Mirae Asset Global Investments Co. Ltd. Makes New $10.69 Million Investment in nVent Electric PLC $NVT

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of nVent Electric PLC (NYSE:NVT) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 66,662 shares of the company’s stock, valued at approximately $10,691,000.

Other hedge funds have also recently modified their holdings of the company. Livelsberger Financial Advisory acquired a new position in shares of nVent Electric during the third quarter worth $28,000. Elevation Wealth Partners LLC raised its holdings in nVent Electric by 554.5% during the second quarter. Elevation Wealth Partners LLC now owns 216 shares of the company’s stock worth $37,000 after purchasing an additional 183 shares during the last quarter. MCF Advisors LLC increased its stake in nVent Electric by 236.1% in the second quarter. MCF Advisors LLC now owns 242 shares of the company’s stock valued at $41,000 after purchasing an additional 170 shares during the last quarter. Financial Consulate Inc. raised its holdings in nVent Electric by 1,431.2% in the second quarter. Financial Consulate Inc. now owns 245 shares of the company’s stock valued at $42,000 after buying an additional 229 shares during the period. Finally, Marquette Asset Management LLC increased its position in shares of nVent Electric by 531.9% during the third quarter. Marquette Asset Management LLC now owns 297 shares of the company’s stock worth $48,000 after acquiring an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

NVT has been the topic of a number of recent analyst reports. Wolfe Research restated an “outperform” rating and set a $191.00 price objective on shares of nVent Electric in a research note on Thursday, July 9th. Clear Str raised shares of nVent Electric to a “strong-buy” rating in a report on Monday, July 13th. Wall Street Zen cut nVent Electric from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 17th. JPMorgan Chase & Co. assumed coverage on shares of nVent Electric in a report on Tuesday, October 20th. They set an “overweight” rating and a $167.00 target price for the company. Finally, Roth Capital reissued a “buy” rating and issued a $200.00 price target on shares of nVent Electric in a research note on Wednesday, October 28th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $197.82.

nVent Electric Trading Down 13.2%

NVT opened at $112.18 on Thursday. The company has a quick ratio of 1.93, a current ratio of 2.40 and a debt-to-equity ratio of 0.53. The stock has a market cap of $18.13 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 0.65 and a beta of 1.39. The company has a fifty day moving average of $151.04 and a 200-day moving average of $144.58. nVent Electric PLC has a twelve month low of $93.22 and a twelve month high of $184.64.

nVent Electric (NYSE:NVT) last released its earnings results on Friday, October 30th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.12. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.43 billion. nVent Electric had a return on equity of 20.82% and a net margin of 12.84%. nVent Electric’s quarterly revenue was up 43.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. On average, sell-side analysts predict that nVent Electric PLC will post 5.36 EPS for the current year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 6th. Shareholders of record on Friday, October 23rd will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, October 23rd. nVent Electric’s dividend payout ratio is presently 20.24%.

Insider Transactions at nVent Electric

In other nVent Electric news, insider Robert van der Kolk sold 5,858 shares of nVent Electric stock in a transaction on Monday, August 10th. The shares were sold at an average price of $164.32, for a total transaction of $962,586.56. Following the completion of the transaction, the insider directly owned 27,387 shares of the company’s stock, valued at $4,500,231.84. The trade was a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is currently owned by insiders.

About nVent Electric

nVent Electric plc is a global provider of electrical connection, protection and management solutions. The company designs and manufactures products that help protect electrical and electronic systems, manage heat, and support the installation and operation of critical infrastructure.

Its products include electrical and electronic enclosures, industrial cooling and thermal-management systems, cable management and fastening solutions, grounding and bonding equipment, busway and power-distribution products, and related connection technologies.