UBS Asset Management Americas Inc. grew its stake in shares of nVent Electric PLC (NYSE:NVT) by 28.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,217,767 shares of the company’s stock after acquiring an additional 270,562 shares during the period. UBS Asset Management Americas Inc. owned about 0.72% of nVent Electric worth $30,188,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in NVT. Geode Capital Management LLC boosted its holdings in shares of nVent Electric by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 1,896,604 shares of the company’s stock valued at $42,597,000 after buying an additional 151,472 shares during the period. Raymond James & Associates boosted its holdings in shares of nVent Electric by 43.7% in the 1st quarter. Raymond James & Associates now owns 139,798 shares of the company’s stock valued at $3,772,000 after buying an additional 42,532 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of nVent Electric by 54.8% in the 1st quarter. JPMorgan Chase & Co. now owns 355,119 shares of the company’s stock valued at $9,581,000 after buying an additional 125,715 shares during the period. First Trust Advisors LP boosted its holdings in shares of nVent Electric by 436.4% in the 1st quarter. First Trust Advisors LP now owns 248,765 shares of the company’s stock valued at $6,712,000 after buying an additional 202,386 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its holdings in shares of nVent Electric by 2.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 337,827 shares of the company’s stock valued at $9,115,000 after buying an additional 7,589 shares during the period. 85.67% of the stock is owned by institutional investors.
Shares of NYSE NVT traded up $0.23 during midday trading on Monday, hitting $22.13. The company’s stock had a trading volume of 15,507 shares, compared to its average volume of 1,442,779. nVent Electric PLC has a 1-year low of $19.28 and a 1-year high of $28.49. The firm’s fifty day moving average price is $21.16 and its 200-day moving average price is $24.42. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 1.87. The firm has a market cap of $3.68 billion, a P/E ratio of 12.74 and a beta of 1.64.
nVent Electric (NYSE:NVT) last posted its earnings results on Thursday, August 1st. The company reported $0.44 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.44. The firm had revenue of $539.50 million during the quarter, compared to analyst estimates of $550.75 million. nVent Electric had a net margin of 11.43% and a return on equity of 11.69%. nVent Electric’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 EPS. As a group, research analysts predict that nVent Electric PLC will post 1.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Thursday, October 17th. nVent Electric’s payout ratio is 40.23%.
Several research analysts have recently commented on the stock. ValuEngine lowered shares of nVent Electric from a “sell” rating to a “strong sell” rating in a report on Thursday, July 11th. Zacks Investment Research lowered shares of nVent Electric from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. Buckingham Research lowered shares of nVent Electric from a “buy” rating to a “neutral” rating and decreased their price target for the company from $29.00 to $23.00 in a report on Tuesday, August 6th. Vertical Research lowered shares of nVent Electric from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Barclays reaffirmed a “hold” rating and issued a $25.00 price target on shares of nVent Electric in a report on Sunday, August 4th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $27.33.
In other news, Director Michael L. Ducker bought 2,000 shares of nVent Electric stock in a transaction on Tuesday, August 6th. The stock was purchased at an average cost of $20.51 per share, with a total value of $41,020.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Beth Wozniak bought 5,000 shares of nVent Electric stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of $21.29 per share, with a total value of $106,450.00. The disclosure for this purchase can be found here. Insiders own 1.60% of the company’s stock.
nVent Electric Profile
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.
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