Oak Thistle LLC Purchases Shares of 14,810 nVent Electric plc (NYSE:NVT)

Oak Thistle LLC acquired a new position in nVent Electric plc (NYSE:NVT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,810 shares of the company’s stock, valued at approximately $1,009,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in NVT. Geode Capital Management LLC boosted its holdings in nVent Electric by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after buying an additional 29,794 shares in the last quarter. Nordea Investment Management AB increased its holdings in nVent Electric by 16.9% in the fourth quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock valued at $6,378,000 after buying an additional 13,483 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of nVent Electric in the fourth quarter worth about $1,520,000. LVM Capital Management Ltd. MI boosted its stake in shares of nVent Electric by 8.1% during the 4th quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock worth $10,307,000 after acquiring an additional 11,349 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of nVent Electric by 101.2% during the 2nd quarter. AQR Capital Management LLC now owns 358,757 shares of the company’s stock valued at $27,484,000 after acquiring an additional 180,488 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

Insider Buying and Selling

In related news, EVP Jon D. Lammers sold 67,297 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total value of $5,119,282.79. Following the completion of the sale, the executive vice president now owns 58,121 shares of the company’s stock, valued at approximately $4,421,264.47. This trade represents a 53.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jerry W. Burris sold 6,558 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the transaction, the director now directly owns 45,040 shares in the company, valued at $3,603,200. This trade represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,382 shares of company stock worth $7,365,956. 2.50% of the stock is owned by insiders.

nVent Electric Price Performance

NYSE:NVT opened at $70.21 on Thursday. The firm has a market cap of $11.57 billion, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 3.86 and a beta of 1.27. The stock has a 50 day moving average of $73.55 and a two-hundred day moving average of $71.27. nVent Electric plc has a 12 month low of $55.19 and a 12 month high of $86.57. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.18). The firm had revenue of $782.00 million for the quarter, compared to analysts’ expectations of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.84 earnings per share. On average, analysts expect that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be paid a $0.20 dividend. This is an increase from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Friday, January 17th. nVent Electric’s dividend payout ratio (DPR) is currently 23.46%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NVT. KeyCorp upped their price target 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 boosted their price objective on nVent Electric from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Citigroup reduced their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday. Finally, Barclays lifted their price target on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, nVent Electric has an average rating of “Buy” and an average price target of $86.17.

nVent Electric Company 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.