nVent Electric plc (NYSE:NVT) Shares Acquired by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC increased its stake in shares of nVent Electric plc (NYSE:NVT) by 257.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 17,495 shares of the company’s stock after acquiring an additional 12,595 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in nVent Electric were worth $1,340,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NVT. Banque Cantonale Vaudoise bought a new position in nVent Electric during the 1st quarter worth $26,000. Livelsberger Financial Advisory purchased a new stake in shares of nVent Electric during the fourth quarter valued at $28,000. ORG Partners LLC purchased a new stake in shares of nVent Electric during the second quarter valued at $31,000. Rise Advisors LLC purchased a new stake in shares of nVent Electric during the first quarter valued at $32,000. Finally, First Foundation Advisors acquired a new position in nVent Electric during the second quarter valued at $34,000. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Stock Down 2.1 %

Shares of NYSE:NVT opened at $68.81 on Wednesday. The firm has a market cap of $11.42 billion, a P/E ratio of 20.06, a P/E/G ratio of 1.35 and a beta of 1.27. The company has a quick ratio of 1.49, a current ratio of 2.17 and a debt-to-equity ratio of 0.53. nVent Electric plc has a 12-month low of $45.60 and a 12-month high of $86.57. The business has a fifty day simple moving average of $66.45 and a 200 day simple moving average of $73.40.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.01). The business had revenue of $880.30 million during the quarter, compared to the consensus estimate of $892.89 million. nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The business’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the business posted $0.77 earnings per share. Analysts predict that nVent Electric plc will post 3.26 earnings per share for the current year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be issued 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 1.10%. nVent Electric’s dividend payout ratio (DPR) is presently 22.16%.

Insider Buying and Selling at nVent Electric

In other news, EVP Lynnette R. Heath sold 8,242 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total transaction of $496,662.92. Following the completion of the transaction, the executive vice president now directly owns 30,432 shares in the company, valued at approximately $1,833,832.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Lynnette R. Heath sold 8,242 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total value of $496,662.92. Following the completion of the transaction, the executive vice president now directly owns 30,432 shares in the company, valued at $1,833,832.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Herbert K. Parker purchased 7,566 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were acquired at an average price of $65.71 per share, with a total value of $497,161.86. Following the completion of the transaction, the director now owns 34,524 shares of the company’s stock, valued at $2,268,572.04. The disclosure for this purchase can be found here. Insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

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

About nVent Electric

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.