nVent Electric plc (NYSE:NVT) Shares Purchased by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. grew its stake in shares of nVent Electric plc (NYSE:NVT) by 547.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 751 shares of the company’s stock after purchasing an additional 635 shares during the period. Raleigh Capital Management Inc.’s holdings in nVent Electric were worth $51,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in NVT. Franklin Resources Inc. boosted its holdings in nVent Electric by 22.1% during the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock worth $527,374,000 after buying an additional 1,269,335 shares in the last quarter. State Street Corp boosted its stake in shares of nVent Electric by 0.9% during the 3rd quarter. State Street Corp now owns 5,031,623 shares of the company’s stock worth $353,522,000 after acquiring an additional 42,465 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of nVent Electric by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after acquiring an additional 29,794 shares during the period. Janus Henderson Group PLC increased its stake in nVent Electric by 23.6% in the 3rd quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock valued at $171,492,000 after purchasing an additional 466,042 shares in the last quarter. Finally, Clean Energy Transition LLP raised its holdings in nVent Electric by 56.5% during the third quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock worth $158,411,000 after purchasing an additional 813,909 shares during the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other nVent Electric 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 sale, the director now owns 45,040 shares in the company, valued at $3,603,200. The trade was a 12.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sara E. Zawoyski sold 14,505 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the transaction, the chief financial officer now owns 62,215 shares in the company, valued at approximately $4,775,623.40. The trade was a 18.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,382 shares of company stock valued at $7,365,956 over the last quarter. Company insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

NVT has been the topic of several research reports. Barclays upped their target price on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Royal Bank of Canada raised their target price on shares of nVent Electric from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. KeyCorp lifted their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, Citigroup lowered their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nVent Electric presently has a consensus rating of “Buy” and an average target price of $86.17.

nVent Electric Trading Down 0.3 %

Shares of NVT stock opened at $75.20 on Friday. nVent Electric plc has a twelve month low of $56.44 and a twelve month high of $86.57. The company has a market capitalization of $12.39 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 3.47 and a beta of 1.27. The firm has a 50-day moving average price of $73.06 and a 200 day moving average price of $71.16. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The firm had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. During the same period in the prior year, the firm earned $0.84 EPS. The business’s quarterly revenue was up 9.4% on a year-over-year basis. Research analysts forecast that nVent Electric plc will post 2.49 earnings per share for the current fiscal year.

nVent Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued 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 is Friday, January 17th. This represents a $0.80 annualized dividend and a dividend yield of 1.06%. nVent Electric’s dividend payout ratio (DPR) is 23.46%.

nVent Electric 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.