Two Sigma Advisers LP Acquires 246,000 Shares of nVent Electric plc (NYSE:NVT)

Two Sigma Advisers LP lifted its position in shares of nVent Electric plc (NYSE:NVT - Free Report) by 242.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 347,600 shares of the company's stock after acquiring an additional 246,000 shares during the period. Two Sigma Advisers LP owned 0.21% of nVent Electric worth $24,422,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. State Street Corp grew its position in shares of nVent Electric by 0.9% during the third quarter. State Street Corp now owns 5,031,623 shares of the company's stock worth $353,522,000 after acquiring an additional 42,465 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of nVent Electric by 16.0% during the second 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 grew its position in nVent Electric by 23.6% in the 3rd quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company's stock valued at $171,492,000 after buying an additional 466,042 shares in the last quarter. 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 buying an additional 813,909 shares in the last quarter. Finally, 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 buying an additional 28,876 shares in the last quarter. Institutional investors own 90.05% of the company's stock.

Insider Activity

In related news, CAO Randolph A. Wacker sold 8,022 shares of the 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. This represents a 23.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jon D. Lammers sold 67,297 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total value of $5,119,282.79. Following the completion of the transaction, the executive vice president now owns 58,121 shares in the company, valued at $4,421,264.47. This represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,382 shares of company stock worth $7,365,956 in the last 90 days. Company insiders own 2.50% of the company's stock.

nVent Electric Trading Down 1.0 %

NVT stock traded down $0.80 during mid-day trading on Friday, reaching $76.89. 993,149 shares of the stock traded hands, compared to its average volume of 1,522,910. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. 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 $12.67 billion, a P/E ratio of 22.55, a P/E/G ratio of 4.08 and a beta of 1.25. The stock's fifty day moving average is $74.34 and its 200-day moving average is $73.01.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $782.00 million for the quarter, compared to analysts' expectations of $937.37 million. During the same period in the prior year, the company posted $0.84 earnings per share. nVent Electric's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts expect 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. Stockholders of record on Friday, October 18th were issued a $0.19 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.99%. nVent Electric's dividend payout ratio is 22.29%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NVT. Royal Bank of Canada decreased their target price 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. Barclays increased their target price on shares of nVent Electric from $76.00 to $88.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, KeyCorp increased their target price on shares of nVent Electric from $80.00 to $84.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $85.67.

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.