8,303 Shares in nVent Electric plc (NYSE:NVT) Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new position in shares of nVent Electric plc (NYSE:NVT) during the third quarter, HoldingsChannel reports. The firm purchased 8,303 shares of the company’s stock, valued at approximately $583,000.

Other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC raised its stake in nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after buying an additional 181 shares during the period. UMB Bank n.a. increased its holdings in nVent Electric by 280.0% during the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after purchasing an additional 308 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in nVent Electric during the 3rd quarter worth approximately $29,000. ORG Partners LLC bought a new stake in nVent Electric during the 2nd quarter worth approximately $31,000. Finally, First Foundation Advisors bought a new stake in nVent Electric during the 2nd quarter worth approximately $34,000. 90.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, CFO Sara E. Zawoyski sold 14,505 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the completion of the transaction, the chief financial officer now directly owns 62,215 shares of the company’s stock, valued at approximately $4,775,623.40. This represents a 18.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Randolph A. Wacker sold 8,022 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total value of $608,629.14. Following the completion of the transaction, the chief accounting officer now owns 25,993 shares of the company’s stock, valued at approximately $1,972,088.91. This represents a 23.58 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,382 shares of company stock valued at $7,365,956. Company insiders own 2.50% of the company’s stock.

nVent Electric Stock Performance

NVT stock opened at $75.03 on Friday. The firm has a market cap of $12.37 billion, a PE ratio of 22.00, a P/E/G ratio of 3.88 and a beta of 1.25. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The business has a 50 day moving average of $74.96 and a 200-day moving average of $72.71. nVent Electric plc has a 12-month low of $55.19 and a 12-month high of $86.57.

nVent Electric (NYSE:NVT) last released its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The business had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. During the same period in the prior year, the company earned $0.84 earnings per share. The business’s revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts expect that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.01%. The ex-dividend date was Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is 22.29%.

Wall Street Analyst Weigh In

A number of analysts have commented on NVT shares. Barclays boosted their price objective on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. KeyCorp boosted their price objective on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Royal Bank of Canada decreased their price objective on nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Finally, Citigroup upped their target price on nVent Electric from $78.00 to $91.00 and gave the company a “buy” rating in a report on Monday, December 9th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, nVent Electric presently has a consensus rating of “Buy” and an average price target of $85.50.

nVent Electric Profile

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.