nVent Electric plc (NYSE:NVT) Shares Bought by Temasek Holdings Private Ltd

Temasek Holdings Private Ltd increased its position in nVent Electric plc (NYSE:NVT) by 224.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 150,383 shares of the company’s stock after acquiring an additional 103,995 shares during the quarter. Temasek Holdings Private Ltd’s holdings in nVent Electric were worth $10,250,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Crews Bank & Trust acquired a new stake in nVent Electric in the fourth quarter valued at $26,000. Raleigh Capital Management Inc. increased its holdings in nVent Electric by 547.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock valued at $51,000 after acquiring an additional 635 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised 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 acquiring an additional 162 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of nVent Electric by 243.5% in the fourth quarter. Blue Trust Inc. now owns 869 shares of the company’s stock valued at $61,000 after purchasing an additional 616 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of nVent Electric in the fourth quarter valued at approximately $65,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at nVent Electric

In related news, EVP Lynnette R. Heath sold 4,041 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $61.35, for a total value of $247,915.35. Following the transaction, the executive vice president now owns 32,665 shares in the company, valued at approximately $2,003,997.75. This trade represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

NVT has been the subject of several research reports. KeyCorp lifted 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. Royal Bank of Canada lifted their price target on shares of nVent Electric from $73.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. CL King raised shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Monday, March 17th. The Goldman Sachs Group lowered their target price on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Finally, Citigroup reduced their price target on nVent Electric from $85.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $70.00.

nVent Electric Stock Up 1.0%

Shares of NVT opened at $67.54 on Friday. nVent Electric plc has a fifty-two week low of $41.71 and a fifty-two week high of $86.57. The company’s fifty day moving average is $55.10 and its two-hundred day moving average is $64.64. The firm has a market cap of $11.12 billion, a PE ratio of 34.46, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24. 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 (NYSE:NVT) last issued its earnings results on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.01. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. The business had revenue of $809.30 million for the quarter, compared to analyst estimates of $790.74 million. During the same period last year, the company posted $0.78 EPS. The business’s quarterly revenue was up 10.5% on a year-over-year basis. Analysts forecast that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.18%. nVent Electric’s dividend payout ratio is currently 22.86%.

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.