First Hawaiian Bank acquired a new stake in nVent Electric plc (NYSE:NVT – Get Rating) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 35,182 shares of the company’s stock, valued at approximately $1,337,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. State of Alaska Department of Revenue increased its holdings in shares of nVent Electric by 35.5% during the 4th quarter. State of Alaska Department of Revenue now owns 37,504 shares of the company’s stock valued at $1,424,000 after purchasing an additional 9,819 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in nVent Electric by 9.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 14,634 shares of the company’s stock valued at $556,000 after acquiring an additional 1,320 shares during the period. Hudson Bay Capital Management LP boosted its stake in nVent Electric by 0.3% during the 3rd quarter. Hudson Bay Capital Management LP now owns 246,397 shares of the company’s stock worth $7,966,000 after purchasing an additional 800 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in nVent Electric by 10.0% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 324,665 shares of the company’s stock worth $10,496,000 after purchasing an additional 29,458 shares during the last quarter. Finally, Balyasny Asset Management LLC acquired a new stake in nVent Electric during the 3rd quarter worth $4,464,000. 84.45% of the stock is owned by institutional investors.
In related news, insider Joseph A. Ruzynski sold 4,765 shares of the company’s stock in a transaction that occurred on Tuesday, December 28th. The stock was sold at an average price of $37.83, for a total value of $180,259.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.00% of the company’s stock.
Shares of nVent Electric stock opened at $33.66 on Monday. nVent Electric plc has a one year low of $26.57 and a one year high of $39.53. The firm has a market capitalization of $5.59 billion, a P/E ratio of 20.91 and a beta of 1.55. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.93 and a current ratio of 1.43. The stock’s 50-day moving average is $35.40.
nVent Electric (NYSE:NVT – Get Rating) last announced its quarterly earnings data on Tuesday, February 8th. The company reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.02. nVent Electric had a return on equity of 13.35% and a net margin of 11.08%. The business had revenue of $669.00 million during the quarter, compared to the consensus estimate of $606.40 million. During the same period in the previous year, the company posted $0.43 earnings per share. The business’s revenue for the quarter was up 28.4% on a year-over-year basis. On average, analysts forecast that nVent Electric plc will post 2.18 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 6th. Stockholders of record on Friday, April 22nd will be given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Thursday, April 21st. nVent Electric’s dividend payout ratio is presently 43.48%.
Several equities research analysts have issued reports on NVT shares. Zacks Investment Research raised shares of nVent Electric from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Friday, February 11th. Vertical Research raised shares of nVent Electric from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Monday, January 3rd. Finally, Barclays lowered their price target on shares of nVent Electric from $51.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 9th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nVent Electric has a consensus rating of “Buy” and a consensus target price of $43.00.
nVent Electric Profile (Get Rating)
nVent Electric Plc engages in the provision of electrical connection and protection solutions. It operates through the following segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions. The Enclosures segment offers solutions that protect, connect, and manage heat in critical electronics, communication, control, and power equipment.
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