nVent Electric plc (NYSE:NVT) is Thematics Asset Management’s 4th Largest Position

Thematics Asset Management grew its position in nVent Electric plc (NYSE:NVT) by 11.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 864,708 shares of the company’s stock after acquiring an additional 90,000 shares during the period. nVent Electric comprises 2.4% of Thematics Asset Management’s portfolio, making the stock its 4th largest holding. Thematics Asset Management owned 0.52% of nVent Electric worth $60,754,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Larson Financial Group LLC lifted its holdings in nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares during the period. UMB Bank n.a. lifted its stake in shares of nVent Electric by 280.0% in the third quarter. UMB Bank n.a. now owns 418 shares of the company’s stock valued at $29,000 after purchasing an additional 308 shares during the period. ORG Wealth Partners LLC purchased a new stake in nVent Electric during the third quarter worth about $29,000. ORG Partners LLC acquired a new position in nVent Electric during the second quarter worth about $31,000. Finally, First Foundation Advisors acquired a new position in nVent Electric during the second quarter worth about $34,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

nVent Electric Price Performance

Shares of NYSE:NVT traded down $0.03 on Tuesday, hitting $78.31. The company had a trading volume of 101,632 shares, compared to its average volume of 1,584,458. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. The company has a market cap of $12.91 billion, a PE ratio of 22.99, a PEG ratio of 4.03 and a beta of 1.26. nVent Electric plc has a 52-week low of $52.26 and a 52-week high of $86.57. The business has a 50 day moving average of $72.88 and a 200 day moving average of $73.20.

nVent Electric (NYSE:NVT) last released its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The firm had revenue of $782.00 million during the quarter, compared to analysts’ expectations of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. nVent Electric’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the company posted $0.84 earnings per share. As a group, equities analysts anticipate that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a $0.19 dividend. The ex-dividend date 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 presently 22.29%.

Analyst Ratings Changes

NVT has been the topic of several research analyst reports. Royal Bank of Canada decreased 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. Barclays lowered their target price on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Finally, KeyCorp boosted their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $85.33.

Insiders Place Their Bets

In other nVent Electric news, CAO Randolph A. Wacker sold 8,022 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total value of $608,629.14. Following the sale, the chief accounting officer now directly owns 25,993 shares of the company’s stock, valued at approximately $1,972,088.91. This trade represents a 23.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jon D. Lammers sold 67,297 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the transaction, the executive vice president now directly owns 58,121 shares of the company’s stock, valued at approximately $4,421,264.47. This represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,824 shares of company stock valued at $6,841,316 in the last quarter. 2.50% of the stock is currently owned by company insiders.

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.