Temasek Holdings Private Ltd Invests $3.26 Million in nVent Electric plc (NYSE:NVT)

Temasek Holdings Private Ltd acquired a new stake in shares of nVent Electric plc (NYSE:NVT - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 46,388 shares of the company's stock, valued at approximately $3,259,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp grew its holdings in nVent Electric by 0.9% during the 3rd quarter. State Street Corp now owns 5,031,623 shares of the company's stock valued at $353,522,000 after purchasing an additional 42,465 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of 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 worth $374,201,000 after acquiring an additional 673,990 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in nVent Electric by 23.6% during the 3rd quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company's stock valued at $171,492,000 after acquiring an additional 466,042 shares during the period. Clean Energy Transition LLP grew its position in nVent Electric by 56.5% in the 3rd quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company's stock valued at $158,411,000 after acquiring an additional 813,909 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of nVent Electric by 1.7% during the third quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company's stock worth $123,891,000 after purchasing an additional 28,876 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NVT. Royal Bank of Canada reduced their price target 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. Barclays lifted 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. Finally, KeyCorp upped their target price on nVent Electric from $80.00 to $84.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $85.67.

nVent Electric Price Performance

Shares of NYSE NVT traded down $0.72 during midday trading on Friday, hitting $76.97. The company had a trading volume of 398,231 shares, compared to its average volume of 1,570,897. 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 business has a 50-day simple moving average of $74.22 and a two-hundred day simple moving average of $73.11. nVent Electric plc has a twelve month low of $53.96 and a twelve month high of $86.57. The firm has a market capitalization of $12.69 billion, a price-to-earnings ratio of 22.57, a price-to-earnings-growth ratio of 4.02 and a beta of 1.25.

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 analysts' consensus estimates of $0.81 by ($0.18). The firm had revenue of $782.00 million for the quarter, compared to analysts' expectations of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The business's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.84 earnings per share. Equities research analysts anticipate that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 annualized dividend and a yield of 0.99%. nVent Electric's dividend payout ratio (DPR) is presently 22.29%.

Insiders Place Their Bets

In related news, Director Jerry W. Burris sold 6,558 shares of the 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 sale, the director now owns 45,040 shares of the company's stock, valued at $3,603,200. This trade represents a 12.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sara E. Zawoyski sold 14,505 shares of nVent Electric stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total value of $1,113,403.80. Following the sale, the chief financial officer now directly owns 62,215 shares in the company, valued at approximately $4,775,623.40. This trade represents a 18.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 96,382 shares of company stock valued at $7,365,956. Insiders own 2.50% of the company's stock.

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.