Point72 Asia Singapore Pte. Ltd. Decreases Stock Position in nVent Electric plc (NYSE:NVT)

Point72 Asia Singapore Pte. Ltd. lessened its stake in nVent Electric plc (NYSE:NVT) by 67.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,200 shares of the company’s stock after selling 10,700 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in nVent Electric were worth $398,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NVT. Banque Cantonale Vaudoise acquired a new stake in shares of nVent Electric in the first quarter valued at approximately $26,000. Livelsberger Financial Advisory acquired a new stake in shares of nVent Electric in the fourth quarter valued at approximately $28,000. ORG Partners LLC acquired a new stake in shares of nVent Electric in the second quarter valued at approximately $31,000. Rise Advisors LLC acquired a new stake in shares of nVent Electric in the first quarter valued at approximately $32,000. Finally, First Foundation Advisors acquired a new stake in shares of nVent Electric in the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NVT. Barclays raised their target price on nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4th. Royal Bank of Canada cut their target price on nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, KeyCorp raised nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 target price for the company in a research note on Wednesday, September 4th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $86.50.

Insider Activity

In other news, Director Herbert K. Parker acquired 7,566 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $65.71 per share, with a total value of $497,161.86. Following the completion of the purchase, the director now owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Herbert K. Parker bought 7,566 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the acquisition, the director now owns 34,524 shares in the company, valued at approximately $2,268,572.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael B. Faulconer sold 20,004 shares of nVent Electric stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total value of $1,267,053.36. Following the completion of the transaction, the insider now owns 19,766 shares of the company’s stock, valued at $1,251,978.44. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

nVent Electric Trading Up 0.2 %

Shares of NYSE NVT opened at $69.66 on Thursday. nVent Electric plc has a twelve month low of $45.60 and a twelve month high of $86.57. The company has a current ratio of 2.17, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $66.92 and a 200-day simple moving average of $73.37. The stock has a market capitalization of $11.58 billion, a PE ratio of 20.31, a PEG ratio of 1.35 and a beta of 1.27.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The firm had revenue of $880.30 million during the quarter, compared to analyst estimates of $892.89 million. During the same period in the previous year, the firm posted $0.77 earnings per share. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, equities analysts forecast that nVent Electric plc will post 3.26 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a $0.19 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.09%. nVent Electric’s payout ratio is presently 22.16%.

nVent Electric Company Profile

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.