Lingohr Asset Management GmbH Buys 48,144 Shares of nVent Electric PLC $NVT

Lingohr Asset Management GmbH raised its stake in nVent Electric PLC (NYSE:NVT) by 482.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,127 shares of the company’s stock after purchasing an additional 48,144 shares during the period. Lingohr Asset Management GmbH’s holdings in nVent Electric were worth $5,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Continuum Advisory LLC purchased a new stake in shares of nVent Electric during the third quarter worth about $1,630,000. Nordea Investment Management AB boosted its stake in nVent Electric by 10.0% in the 3rd quarter. Nordea Investment Management AB now owns 129,655 shares of the company’s stock worth $12,671,000 after purchasing an additional 11,804 shares in the last quarter. Pacer Advisors Inc. grew its position in nVent Electric by 51.0% during the 3rd quarter. Pacer Advisors Inc. now owns 30,535 shares of the company’s stock worth $3,012,000 after purchasing an additional 10,307 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in nVent Electric by 173.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 52,856 shares of the company’s stock valued at $5,214,000 after purchasing an additional 33,549 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of nVent Electric by 12.4% in the second quarter. Russell Investments Group Ltd. now owns 189,480 shares of the company’s stock worth $13,880,000 after buying an additional 20,917 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $136.00 price objective on shares of nVent Electric in a report on Thursday, January 15th. Barclays raised their target price on nVent Electric from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Citigroup increased their price objective on nVent Electric from $114.00 to $131.00 and gave the company a “buy” rating in a report on Monday, November 3rd. KeyCorp raised their price objective on nVent Electric from $103.00 to $114.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Finally, The Goldman Sachs Group lifted their target price on nVent Electric from $111.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Nine equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $123.63.

nVent Electric Stock Down 2.9%

Shares of NVT stock opened at $112.25 on Friday. nVent Electric PLC has a twelve month low of $41.71 and a twelve month high of $117.52. The stock has a market cap of $18.11 billion, a P/E ratio of 30.92, a P/E/G ratio of 1.24 and a beta of 1.34. The stock has a 50 day moving average of $106.45 and a 200 day moving average of $98.86. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.44.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Friday, October 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. nVent Electric had a net margin of 16.83% and a return on equity of 14.29%. The business’s revenue was up 34.8% on a year-over-year basis. During the same quarter last year, the company earned $0.63 EPS. As a group, sell-side analysts expect that nVent Electric PLC will post 3.04 EPS for the current year.

nVent Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 23rd will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.7%. This is a boost from nVent Electric’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, January 23rd. nVent Electric’s payout ratio is currently 23.14%.

Insider Activity at nVent Electric

In other news, CEO Beth Wozniak sold 4,137 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $110.35, for a total transaction of $456,517.95. Following the sale, the chief executive officer directly owned 47,984 shares of the company’s stock, valued at $5,295,034.40. This represents a 7.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lynnette R. Heath sold 32,943 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $113.04, for a total value of $3,723,876.72. Following the sale, the executive vice president owned 30,562 shares in the company, valued at $3,454,728.48. This trade represents a 51.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 163,228 shares of company stock valued at $18,345,001 in the last quarter. 1.80% of the stock is currently owned by insiders.

nVent Electric Company Profile

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.