Y Intercept Hong Kong Ltd Makes New $583,000 Investment in nVent Electric plc (NYSE:NVT)

Y Intercept Hong Kong Ltd acquired a new stake in shares of nVent Electric plc (NYSE:NVT - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,303 shares of the company's stock, valued at approximately $583,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Signaturefd LLC increased its holdings in nVent Electric by 22.0% during the 2nd quarter. Signaturefd LLC now owns 860 shares of the company's stock worth $66,000 after purchasing an additional 155 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of nVent Electric by 3.6% during the third quarter. CIBC Asset Management Inc now owns 4,823 shares of the company's stock valued at $339,000 after buying an additional 166 shares during the last quarter. Larson Financial Group LLC grew its holdings in nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company's stock worth $27,000 after buying an additional 181 shares in the last quarter. Huntington National Bank raised its position in nVent Electric by 57.3% in the 3rd quarter. Huntington National Bank now owns 612 shares of the company's stock valued at $43,000 after buying an additional 223 shares during the last quarter. Finally, Anchor Investment Management LLC lifted its stake in nVent Electric by 94.0% during the 2nd quarter. Anchor Investment Management LLC now owns 578 shares of the company's stock valued at $44,000 after acquiring an additional 280 shares in the last quarter. 90.05% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other nVent Electric news, EVP Jon D. Lammers sold 67,297 shares of nVent Electric stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the transaction, the executive vice president now directly owns 58,121 shares of the company's stock, valued at approximately $4,421,264.47. This trade represents a 53.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Randolph A. Wacker sold 8,022 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total transaction 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. This trade represents a 23.58 % 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 ninety days. 2.50% of the stock is currently owned by insiders.

nVent Electric Stock Performance

Shares of NYSE NVT traded down $0.56 during midday trading on Friday, hitting $75.03. The company's stock had a trading volume of 1,439,354 shares, compared to its average volume of 1,569,457. The firm has a market capitalization of $12.37 billion, a price-to-earnings ratio of 22.00, a P/E/G ratio of 3.88 and a beta of 1.25. 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 stock has a fifty day moving average price of $74.96 and a 200 day moving average price of $72.71. nVent Electric plc has a one year low of $55.19 and a one year high of $86.57.

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

nVent Electric Announces Dividend

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. This represents a $0.76 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric's payout ratio is 22.29%.

Analysts Set New Price Targets

NVT has been the subject of several analyst reports. Royal Bank of Canada lowered their target price 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. Barclays boosted their target price on nVent Electric from $76.00 to $88.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Citigroup increased their price target on nVent Electric from $78.00 to $91.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Finally, KeyCorp upped their price objective on nVent Electric from $80.00 to $84.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $85.50.

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.