Bridgewater Associates LP Acquires Shares of 25,353 nVent Electric plc (NYSE:NVT)

Bridgewater Associates LP purchased a new stake in nVent Electric plc (NYSE:NVT - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 25,353 shares of the company's stock, valued at approximately $1,781,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of nVent Electric by 5.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 100,384 shares of the company's stock valued at $7,569,000 after purchasing an additional 5,305 shares in the last quarter. Cetera Investment Advisers raised its holdings in nVent Electric by 143.8% during the first quarter. Cetera Investment Advisers now owns 46,103 shares of the company's stock valued at $3,476,000 after buying an additional 27,196 shares in the last quarter. Cetera Advisors LLC lifted its position in shares of nVent Electric by 58.6% in the first quarter. Cetera Advisors LLC now owns 8,596 shares of the company's stock worth $648,000 after buying an additional 3,177 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of nVent Electric by 15.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the company's stock worth $145,000 after acquiring an additional 272 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of nVent Electric by 494.3% during the 2nd quarter. Versant Capital Management Inc now owns 523 shares of the company's stock valued at $40,000 after acquiring an additional 435 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on NVT. Barclays decreased their target price on nVent Electric from $87.00 to $86.00 and set an "overweight" rating for the company in a research report on Wednesday, October 2nd. Royal Bank of Canada decreased their price objective on shares of nVent Electric from $82.00 to $80.00 and set an "outperform" rating for the company in a report on Monday, November 4th. Finally, KeyCorp lifted their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $85.33.

nVent Electric Stock Performance

NVT stock traded down $0.82 during trading on Monday, reaching $77.49. 1,407,317 shares of the stock were exchanged, compared to its average volume of 1,581,415. nVent Electric plc has a twelve month low of $53.49 and a twelve month high of $86.57. 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 capitalization of $12.77 billion, a P/E ratio of 22.96, a price-to-earnings-growth ratio of 4.03 and a beta of 1.26. The stock has a 50 day simple moving average of $73.57 and a 200-day simple moving average of $73.07.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.18). The firm had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. nVent Electric's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.84 EPS. As a group, sell-side analysts anticipate that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Friday, October 18th. nVent Electric's payout ratio is 22.29%.

Insider Activity

In other nVent Electric news, EVP Jon D. Lammers sold 67,297 shares of the 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 completion of the transaction, the executive vice president now directly owns 58,121 shares in the company, valued at $4,421,264.47. This represents a 53.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jerry W. Burris sold 6,558 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the sale, the director now owns 45,040 shares in the company, valued at $3,603,200. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,382 shares of company stock worth $7,365,956. 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.