Bridgewater Associates LP Acquires New Holdings in nVent Electric plc (NYSE:NVT)

Bridgewater Associates LP purchased a new stake in nVent Electric plc (NYSE:NVT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 25,353 shares of the company’s stock, valued at approximately $1,781,000.

A number of other institutional investors also recently modified their holdings of NVT. Price T Rowe Associates Inc. MD raised its position in shares of nVent Electric by 5.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 100,384 shares of the company’s stock valued at $7,569,000 after purchasing an additional 5,305 shares during the period. Cetera Investment Advisers grew its stake in shares of nVent Electric by 143.8% in the first quarter. Cetera Investment Advisers now owns 46,103 shares of the company’s stock worth $3,476,000 after acquiring an additional 27,196 shares during the last quarter. Cetera Advisors LLC grew its stake in shares of nVent Electric by 58.6% in the first quarter. Cetera Advisors LLC now owns 8,596 shares of the company’s stock worth $648,000 after acquiring an additional 3,177 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of nVent Electric by 15.7% in the first quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the company’s stock worth $145,000 after acquiring an additional 272 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of nVent Electric by 494.3% in the second quarter. Versant Capital Management Inc now owns 523 shares of the company’s stock worth $40,000 after acquiring an additional 435 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NVT shares. KeyCorp raised their price objective 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. Barclays lowered their price objective on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada lowered their price objective on shares of 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 equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $85.33.

Insider Activity at nVent Electric

In related news, Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction dated 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 transaction, 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sara E. Zawoyski sold 14,505 shares of nVent Electric stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total value of $1,113,403.80. Following the completion of the transaction, the chief financial officer now directly owns 62,215 shares of the company’s stock, valued at $4,775,623.40. This represents a 18.91 % 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 ninety days. 2.50% of the stock is owned by insiders.

nVent Electric Stock Up 2.3 %

NVT opened at $78.31 on Monday. The company has a market capitalization of $12.91 billion, a P/E ratio of 22.96, a P/E/G ratio of 4.03 and a beta of 1.26. The firm’s fifty day moving average price is $73.57 and its two-hundred day moving average price is $73.07. nVent Electric plc has a fifty-two week low of $52.70 and a fifty-two week high of $86.57. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The company had revenue of $782.00 million for the quarter, compared to the consensus estimate of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.84 earnings per share. On average, analysts anticipate that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a dividend of $0.19 per share. The ex-dividend date was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.97%. nVent Electric’s payout ratio is presently 22.29%.

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.