Thematics Asset Management Purchases 90,000 Shares of nVent Electric plc (NYSE:NVT)

Thematics Asset Management boosted its holdings in nVent Electric plc (NYSE:NVT) by 11.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 864,708 shares of the company’s stock after buying an additional 90,000 shares during the period. nVent Electric makes up about 2.4% of Thematics Asset Management’s investment portfolio, making the stock its 4th largest position. Thematics Asset Management’s holdings in nVent Electric were worth $60,754,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NVT. Federated Hermes Inc. lifted its position in nVent Electric by 6.6% during the 2nd quarter. Federated Hermes Inc. now owns 410,902 shares of the company’s stock worth $31,479,000 after acquiring an additional 25,482 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of nVent Electric by 18.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 306,319 shares of the company’s stock valued at $23,099,000 after purchasing an additional 46,748 shares during the period. Cetera Investment Advisers increased its stake in nVent Electric by 143.8% during the 1st quarter. Cetera Investment Advisers now owns 46,103 shares of the company’s stock worth $3,476,000 after buying an additional 27,196 shares during the period. Gateway Investment Advisers LLC acquired a new position in nVent Electric in the 2nd quarter worth $1,608,000. Finally, Virtu Financial LLC purchased a new position in nVent Electric in the 1st quarter valued at about $1,125,000. 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 firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total value of $1,113,403.80. Following the sale, the chief financial officer now directly owns 62,215 shares in the company, valued at approximately $4,775,623.40. This trade represents a 18.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Randolph A. Wacker sold 8,022 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the transaction, the chief accounting officer now owns 25,993 shares of the company’s stock, valued at $1,972,088.91. This represents a 23.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,824 shares of company stock worth $6,841,316 over the last ninety days. Company insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Royal Bank of Canada cut their price target on nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. KeyCorp increased their target price on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Barclays dropped their price target on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $85.33.

nVent Electric Stock Performance

Shares of NYSE NVT traded down $0.03 during trading on Tuesday, reaching $78.31. The stock had a trading volume of 101,632 shares, compared to its average volume of 1,584,458. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. The stock has a market cap of $12.91 billion, a PE ratio of 22.99, a P/E/G ratio of 4.03 and a beta of 1.26. nVent Electric plc has a one year low of $52.26 and a one year high of $86.57. The firm’s 50 day moving average price is $72.88 and its two-hundred day moving average price is $73.20.

nVent Electric (NYSE:NVT) last released its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share 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 for the quarter, compared to the consensus estimate of $937.37 million. During the same quarter in the previous year, the firm earned $0.84 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, research analysts forecast that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 annualized dividend and a yield of 0.97%. nVent Electric’s dividend payout ratio (DPR) is 22.29%.

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.