Soros Fund Management LLC Invests $4.06 Million in nVent Electric plc (NYSE:NVT)

Soros Fund Management LLC purchased a new position in shares of nVent Electric plc (NYSE:NVT - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 57,810 shares of the company's stock, valued at approximately $4,062,000.

Several other large investors also recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted its position in shares of nVent Electric by 143.8% during the first quarter. Cetera Investment Advisers now owns 46,103 shares of the company's stock worth $3,476,000 after acquiring an additional 27,196 shares in the last quarter. Cetera Advisors LLC raised its stake in shares of nVent Electric by 58.6% during the 1st quarter. Cetera Advisors LLC now owns 8,596 shares of the company's stock valued at $648,000 after purchasing an additional 3,177 shares during the period. CWM LLC lifted its holdings in nVent Electric by 132.0% during the 2nd quarter. CWM LLC now owns 2,513 shares of the company's stock worth $193,000 after purchasing an additional 1,430 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in nVent Electric in the 2nd quarter worth about $214,000. Finally, QRG Capital Management Inc. grew its holdings in nVent Electric by 22.7% during the 2nd quarter. QRG Capital Management Inc. now owns 3,938 shares of the company's stock valued at $302,000 after buying an additional 729 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

nVent Electric Price Performance

NVT traded down $0.69 on Friday, reaching $77.00. The company had a trading volume of 331,704 shares, compared to its average volume of 1,570,622. nVent Electric plc has a 52-week low of $53.96 and a 52-week high of $86.57. The company has a market cap of $12.69 billion, a price-to-earnings ratio of 22.78, a P/E/G ratio of 4.02 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. The business has a 50 day simple moving average of $74.22 and a 200 day simple moving average of $73.11.

nVent Electric (NYSE:NVT - Get Free Report) last posted 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 analysts' expectations of $937.37 million. During the same quarter last year, the business posted $0.84 EPS. The business's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Friday, October 18th. nVent Electric's payout ratio is currently 22.29%.

Analyst Upgrades and Downgrades

NVT has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of nVent Electric from $76.00 to $88.00 and gave the stock an "overweight" rating in a report on Thursday. 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 note on Monday, October 14th. Finally, Royal Bank of Canada cut their price target on shares of nVent Electric from $82.00 to $80.00 and set an "outperform" rating for the company in a report on Monday, November 4th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $85.67.

Insider Activity

In related news, EVP Jon D. Lammers sold 67,297 shares of the 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 completion of the sale, the executive vice president now directly owns 58,121 shares in the company, valued at $4,421,264.47. This represents a 53.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Randolph A. Wacker sold 8,022 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total value of $608,629.14. Following the transaction, the chief accounting officer now 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. In the last three months, insiders have sold 96,382 shares of company stock worth $7,365,956. 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.