Truvestments Capital LLC Invests $86,000 in nVent Electric plc (NYSE:NVT)

Truvestments Capital LLC acquired a new position in nVent Electric plc (NYSE:NVT) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 1,229 shares of the company’s stock, valued at approximately $86,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Federated Hermes Inc. grew its position in nVent Electric by 6.6% in the 2nd quarter. Federated Hermes Inc. now owns 410,902 shares of the company’s stock worth $31,479,000 after purchasing an additional 25,482 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in nVent Electric by 18.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 306,319 shares of the company’s stock valued at $23,099,000 after acquiring an additional 46,748 shares during the period. Cetera Investment Advisers raised its holdings in nVent Electric by 143.8% in the 1st quarter. Cetera Investment Advisers now owns 46,103 shares of the company’s stock valued at $3,476,000 after acquiring an additional 27,196 shares in the last quarter. Gateway Investment Advisers LLC acquired a new position in shares of nVent Electric in the 2nd quarter valued at $1,608,000. Finally, Virtu Financial LLC acquired a new position in nVent Electric in the first quarter worth about $1,125,000. Institutional investors own 90.05% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jerry W. Burris sold 6,558 shares of the firm’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sara E. Zawoyski sold 14,505 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total value of $1,113,403.80. Following the completion of the sale, the chief financial officer now owns 62,215 shares of the company’s stock, valued at $4,775,623.40. This represents a 18.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 96,382 shares of company stock valued at $7,365,956. Company insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

NVT has been the topic of several analyst reports. KeyCorp upped their price objective on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Barclays dropped their price target on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada reduced their price objective 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. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $85.33.

nVent Electric Stock Down 0.4 %

NYSE:NVT opened at $78.01 on Wednesday. The company has a market cap of $12.86 billion, a price-to-earnings ratio of 22.88, a P/E/G ratio of 4.03 and a beta of 1.26. 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’s fifty day moving average price is $73.11 and its two-hundred day moving average price is $73.18. nVent Electric plc has a 52-week low of $52.26 and a 52-week high of $86.57.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data 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). The firm had revenue of $782.00 million for the quarter, compared to the consensus estimate of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 earnings per share. On average, analysts anticipate that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Dividend Announcement

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

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.