MBB Public Markets I LLC Makes New $733,000 Investment in nVent Electric plc (NYSE:NVT)

MBB Public Markets I LLC bought a new position in shares of nVent Electric plc (NYSE:NVT) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,565 shares of the company’s stock, valued at approximately $733,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB boosted its position in shares of nVent Electric by 15.5% during the 1st quarter. Nordea Investment Management AB now owns 75,323 shares of the company’s stock worth $5,684,000 after acquiring an additional 10,135 shares in the last quarter. Federated Hermes Inc. grew its holdings in nVent Electric by 6.6% during the 2nd quarter. Federated Hermes Inc. now owns 410,902 shares of the company’s stock worth $31,479,000 after acquiring an additional 25,482 shares during the period. Mountain Pacific Investment Advisers Inc. ID increased its stake in shares of nVent Electric by 85.1% in the 1st quarter. Mountain Pacific Investment Advisers Inc. ID now owns 116,629 shares of the company’s stock valued at $8,794,000 after acquiring an additional 53,633 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of nVent Electric by 4.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 190,240 shares of the company’s stock valued at $14,344,000 after buying an additional 8,489 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of nVent Electric by 18.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 306,319 shares of the company’s stock valued at $23,099,000 after acquiring an additional 46,748 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Insider Buying and Selling at nVent Electric

In related news, insider Michael B. Faulconer sold 20,004 shares of nVent Electric stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the sale, the insider now owns 19,766 shares of the company’s stock, valued at approximately $1,251,978.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Herbert K. Parker purchased 7,566 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the acquisition, the director now directly owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael B. Faulconer sold 20,004 shares of nVent Electric stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total value of $1,267,053.36. Following the completion of the sale, the insider now directly owns 19,766 shares in the company, valued at approximately $1,251,978.44. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

nVent Electric Stock Performance

Shares of NVT opened at $68.81 on Wednesday. nVent Electric plc has a one year low of $45.60 and a one year high of $86.57. The business has a fifty day moving average of $66.45 and a 200 day moving average of $73.40. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.17 and a quick ratio of 1.49. The firm has a market capitalization of $11.42 billion, a P/E ratio of 20.06, a PEG ratio of 1.35 and a beta of 1.27.

nVent Electric (NYSE:NVT) last released its quarterly earnings results 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 company had revenue of $880.30 million for the quarter, compared to the consensus estimate of $892.89 million. nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.77 EPS. As a group, sell-side analysts anticipate that nVent Electric plc will post 3.26 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be paid 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 1.10%. nVent Electric’s payout ratio is presently 22.16%.

Analysts Set New Price Targets

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

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.