1832 Asset Management L.P. Acquires 161,223 Shares of nVent Electric plc (NYSE:NVT)

1832 Asset Management L.P. boosted its holdings in shares of nVent Electric plc (NYSE:NVT) by 4,741.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 164,623 shares of the company’s stock after purchasing an additional 161,223 shares during the quarter. 1832 Asset Management L.P. owned about 0.10% of nVent Electric worth $12,413,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NVT. Quent Capital LLC raised its position in shares of nVent Electric by 123.2% during the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock valued at $25,000 after buying an additional 234 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of nVent Electric during the 1st quarter valued at about $26,000. Livelsberger Financial Advisory bought a new position in shares of nVent Electric during the 4th quarter valued at about $28,000. Rise Advisors LLC purchased a new position in shares of nVent Electric during the first quarter valued at about $32,000. Finally, Smithfield Trust Co increased its holdings in shares of nVent Electric by 650.0% in the fourth quarter. Smithfield Trust Co now owns 630 shares of the company’s stock worth $36,000 after purchasing an additional 546 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. The Goldman Sachs Group lifted their price objective on nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Citigroup lifted their price objective on shares of nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Royal Bank of Canada decreased their target price on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. Finally, Barclays lifted their price target on nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.00.

nVent Electric Trading Up 0.3 %

nVent Electric stock traded up $0.21 during midday trading on Friday, reaching $70.54. The stock had a trading volume of 1,993,668 shares, compared to its average volume of 1,395,745. The company has a quick ratio of 1.35, a current ratio of 1.99 and a debt-to-equity ratio of 0.54. The firm has a market cap of $11.71 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 1.54 and a beta of 1.31. nVent Electric plc has a 52-week low of $45.60 and a 52-week high of $86.57. The company has a fifty day moving average of $78.34 and a 200 day moving average of $72.36.

nVent Electric (NYSE:NVT) last released its earnings results on Friday, May 3rd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The firm had revenue of $874.60 million for the quarter, compared to analysts’ expectations of $864.14 million. During the same quarter in the prior year, the firm posted $0.67 earnings per share. The company’s quarterly revenue was up 18.0% on a year-over-year basis. On average, analysts anticipate that nVent Electric plc will post 3.27 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, July 19th. nVent Electric’s dividend payout ratio is currently 22.16%.

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.