42,317 Shares in nVent Electric plc (NYSE:NVT) Bought by Van ECK Associates Corp

Van ECK Associates Corp bought a new stake in nVent Electric plc (NYSE:NVT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 42,317 shares of the company’s stock, valued at approximately $2,501,000.

Other large investors also recently bought and sold shares of the company. Quent Capital LLC boosted its position in shares of nVent Electric by 123.2% in the 4th quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after buying an additional 234 shares in the last quarter. HM Payson & Co. purchased a new stake in shares of nVent Electric in the third quarter valued at about $26,000. Pacific Center for Financial Services acquired a new stake in shares of nVent Electric in the third quarter valued at approximately $32,000. Baystate Wealth Management LLC purchased a new position in shares of nVent Electric during the 3rd quarter worth approximately $33,000. Finally, Headlands Technologies LLC acquired a new position in shares of nVent Electric during the 3rd quarter worth approximately $35,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on NVT shares. Barclays increased their target price on nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. The Goldman Sachs Group increased their price objective on shares of nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of nVent Electric in a research report on Monday, March 11th. They set a “buy” rating and a $83.00 target price on the stock. Royal Bank of Canada lowered their price target on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a report on Monday. Finally, Citigroup boosted their price objective on shares of nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Monday. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.00.

nVent Electric Trading Up 1.6 %

NVT opened at $77.59 on Wednesday. nVent Electric plc has a 12-month low of $40.22 and a 12-month high of $78.98. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.99 and a quick ratio of 1.35. The stock has a market capitalization of $12.88 billion, a PE ratio of 22.62, a P/E/G ratio of 1.63 and a beta of 1.35. The firm’s fifty day moving average price is $72.84 and its 200 day moving average price is $62.39.

nVent Electric (NYSE:NVT) last released its earnings results on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.04. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The company had revenue of $874.60 million during the quarter, compared to the consensus estimate of $864.14 million. During the same quarter in the previous year, the firm earned $0.67 EPS. The company’s revenue was up 18.0% on a year-over-year basis. As a group, research analysts expect that nVent Electric plc will post 3.25 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Thursday, April 25th. nVent Electric’s dividend payout ratio is presently 22.16%.

Insider Transactions at nVent Electric

In related news, Director Jerry W. Burris sold 4,008 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $63.39, for a total transaction of $254,067.12. Following the sale, the director now directly owns 43,072 shares of the company’s stock, valued at approximately $2,730,334.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Randall J. Hogan sold 184,572 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $64.03, for a total transaction of $11,818,145.16. Following the completion of the transaction, the director now directly owns 8,277 shares of the company’s stock, valued at $529,976.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jerry W. Burris sold 4,008 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $63.39, for a total value of $254,067.12. Following the sale, the director now owns 43,072 shares in the company, valued at $2,730,334.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 397,752 shares of company stock worth $25,553,202. 2.50% of the stock is currently owned by corporate insiders.

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.