Lecap Asset Management Ltd. Makes New $1.44 Million Investment in nVent Electric plc (NYSE:NVT)

Lecap Asset Management Ltd. acquired a new position in nVent Electric plc (NYSE:NVT) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 20,462 shares of the company’s stock, valued at approximately $1,438,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC increased its holdings in shares of nVent Electric by 22.0% during the second quarter. Signaturefd LLC now owns 860 shares of the company’s stock valued at $66,000 after acquiring an additional 155 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in nVent Electric by 15.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the company’s stock worth $145,000 after buying an additional 272 shares in the last quarter. Anchor Investment Management LLC increased its holdings in nVent Electric by 94.0% in the 2nd quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock worth $44,000 after buying an additional 280 shares in the last quarter. Sciencast Management LP increased its holdings in nVent Electric by 7.1% in the 1st quarter. Sciencast Management LP now owns 4,397 shares of the company’s stock worth $332,000 after buying an additional 293 shares in the last quarter. Finally, Banque Cantonale Vaudoise increased its holdings in nVent Electric by 87.2% in the 2nd quarter. Banque Cantonale Vaudoise now owns 642 shares of the company’s stock worth $49,000 after buying an additional 299 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

nVent Electric Trading Down 0.6 %

Shares of NYSE:NVT opened at $73.02 on Thursday. The stock has a market capitalization of $12.14 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 1.54 and a beta of 1.27. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 2.17. The stock’s 50-day simple moving average is $68.45 and its two-hundred day simple moving average is $73.18. nVent Electric plc has a 52-week low of $45.60 and a 52-week high of $86.57.

nVent Electric (NYSE:NVT) last announced its earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.01). nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The firm had revenue of $880.30 million during the quarter, compared to analysts’ expectations of $892.89 million. During the same period in the previous year, the business posted $0.77 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Analysts expect that nVent Electric plc will post 3.26 EPS for the current year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Friday, October 18th. nVent Electric’s dividend payout ratio is 22.22%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Royal Bank of Canada reduced their price objective on nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Barclays reduced their price objective on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Finally, KeyCorp lifted their price objective on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $85.67.

Insider Buying and Selling

In other news, Director Herbert K. Parker acquired 7,566 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were purchased at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the transaction, the director now directly owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Herbert K. Parker acquired 7,566 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were purchased at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the transaction, the director now directly owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lynnette R. Heath sold 8,242 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total transaction of $496,662.92. Following the sale, the executive vice president now owns 30,432 shares in the company, valued at $1,833,832.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.

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.