Quantbot Technologies LP Buys 1,861 Shares of nVent Electric plc (NYSE:NVT)

Quantbot Technologies LP increased its stake in shares of nVent Electric plc (NYSE:NVT) by 5.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,947 shares of the company’s stock after acquiring an additional 1,861 shares during the quarter. Quantbot Technologies LP’s holdings in nVent Electric were worth $2,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Massachusetts Financial Services Co. MA grew its holdings in shares of nVent Electric by 16.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock worth $374,201,000 after purchasing an additional 673,990 shares during the last quarter. Boston Partners grew its holdings in nVent Electric by 3.2% in the 1st quarter. Boston Partners now owns 3,325,834 shares of the company’s stock worth $250,770,000 after acquiring an additional 102,643 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of nVent Electric by 1.7% during the third quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company’s stock valued at $123,891,000 after acquiring an additional 28,876 shares during the last quarter. Swedbank AB purchased a new stake in shares of nVent Electric during the third quarter worth about $110,663,000. Finally, Millennium Management LLC grew its stake in shares of nVent Electric by 159.9% in the second quarter. Millennium Management LLC now owns 1,346,576 shares of the company’s stock worth $103,161,000 after purchasing an additional 828,425 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NVT has been the subject of several research analyst reports. Royal Bank of Canada dropped their price objective on nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Barclays decreased their target price 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 target on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Six 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

In other news, EVP Jon D. Lammers sold 67,297 shares of nVent Electric stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total value of $5,119,282.79. Following the completion of the transaction, the executive vice president now owns 58,121 shares of the company’s stock, valued at $4,421,264.47. The trade was a 53.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jerry W. Burris sold 6,558 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the sale, the director now directly owns 45,040 shares in the company, valued at $3,603,200. This trade represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,382 shares of company stock worth $7,365,956. Insiders own 2.50% of the company’s stock.

nVent Electric Trading Down 1.9 %

NYSE NVT opened at $76.53 on Thursday. The firm has a market capitalization of $12.61 billion, a PE ratio of 22.44, a P/E/G ratio of 4.03 and a beta of 1.26. The stock’s 50 day moving average is $73.30 and its 200 day moving average is $73.20. nVent Electric plc has a twelve month low of $52.26 and a twelve month high of $86.57. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68.

nVent Electric (NYSE:NVT) last announced its 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). The business 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 business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 EPS. Research analysts forecast that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders 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 annualized dividend and a dividend yield of 0.99%. nVent Electric’s payout ratio is 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.