Weiss Asset Management LP Takes $7.39 Million Position in nVent Electric plc (NYSE:NVT)

Weiss Asset Management LP purchased a new stake in shares of nVent Electric plc (NYSE:NVT - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 105,177 shares of the company's stock, valued at approximately $7,390,000. Weiss Asset Management LP owned 0.06% of nVent Electric as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cetera Investment Advisers increased its holdings in nVent Electric by 143.8% in the 1st 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 lifted 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 buying an additional 3,177 shares in the last quarter. CWM LLC boosted its holdings in nVent Electric by 132.0% in the 2nd quarter. CWM LLC now owns 2,513 shares of the company's stock worth $193,000 after buying an additional 1,430 shares during the period. Valeo Financial Advisors LLC purchased a new position in shares of nVent Electric in the second quarter valued at about $214,000. Finally, QRG Capital Management Inc. boosted its stake in shares of nVent Electric by 22.7% in the second quarter. QRG Capital Management Inc. now owns 3,938 shares of the company's stock worth $302,000 after acquiring an additional 729 shares during the period. Hedge funds and other institutional investors own 90.05% of the company's stock.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, CAO Randolph A. Wacker sold 8,022 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total value of $608,629.14. Following the completion of the sale, the chief accounting officer now directly owns 25,993 shares of the company's stock, valued at $1,972,088.91. The trade was a 23.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jerry W. Burris sold 6,558 shares of the firm's 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 approximately $3,603,200. This trade represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,382 shares of company stock worth $7,365,956 over the last 90 days. Company insiders own 2.50% of the company's stock.

nVent Electric Price Performance

Shares of NYSE NVT traded down $0.80 during mid-day trading on Friday, hitting $76.89. 989,556 shares of the company's stock traded hands, compared to its average volume of 1,572,448. 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 1 year low of $53.96 and a 1 year high of $86.57. The company's 50-day moving average is $74.22 and its two-hundred day moving average is $73.11. The company has a market capitalization of $12.67 billion, a P/E ratio of 22.57, a PEG ratio of 4.02 and a beta of 1.25.

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 (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.18). The company had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. nVent Electric's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.84 earnings per share. On average, equities analysts anticipate that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on NVT shares. Royal Bank of Canada decreased their target price on nVent Electric from $82.00 to $80.00 and set an "outperform" rating on the stock in a research note on Monday, November 4th. Barclays boosted their price target on shares of nVent Electric from $76.00 to $88.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, KeyCorp lifted their target price on nVent Electric from $80.00 to $84.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $85.67.

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.