Paloma Partners Management Co Takes $22.48 Million Position in nVent Electric plc (NYSE:NVT)

Paloma Partners Management Co acquired a new position in shares of nVent Electric plc (NYSE:NVT - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 320,000 shares of the company's stock, valued at approximately $22,483,000. nVent Electric makes up about 0.6% of Paloma Partners Management Co's portfolio, making the stock its 19th largest position. Paloma Partners Management Co owned approximately 0.19% of nVent Electric as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of NVT. Massachusetts Financial Services Co. MA raised its holdings in nVent Electric by 16.0% during the 2nd 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 during the period. Principal Financial Group Inc. grew its position in nVent Electric by 1.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company's stock valued at $123,891,000 after acquiring an additional 28,876 shares during the last quarter. Swedbank AB bought a new position in nVent Electric in the 3rd quarter valued at $110,663,000. Millennium Management LLC grew its position in nVent Electric by 159.9% in 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 last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in nVent Electric by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,035,463 shares of the company's stock valued at $72,752,000 after acquiring an additional 3,599 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

nVent Electric Stock Down 0.7 %

nVent Electric stock traded down $0.57 during midday trading on Monday, reaching $77.74. The company's stock had a trading volume of 750,192 shares, compared to its average volume of 1,578,406. The stock's 50-day simple moving average is $73.57 and its 200-day simple moving average is $73.07. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. nVent Electric plc has a 52-week low of $53.49 and a 52-week high of $86.57. The stock has a market capitalization of $12.81 billion, a P/E ratio of 22.96, a PEG ratio of 4.03 and a beta of 1.26.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $937.37 million. During the same quarter last year, the business posted $0.84 earnings per share. The company's quarterly revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts expect that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Announces Dividend

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

Insider Transactions at nVent Electric

In other nVent Electric news, Director Jerry W. Burris sold 6,558 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the transaction, the director now owns 45,040 shares in the company, valued at approximately $3,603,200. This represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Randolph A. Wacker sold 8,022 shares of the 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 sale, 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 disclosure for this sale can be found here. Insiders sold a total of 96,382 shares of company stock worth $7,365,956 over the last three months. 2.50% of the stock is currently owned by insiders.

nVent Electric 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.