Alpha DNA Investment Management LLC Has $508,000 Stock Holdings in nVent Electric plc (NYSE:NVT)

Alpha DNA Investment Management LLC lifted its holdings in shares of nVent Electric plc (NYSE:NVT) by 29.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 6,634 shares of the company’s stock after acquiring an additional 1,494 shares during the period. Alpha DNA Investment Management LLC’s holdings in nVent Electric were worth $508,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Point72 Hong Kong Ltd bought a new position in nVent Electric during the second quarter worth about $233,000. Squarepoint Ops LLC bought a new position in shares of nVent Electric during the 2nd quarter worth approximately $2,496,000. Marshall Wace LLP boosted its stake in nVent Electric by 100.0% in the 2nd quarter. Marshall Wace LLP now owns 339,371 shares of the company’s stock valued at $25,999,000 after buying an additional 169,683 shares in the last quarter. Bank of Montreal Can grew its position in nVent Electric by 52.1% in the second quarter. Bank of Montreal Can now owns 106,410 shares of the company’s stock valued at $8,251,000 after acquiring an additional 36,433 shares during the period. Finally, Magnetar Financial LLC acquired a new position in nVent Electric during the second quarter worth $1,658,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on NVT. Royal Bank of Canada reduced their target price on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. KeyCorp raised shares of nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 price objective for the company in a report on Wednesday, September 4th. Finally, Barclays boosted their target price on nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, June 4th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $86.50.

nVent Electric Price Performance

Shares of NVT stock opened at $69.52 on Wednesday. nVent Electric plc has a 1 year low of $45.60 and a 1 year high of $86.57. The company has a current ratio of 2.17, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53. The firm’s 50 day moving average is $67.02 and its 200-day moving average is $73.39. The firm has a market capitalization of $11.55 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 1.35 and a beta of 1.27.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.01). The firm had revenue of $880.30 million for the quarter, compared to analyst estimates of $892.89 million. nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 EPS. Sell-side analysts forecast that nVent Electric plc will post 3.26 EPS for the current fiscal year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be given a $0.19 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a yield of 1.09%. nVent Electric’s payout ratio is 22.16%.

Insiders Place Their Bets

In other nVent Electric news, Director Herbert K. Parker bought 7,566 shares of nVent Electric stock in a transaction dated Thursday, August 15th. The shares were bought at an average price of $65.71 per share, with a total value of $497,161.86. Following the purchase, the director now owns 34,524 shares of the company’s stock, valued at $2,268,572.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other nVent Electric news, EVP Lynnette R. Heath sold 8,242 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total value of $496,662.92. Following the transaction, the executive vice president now owns 30,432 shares of the company’s stock, valued at $1,833,832.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Herbert K. Parker bought 7,566 shares of nVent Electric stock in a transaction on Thursday, August 15th. The shares were bought at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the acquisition, the director now owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. The disclosure for this purchase can be found here. Company insiders own 2.50% of the company’s stock.

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.