Truvestments Capital LLC Acquires New Holdings in nVent Electric plc (NYSE:NVT)

Truvestments Capital LLC acquired a new position in nVent Electric plc (NYSE:NVT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,229 shares of the company’s stock, valued at approximately $86,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Daiwa Securities Group Inc. raised its position in shares of nVent Electric by 227.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 46,150 shares of the company’s stock worth $3,242,000 after buying an additional 32,050 shares in the last quarter. Alpha DNA Investment Management LLC increased its stake in shares of nVent Electric by 13.7% during the third quarter. Alpha DNA Investment Management LLC now owns 7,540 shares of the company’s stock valued at $530,000 after acquiring an additional 906 shares during the period. Larson Financial Group LLC raised its holdings in nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares in the last quarter. Swedbank AB acquired a new stake in nVent Electric in the third quarter worth approximately $110,663,000. Finally, Cerity Partners LLC boosted its stake in nVent Electric by 145.7% during the 3rd quarter. Cerity Partners LLC now owns 45,248 shares of the company’s stock valued at $3,179,000 after purchasing an additional 26,832 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

nVent Electric Price Performance

Shares of NVT opened at $78.01 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. The company has a market capitalization 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 business’s 50-day moving average is $73.11 and its 200-day moving average is $73.18. nVent Electric plc has a fifty-two week low of $52.26 and a fifty-two week high of $86.57.

nVent Electric (NYSE:NVT) last issued its earnings results on Tuesday, November 5th. The company reported $0.63 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%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.84 EPS. Equities research analysts expect that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a dividend of $0.19 per share. 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 currently 22.29%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NVT. KeyCorp upped their price objective on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Barclays cut their price target on shares of 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 lowered their price objective on shares of 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 research analysts have rated the stock with a buy rating, According to MarketBeat, nVent Electric currently has a consensus rating of “Buy” and an average target price of $85.33.

Insiders Place Their Bets

In other news, Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the transaction, the director now owns 45,040 shares of the company’s stock, valued at $3,603,200. This trade represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jon D. Lammers sold 67,297 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,382 shares of company stock valued at $7,365,956 over the last quarter. Insiders own 2.50% of the company’s stock.

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.