Skba Capital Management LLC bought a new stake in nVent Electric plc (NYSE:NVT – Get Rating) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,410 shares of the company’s stock, valued at approximately $358,000.
Other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its holdings in nVent Electric by 249.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,243 shares of the company’s stock valued at $67,000 after buying an additional 887 shares during the period. Signaturefd LLC raised its stake in nVent Electric by 41.1% in the fourth quarter. Signaturefd LLC now owns 1,955 shares of the company’s stock valued at $74,000 after purchasing an additional 569 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of nVent Electric by 92.9% in the fourth quarter. Quadrant Capital Group LLC now owns 2,170 shares of the company’s stock worth $82,000 after purchasing an additional 1,045 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in nVent Electric by 37.8% in the fourth quarter. Lazard Asset Management LLC now owns 3,900 shares of the company’s stock valued at $148,000 after acquiring an additional 1,070 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in shares of nVent Electric by 7.4% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 5,868 shares of the company’s stock worth $188,000 after purchasing an additional 402 shares during the last quarter. Institutional investors own 88.44% of the company’s stock.
In other nVent Electric news, Director Ronald Merriman sold 3,947 shares of the stock in a transaction on Monday, March 28th. The shares were sold at an average price of $35.17, for a total value of $138,815.99. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.10% of the stock is owned by corporate insiders.
nVent Electric (NYSE:NVT – Get Rating) last posted its quarterly earnings data on Friday, April 29th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.06. nVent Electric had a net margin of 10.56% and a return on equity of 13.68%. The firm had revenue of $694.70 million for the quarter, compared to analysts’ expectations of $627.83 million. During the same period in the previous year, the company posted $0.43 EPS. The company’s quarterly revenue was up 26.6% compared to the same quarter last year. Equities research analysts anticipate that nVent Electric plc will post 2.19 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 6th. Shareholders of record on Friday, April 22nd were paid a dividend of $0.175 per share. The ex-dividend date of this dividend was Thursday, April 21st. This represents a $0.70 annualized dividend and a yield of 2.09%. nVent Electric’s dividend payout ratio is 43.21%.
A number of research analysts recently commented on NVT shares. Barclays lowered their price target on nVent Electric from $51.00 to $48.00 and set an “overweight” rating on the stock in a report on Wednesday, February 9th. Zacks Investment Research upgraded nVent Electric from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Wednesday, May 4th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $42.60.
About nVent Electric (Get Rating)
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products worldwide. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to connect and protect critical electronics, communication, control, and power equipment; physical infrastructure solutions to host, connect, and protect server and network equipment; and indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals.
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