Cinctive Capital Management LP Takes Position in nVent Electric plc (NYSE:NVT)

Cinctive Capital Management LP acquired a new stake in nVent Electric plc (NYSE:NVT - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 9,629 shares of the company's stock, valued at approximately $677,000.

A number of other hedge funds have also added to or reduced their stakes in NVT. Swedbank AB bought a new position in nVent Electric in the third quarter valued at approximately $110,663,000. Millennium Management LLC grew its stake in shares of nVent Electric by 159.9% during the second quarter. Millennium Management LLC now owns 1,346,576 shares of the company's stock worth $103,161,000 after buying an additional 828,425 shares during the last quarter. Clean Energy Transition LLP grew its stake in shares of nVent Electric by 56.5% during the third quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company's stock worth $158,411,000 after buying an additional 813,909 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of nVent Electric by 16.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company's stock worth $374,201,000 after buying an additional 673,990 shares during the last quarter. Finally, HM Payson & Co. grew its stake in shares of nVent Electric by 109,496.5% during the third quarter. HM Payson & Co. now owns 438,386 shares of the company's stock worth $30,801,000 after buying an additional 437,986 shares during the last quarter. 90.05% of the stock is owned by institutional investors.

Insider Transactions at nVent Electric

In other news, Director Jerry W. Burris sold 6,558 shares of the business's stock in a transaction dated 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 directly owns 45,040 shares of the company's stock, valued at $3,603,200. The trade was a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jon D. Lammers sold 67,297 shares of the business's stock in a transaction dated 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 sale, the executive vice president now directly owns 58,121 shares of the company's stock, valued at approximately $4,421,264.47. The trade was 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 over the last three months. Corporate insiders own 2.50% of the company's stock.

nVent Electric Stock Up 1.3 %

Shares of NYSE NVT traded up $1.01 during trading on Wednesday, hitting $79.19. 1,517,302 shares of the company traded hands, compared to its average volume of 1,578,186. The business's fifty day moving average is $74.08 and its 200 day moving average is $73.08. nVent Electric plc has a fifty-two week low of $53.81 and a fifty-two week high of $86.57. The firm has a market capitalization of $13.05 billion, a price-to-earnings ratio of 23.22, a P/E/G ratio of 3.99 and a beta of 1.25. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83.

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). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The company had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. During the same quarter in the prior year, the company posted $0.84 EPS. nVent Electric's revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts predict that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business 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. The ex-dividend date was Friday, October 18th. This represents a $0.76 annualized dividend and a dividend yield of 0.96%. nVent Electric's dividend payout ratio is currently 22.29%.

Analysts Set New Price Targets

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

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.