Diametric Capital LP lifted its stake in shares of nVent Electric plc (NYSE:NVT – Get Rating) by 104.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 139,460 shares of the company’s stock after acquiring an additional 71,315 shares during the period. nVent Electric makes up 4.1% of Diametric Capital LP’s investment portfolio, making the stock its 4th biggest position. Diametric Capital LP owned about 0.08% of nVent Electric worth $5,299,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of NVT. OLD Mission Capital LLC bought a new stake in shares of nVent Electric during the 3rd quarter worth $537,000. Morgan Stanley lifted its holdings in shares of nVent Electric by 124.6% during the 2nd quarter. Morgan Stanley now owns 351,308 shares of the company’s stock worth $10,976,000 after acquiring an additional 194,925 shares during the last quarter. Deutsche Bank AG lifted its stake in nVent Electric by 2.4% in the third quarter. Deutsche Bank AG now owns 17,666 shares of the company’s stock worth $571,000 after purchasing an additional 420 shares during the last quarter. Advisor Group Holdings Inc. lifted its stake in nVent Electric by 13.1% in the third quarter. Advisor Group Holdings Inc. now owns 32,423 shares of the company’s stock worth $1,050,000 after purchasing an additional 3,746 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new stake in nVent Electric in the third quarter worth $215,000. 88.44% of the stock is owned by institutional investors.
NVT has been the subject of several recent research reports. Barclays lowered their price target on shares of nVent Electric from $48.00 to $44.00 and set an “overweight” rating for the company in a research note on Tuesday. Zacks Investment Research upgraded shares of nVent Electric from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Saturday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, nVent Electric presently has an average rating of “Buy” and a consensus target price of $41.80.
nVent Electric (NYSE:NVT – Get Rating) last released its quarterly earnings data on Friday, April 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. nVent Electric had a net margin of 10.56% and a return on equity of 13.68%. The firm had revenue of $694.70 million for the quarter, compared to analysts’ expectations of $627.83 million. During the same quarter in the previous year, the company earned $0.43 earnings per share. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, equities research analysts forecast that nVent Electric plc will post 2.22 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 5th. Investors of record on Friday, July 22nd will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Thursday, July 21st. nVent Electric’s dividend payout ratio is currently 43.21%.
In related news, Director Ronald Merriman sold 3,947 shares of the business’s stock in a transaction dated Monday, March 28th. The shares were sold at an average price of $35.17, for a total transaction of $138,815.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.00% of the stock is owned by insiders.
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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