex Advisory Services LLC raised its holdings in shares of nVent Electric by 3.0% in the fourth quarter. Annex Advisory Services LLC now owns 3,243 shares of the company’s stock valued at $331,000 after buying an additional 94 shares during the last quarter. NewEdge Wealth LLC raised its holdings in shares of nVent Electric by 3.7% in the fourth quarter. NewEdge Wealth LLC now owns 2,620 shares of the company’s stock valued at $267,000 after buying an additional 94 shares during the last quarter. CI Investments Inc. raised its holdings in shares of nVent Electric by 15.6% in the third quarter. CI Investments Inc. now owns 712 shares of the company’s stock valued at $70,000 after buying an additional 96 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC raised its holdings in shares of nVent Electric by 0.9% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 10,694 shares of the company’s stock valued at $1,055,000 after buying an additional 98 shares during the last quarter. Finally, NorthRock Partners LLC raised its holdings in shares of nVent Electric by 1.9% in the third quarter. NorthRock Partners LLC now owns 5,620 shares of the company’s stock valued at $554,000 after buying an additional 104 shares during the last quarter. 90.05% of the stock is owned by institutional investors.
nVent Electric Price Performance
Shares of NVT stock opened at $169.10 on Friday. The stock has a 50-day moving average price of $132.66 and a 200 day moving average price of $117.24. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 0.41. The firm has a market cap of $27.35 billion, a price-to-earnings ratio of 56.18, a PEG ratio of 1.65 and a beta of 1.32. nVent Electric PLC has a 12 month low of $63.15 and a 12 month high of $175.00.
nVent Electric Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 24th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Friday, April 24th. nVent Electric’s dividend payout ratio (DPR) is presently 27.91%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the stock. Royal Bank Of Canada upped their target price on shares of nVent Electric from $151.00 to $180.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. UBS Group increased their price target on shares of nVent Electric from $164.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Roth Mkm reissued a “buy” rating and set a $185.00 price target on shares of nVent Electric in a research note on Monday, May 4th. Glj Research started coverage on shares of nVent Electric in a research note on Thursday, March 5th. They set a “buy” rating and a $151.00 price target on the stock. Finally, Barclays increased their price target on shares of nVent Electric from $150.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $184.20.
Read Our Latest Research Report on nVent Electric
Insider Transactions at nVent Electric
In related news, CAO Randolph A. Wacker sold 4,094 shares of nVent Electric stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $165.57, for a total value of $677,843.58. Following the completion of the sale, the chief accounting officer directly owned 49,873 shares in the company, valued at $8,257,472.61. This trade represents a 7.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Aravind Padmanabhan sold 15,942 shares of nVent Electric stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $174.00, for a total value of $2,773,908.00. Following the completion of the sale, the executive vice president owned 23,243 shares of the company’s stock, valued at approximately $4,044,282. The trade was a 40.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 87,685 shares of company stock valued at $14,961,768. 1.70% of the stock is currently owned by insiders.
nVent Electric Company Profile
nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.
The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.
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