XTX Topco Ltd Boosts Holdings in nVent Electric plc (NYSE:NVT)

XTX Topco Ltd lifted its stake in nVent Electric plc (NYSE:NVT) by 185.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,841 shares of the company’s stock after buying an additional 9,640 shares during the period. XTX Topco Ltd’s holdings in nVent Electric were worth $637,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in nVent Electric by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 17,799,850 shares of the company’s stock worth $619,079,000 after purchasing an additional 302,124 shares during the period. BlackRock Inc. lifted its stake in shares of nVent Electric by 0.8% in the 1st quarter. BlackRock Inc. now owns 15,251,841 shares of the company’s stock worth $654,914,000 after acquiring an additional 128,168 shares during the period. Franklin Resources Inc. lifted its stake in shares of nVent Electric by 0.5% in the 4th quarter. Franklin Resources Inc. now owns 5,618,501 shares of the company’s stock worth $216,144,000 after acquiring an additional 28,456 shares during the period. State Street Corp lifted its stake in shares of nVent Electric by 3.3% in the 1st quarter. State Street Corp now owns 4,800,623 shares of the company’s stock worth $166,966,000 after acquiring an additional 152,277 shares during the period. Finally, FMR LLC lifted its stake in shares of nVent Electric by 130.5% in the 1st quarter. FMR LLC now owns 3,276,257 shares of the company’s stock worth $140,682,000 after acquiring an additional 1,854,955 shares during the period. Institutional investors and hedge funds own 87.76% of the company’s stock.

nVent Electric Stock Up 0.6 %

NVT stock opened at $57.54 on Monday. The company has a market cap of $9.54 billion, a P/E ratio of 21.15 and a beta of 1.32. nVent Electric plc has a 52 week low of $30.48 and a 52 week high of $58.80. The company’s 50-day moving average price is $53.65 and its 200 day moving average price is $47.52. The company has a current ratio of 2.09, a quick ratio of 1.32 and a debt-to-equity ratio of 0.67.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Friday, July 28th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.09. The firm had revenue of $803.00 million for the quarter, compared to the consensus estimate of $809.05 million. nVent Electric had a net margin of 15.14% and a return on equity of 16.85%. The firm’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.57 earnings per share. On average, research analysts expect that nVent Electric plc will post 2.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Seaport Res Ptn restated a “neutral” rating on shares of nVent Electric in a research note on Monday, August 7th. William Blair assumed coverage on shares of nVent Electric in a research note on Thursday, July 27th. They issued an “outperform” rating for the company. Barclays raised their target price on shares of nVent Electric from $55.00 to $69.00 and gave the stock an “overweight” rating in a research note on Monday, July 31st. The Goldman Sachs Group raised their target price on shares of nVent Electric from $55.00 to $58.00 in a research note on Tuesday, May 30th. Finally, Royal Bank of Canada boosted their price objective on shares of nVent Electric from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, July 31st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.25.

Insiders Place Their Bets

In other nVent Electric news, CFO Sara E. Zawoyski sold 2,649 shares of nVent Electric stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $50.00, for a total transaction of $132,450.00. Following the completion of the transaction, the chief financial officer now owns 64,410 shares in the company, valued at $3,220,500. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other nVent Electric news, CAO Randolph A. Wacker sold 1,519 shares of nVent Electric stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $55.21, for a total transaction of $83,863.99. Following the completion of the transaction, the chief accounting officer now owns 20,366 shares in the company, valued at $1,124,406.86. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sara E. Zawoyski sold 2,649 shares of nVent Electric stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $50.00, for a total transaction of $132,450.00. Following the transaction, the chief financial officer now owns 64,410 shares of the company’s stock, valued at approximately $3,220,500. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,879 shares of company stock worth $473,817. Insiders own 2.40% of the company’s stock.

About nVent Electric

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; indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals; and metallic and non-metallic enclosures, cabinets, sub racks, and backplanes.