Centiva Capital LP Raises Position in nVent Electric plc (NYSE:NVT)

Centiva Capital LP raised its position in nVent Electric plc (NYSE:NVT - Free Report) by 185.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 27,859 shares of the company's stock after buying an additional 18,097 shares during the quarter. Centiva Capital LP's holdings in nVent Electric were worth $1,957,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its stake in shares of nVent Electric by 16.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company's stock valued at $374,201,000 after buying an additional 673,990 shares in the last quarter. Clean Energy Transition LLP lifted its stake in shares of nVent Electric by 56.5% in the third quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company's stock valued at $158,411,000 after purchasing an additional 813,909 shares during the period. Principal Financial Group Inc. grew its position in nVent Electric by 1.7% during the third quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company's stock worth $123,891,000 after buying an additional 28,876 shares during the period. Swedbank AB purchased a new position in nVent Electric in the third quarter valued at about $110,663,000. Finally, Millennium Management LLC lifted its position in shares of nVent Electric by 159.9% during the 2nd quarter. Millennium Management LLC now owns 1,346,576 shares of the company's stock valued at $103,161,000 after acquiring an additional 828,425 shares during the period. Hedge funds and other institutional investors own 90.05% of the company's stock.

nVent Electric Trading Up 0.8 %

NYSE NVT traded up $0.62 during mid-day trading on Tuesday, reaching $78.11. 528,839 shares of the stock were exchanged, compared to its average volume of 1,576,851. The business's fifty day simple moving average is $73.72 and its 200 day simple moving average is $73.05. 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 stock has a market capitalization of $12.87 billion, a PE ratio of 22.72, a PEG ratio of 4.03 and a beta of 1.25. nVent Electric plc has a 1-year low of $53.49 and a 1-year high of $86.57.

nVent Electric (NYSE:NVT - Get Free Report) last released its earnings results 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 net margin of 16.95% and a return on equity of 15.66%. The business had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. During the same quarter in the previous year, the company posted $0.84 earnings per share. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, research analysts anticipate that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.97%. The ex-dividend date was Friday, October 18th. nVent Electric's dividend payout ratio (DPR) is 22.29%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at nVent Electric

In other nVent Electric news, CAO Randolph A. Wacker sold 8,022 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the completion of the sale, the chief accounting officer now owns 25,993 shares of the company's stock, valued at approximately $1,972,088.91. The trade was a 23.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jon D. Lammers sold 67,297 shares of the firm's stock in a transaction dated 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 owns 58,121 shares in the company, 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 have sold a total of 96,382 shares of company stock worth $7,365,956 in the last quarter. 2.50% of the stock is owned by insiders.

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.