GAMMA Investing LLC Boosts Holdings in nVent Electric plc (NYSE:NVT)

GAMMA Investing LLC grew its position in shares of nVent Electric plc (NYSE:NVT) by 27.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,994 shares of the company’s stock after buying an additional 429 shares during the period. GAMMA Investing LLC’s holdings in nVent Electric were worth $136,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of NVT. Private Advisor Group LLC boosted its holdings in shares of nVent Electric by 23.4% in the second quarter. Private Advisor Group LLC now owns 8,140 shares of the company’s stock valued at $624,000 after acquiring an additional 1,542 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in nVent Electric in the second quarter valued at about $34,000. Choreo LLC purchased a new stake in nVent Electric in the 2nd quarter valued at approximately $266,000. Daiwa Securities Group Inc. purchased a new stake in nVent Electric in the 2nd quarter valued at approximately $1,080,000. Finally, Headlands Technologies LLC acquired a new position in nVent Electric during the 2nd quarter worth approximately $179,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on NVT. Barclays raised their price target on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Royal Bank of Canada raised their target price on nVent Electric from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Citigroup upped their price target on shares of nVent Electric from $78.00 to $91.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Finally, KeyCorp raised their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $86.33.

nVent Electric Stock Down 0.8 %

NVT opened at $69.85 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. The company has a market cap of $11.51 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 3.86 and a beta of 1.27. nVent Electric plc has a one year low of $55.19 and a one year high of $86.57. The business’s fifty day moving average is $73.54 and its two-hundred day moving average is $71.51.

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

nVent Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, January 17th. This is a positive change from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.15%. nVent Electric’s dividend payout ratio is currently 23.46%.

Insider Transactions at nVent Electric

In other nVent Electric news, CAO Randolph A. Wacker sold 8,022 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the sale, the chief accounting officer now owns 25,993 shares in the company, valued at approximately $1,972,088.91. This represents a 23.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jon D. Lammers sold 67,297 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total value of $5,119,282.79. Following the completion of 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 trade represents a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,382 shares of company stock valued at $7,365,956 in the last ninety days. Corporate 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.