Interval Partners LP Raises Stock Holdings in nVent Electric plc (NYSE:NVT)

Interval Partners LP grew its stake in shares of nVent Electric plc (NYSE:NVT) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 716,672 shares of the company’s stock after acquiring an additional 46,918 shares during the quarter. nVent Electric comprises about 1.0% of Interval Partners LP’s investment portfolio, making the stock its 27th biggest holding. Interval Partners LP owned 0.43% of nVent Electric worth $48,848,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Crews Bank & Trust purchased a new stake in nVent Electric in the fourth quarter worth approximately $26,000. Tsfg LLC purchased a new position in shares of nVent Electric in the 4th quarter worth $51,000. Raleigh Capital Management Inc. grew its holdings in shares of nVent Electric by 547.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock worth $51,000 after acquiring an additional 635 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in shares of nVent Electric by 26.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock worth $53,000 after acquiring an additional 162 shares during the period. Finally, Blue Trust Inc. increased its position in nVent Electric by 243.5% during the fourth quarter. Blue Trust Inc. now owns 869 shares of the company’s stock valued at $61,000 after acquiring an additional 616 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Stock Up 1.3 %

NVT opened at $61.54 on Friday. The stock has a market cap of $10.13 billion, a price-to-earnings ratio of 31.40, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The firm’s fifty day moving average is $53.86 and its 200 day moving average is $64.87. nVent Electric plc has a fifty-two week low of $41.71 and a fifty-two week high of $86.57.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Friday, May 2nd. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. The business had revenue of $809.30 million for the quarter, compared to the consensus estimate of $790.74 million. During the same period in the previous year, the business earned $0.78 earnings per share. The business’s revenue was up 10.5% on a year-over-year basis. On average, sell-side analysts forecast that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 25th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is currently 22.86%.

Insider Activity

In other news, EVP Lynnette R. Heath sold 4,041 shares of nVent Electric stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $61.35, for a total value of $247,915.35. Following the sale, the executive vice president now directly owns 32,665 shares of the company’s stock, valued at approximately $2,003,997.75. The trade was a 11.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NVT shares. The Goldman Sachs Group cut their price target on nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Royal Bank of Canada upped their target price on shares of nVent Electric from $73.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, May 5th. CL King raised shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Monday, March 17th. Citigroup decreased their target price on nVent Electric from $85.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a report on Friday, March 21st. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $70.00.

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.