XTX Topco Ltd Makes New $2.02 Million Investment in nVent Electric plc (NYSE:NVT)

XTX Topco Ltd bought a new position in shares of nVent Electric plc (NYSE:NVT - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 28,759 shares of the company's stock, valued at approximately $2,021,000.

Several other hedge funds have also recently bought and sold shares of NVT. Federated Hermes Inc. boosted its holdings in nVent Electric by 6.6% in the 2nd quarter. Federated Hermes Inc. now owns 410,902 shares of the company's stock worth $31,479,000 after acquiring an additional 25,482 shares during the period. Cetera Investment Advisers grew its holdings in nVent Electric by 143.8% during the 1st quarter. Cetera Investment Advisers now owns 46,103 shares of the company's stock valued at $3,476,000 after purchasing an additional 27,196 shares in the last quarter. Gateway Investment Advisers LLC acquired a new position in nVent Electric in the 2nd quarter worth $1,608,000. Fifth Third Bancorp boosted its position in nVent Electric by 43.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,951 shares of the company's stock valued at $149,000 after buying an additional 591 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of nVent Electric by 101.2% during the second quarter. AQR Capital Management LLC now owns 358,757 shares of the company's stock worth $27,484,000 after acquiring an additional 180,488 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at nVent Electric

In other news, Director Jerry W. Burris sold 6,558 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the sale, the director now owns 45,040 shares in the company, valued at $3,603,200. This represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction dated 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 directly 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 90 days, insiders have sold 96,382 shares of company stock valued at $7,365,956. Company insiders own 2.50% of the company's stock.

nVent Electric Stock Performance

NYSE:NVT traded down $0.80 during mid-day trading on Friday, hitting $76.89. The stock had a trading volume of 993,149 shares, 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. The company has a 50 day simple moving average of $74.34 and a 200-day simple moving average of $72.94. The stock has a market capitalization of $12.67 billion, a price-to-earnings ratio of 22.55, a P/E/G ratio of 4.08 and a beta of 1.25. nVent Electric plc has a 52 week low of $53.96 and a 52 week high of $86.57.

nVent Electric (NYSE:NVT - Get Free Report) last issued 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). 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 posted $0.84 earnings per share. The business's quarterly revenue was up 9.4% on a year-over-year basis. On average, research analysts expect that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

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

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.