nVent Electric plc (NYSE:NVT) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its stake in nVent Electric plc (NYSE:NVT) by 27.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,994 shares of the company’s stock after purchasing an additional 429 shares during the quarter. GAMMA Investing LLC’s holdings in nVent Electric were worth $136,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Private Advisor Group LLC boosted its holdings in nVent Electric by 23.4% in the 2nd quarter. Private Advisor Group LLC now owns 8,140 shares of the company’s stock worth $624,000 after buying an additional 1,542 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of nVent Electric in the second quarter worth approximately $34,000. Choreo LLC acquired a new stake in shares of nVent Electric in the second quarter worth approximately $266,000. Daiwa Securities Group Inc. purchased a new stake in shares of nVent Electric during the second quarter worth approximately $1,080,000. Finally, Headlands Technologies LLC acquired a new position in nVent Electric in the 2nd quarter valued at $179,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Down 0.8 %

NVT stock opened at $69.85 on Friday. The company’s 50 day moving average price is $73.54 and its 200 day moving average price is $71.51. The firm has a market capitalization of $11.51 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 3.86 and a beta of 1.27. nVent Electric plc has a fifty-two week low of $55.19 and a fifty-two week high of $86.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83.

nVent Electric (NYSE:NVT) last released 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 firm had revenue of $782.00 million for the quarter, compared to analysts’ expectations of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. nVent Electric’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $0.84 earnings per share. On average, equities research analysts anticipate that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be paid a dividend of $0.20 per share. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.80 annualized dividend and a yield of 1.15%. nVent Electric’s payout ratio is presently 23.46%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NVT. Citigroup upped their target price on shares of nVent Electric from $78.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Royal Bank of Canada upped their price objective on shares of nVent Electric from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. KeyCorp raised their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Barclays upped their price target on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $86.33.

Insider Activity at nVent Electric

In other nVent Electric news, CAO Randolph A. Wacker sold 8,022 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the transaction, the chief accounting officer now owns 25,993 shares of the company’s stock, valued at approximately $1,972,088.91. This trade represents a 23.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jerry W. Burris sold 6,558 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were 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 directly owns 45,040 shares of the company’s stock, valued at $3,603,200. The trade was 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 valued at $7,365,956 over the last three months. 2.50% of the stock is owned by corporate insiders.

About nVent Electric

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.