XTX Topco Ltd Raises Stake in nVent Electric PLC (NYSE:NVT)

XTX Topco Ltd boosted its holdings in shares of nVent Electric PLC (NYSE:NVT – Free Report) by 192.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,284 shares of the company’s stock after acquiring an additional 8,080 shares during the period. XTX Topco Ltd’s holdings in nVent Electric were worth $644,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Quadrant Capital Group LLC lifted its position in nVent Electric by 4.1% during the 4th quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company’s stock valued at $259,000 after acquiring an additional 150 shares during the period. Utah Retirement Systems lifted its position in nVent Electric by 2.3% during the 4th quarter. Utah Retirement Systems now owns 8,923 shares of the company’s stock valued at $608,000 after acquiring an additional 200 shares during the period. Hancock Whitney Corp lifted its position in nVent Electric by 1.4% during the 4th quarter. Hancock Whitney Corp now owns 15,031 shares of the company’s stock valued at $1,025,000 after acquiring an additional 206 shares during the period. Portside Wealth Group LLC lifted its position in nVent Electric by 3.2% during the 1st quarter. Portside Wealth Group LLC now owns 7,152 shares of the company’s stock valued at $375,000 after acquiring an additional 219 shares during the period. Finally, Parallel Advisors LLC lifted its position in nVent Electric by 15.6% during the 1st quarter. Parallel Advisors LLC now owns 1,702 shares of the company’s stock valued at $89,000 after acquiring an additional 230 shares during the period. 90.05% of the stock is owned by hedge funds and other institutional investors.

nVent Electric Stock Performance

Shares of NVT stock opened at $89.65 on Wednesday. The company has a 50 day moving average price of $73.45 and a 200-day moving average price of $64.35. nVent Electric PLC has a 52 week low of $41.71 and a 52 week high of $91.52. The firm has a market capitalization of $14.43 billion, a PE ratio of 25.54, a P/E/G ratio of 1.69 and a beta of 1.35. The company has a quick ratio of 1.20, a current ratio of 1.67 and a debt-to-equity ratio of 0.50.

nVent Electric (NYSE:NVT – Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.07. nVent Electric had a net margin of 17.72% and a return on equity of 13.36%. The firm had revenue of $963.10 million during the quarter, compared to analyst estimates of $906.96 million. During the same period in the previous year, the business posted $0.82 earnings per share. The business’s revenue for the quarter was up 30.1% on a year-over-year basis. As a group, equities research analysts expect that nVent Electric PLC will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Saturday, January 1st were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. nVent Electric’s dividend payout ratio (DPR) is presently 22.79%.

Analyst Upgrades and Downgrades

NVT has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of nVent Electric from a “hold” rating to a “buy” rating in a research note on Saturday, July 12th. Royal Bank Of Canada raised their price objective on shares of nVent Electric from $85.00 to $102.00 and gave the company an “outperform” rating in a research note on Monday. Barclays raised their price objective on shares of nVent Electric from $74.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, July 9th. The Goldman Sachs Group raised their price objective on shares of nVent Electric from $78.00 to $87.00 and gave the company a “buy” rating in a research note on Monday, July 7th. Finally, Citigroup raised their price objective on shares of nVent Electric from $69.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $87.00.

Read Our Latest Analysis on NVT

Insider Activity

In related news, EVP Lynnette R. Heath sold 4,041 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $61.35, for a total value of $247,915.35. Following the transaction, the executive vice president owned 32,665 shares of the company’s stock, valued at approximately $2,003,997.75. This trade represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.50% of the company’s stock.

nVent Electric Company Profile

(Free Report)

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.