Point72 DIFC Ltd Purchases 37,711 Shares of nVent Electric plc (NYSE:NVT)

Point72 DIFC Ltd lifted its holdings in shares of nVent Electric plc (NYSE:NVT - Free Report) by 20,166.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 37,898 shares of the company's stock after acquiring an additional 37,711 shares during the period. Point72 DIFC Ltd's holdings in nVent Electric were worth $2,663,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVT. Federated Hermes Inc. increased its position 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 worth $31,479,000 after purchasing an additional 25,482 shares in the last quarter. Cetera Investment Advisers increased its position in shares of nVent Electric by 143.8% during the 1st quarter. Cetera Investment Advisers now owns 46,103 shares of the company's stock worth $3,476,000 after purchasing an additional 27,196 shares in the last quarter. Gateway Investment Advisers LLC acquired a new stake in shares of nVent Electric during the 2nd quarter worth about $1,608,000. Fifth Third Bancorp increased its position in shares of nVent Electric by 43.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,951 shares of the company's stock worth $149,000 after purchasing an additional 591 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of nVent Electric by 101.2% during the 2nd quarter. AQR Capital Management LLC now owns 358,757 shares of the company's stock worth $27,484,000 after purchasing an additional 180,488 shares in the last quarter. 90.05% of the stock is owned by institutional investors.

Insider Transactions at nVent Electric

In related news, EVP Jon D. Lammers sold 67,297 shares of nVent Electric stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the transaction, the executive vice president now owns 58,121 shares of the company's stock, valued at $4,421,264.47. This trade represents a 53.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.00, for a total transaction of $524,640.00. Following the transaction, the director now directly owns 45,040 shares in the company, valued at $3,603,200. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders 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 company insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. KeyCorp increased their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. Royal Bank of Canada lowered their price objective on shares of nVent Electric from $82.00 to $80.00 and set an "outperform" rating for the company in a research report on Monday, November 4th. Finally, Barclays raised their price objective on shares of nVent Electric from $76.00 to $88.00 and gave the company an "overweight" rating in a research report on Thursday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $85.67.

nVent Electric Price Performance

NVT traded down $1.50 during midday trading on Thursday, hitting $77.69. The company had a trading volume of 905,733 shares, compared to its average volume of 1,575,968. 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 company has a market capitalization of $12.80 billion, a PE ratio of 22.78, a P/E/G ratio of 4.02 and a beta of 1.25. nVent Electric plc has a twelve month low of $53.96 and a twelve month high of $86.57. The firm's 50-day simple moving average is $74.22 and its 200-day simple moving average is $73.11.

nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly 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 return on equity of 15.66% and a net margin of 16.95%. The business 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 firm earned $0.84 EPS. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. Equities research analysts predict that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Dividend Announcement

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

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.