Tidal Investments LLC Acquires 13,621 Shares of nVent Electric plc (NYSE:NVT)

Tidal Investments LLC lifted its position in nVent Electric plc (NYSE:NVT - Free Report) by 42.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,016 shares of the company's stock after buying an additional 13,621 shares during the period. Tidal Investments LLC's holdings in nVent Electric were worth $3,233,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. boosted its stake in shares of nVent Electric by 6.6% during the 2nd quarter. Federated Hermes Inc. now owns 410,902 shares of the company's stock valued at $31,479,000 after buying an additional 25,482 shares during the period. Fifth Third Bancorp raised its stake in nVent Electric by 43.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,951 shares of the company's stock valued at $149,000 after purchasing an additional 591 shares during the last quarter. AQR Capital Management LLC grew its position in nVent Electric by 101.2% during the second quarter. AQR Capital Management LLC now owns 358,757 shares of the company's stock worth $27,484,000 after buying an additional 180,488 shares in the last quarter. MQS Management LLC acquired a new position in nVent Electric in the 2nd quarter valued at approximately $606,000. Finally, Van ECK Associates Corp lifted its position in shares of nVent Electric by 19.0% in the 2nd quarter. Van ECK Associates Corp now owns 68,722 shares of the company's stock worth $5,265,000 after acquiring an additional 10,955 shares during the period. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Trading Down 0.7 %

NYSE NVT traded down $0.56 on Friday, reaching $75.03. The company had a trading volume of 1,439,354 shares, compared to its average volume of 1,569,457. nVent Electric plc has a 52 week low of $55.19 and a 52 week high of $86.57. The stock's 50 day moving average is $74.96 and its 200-day moving average is $72.71. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The stock has a market cap of $12.37 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 3.88 and a beta of 1.25.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share (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 firm had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. During the same period last year, the firm earned $0.84 EPS. nVent Electric's quarterly revenue was up 9.4% on a year-over-year basis. Equities analysts predict that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Friday, October 18th. nVent Electric's dividend payout ratio (DPR) is currently 22.29%.

Wall Street Analyst Weigh In

Several brokerages recently commented on NVT. Royal Bank of Canada reduced their target price on nVent Electric from $82.00 to $80.00 and set an "outperform" rating for the company in a research report on Monday, November 4th. Citigroup boosted their price target on nVent Electric from $78.00 to $91.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Barclays boosted their price objective on nVent Electric from $76.00 to $88.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Finally, KeyCorp increased their price target on shares of nVent Electric from $80.00 to $84.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $85.50.

Insider Transactions at nVent Electric

In related news, CAO Randolph A. Wacker sold 8,022 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total transaction of $608,629.14. Following the transaction, the chief accounting officer now directly owns 25,993 shares in the company, valued at approximately $1,972,088.91. The trade was a 23.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jerry W. Burris sold 6,558 shares of the 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 of the company's stock, valued at approximately $3,603,200. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 96,382 shares of company stock valued at $7,365,956 in the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

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.