GAMMA Investing LLC Invests $56,000 in nVent Electric plc (NYSE:NVT)

GAMMA Investing LLC acquired a new position in shares of nVent Electric plc (NYSE:NVT) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 939 shares of the company’s stock, valued at approximately $56,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Quent Capital LLC increased its position in shares of nVent Electric by 123.2% during the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after purchasing an additional 234 shares in the last quarter. HM Payson & Co. purchased a new stake in nVent Electric in the third quarter valued at about $26,000. Arlington Trust Co LLC acquired a new position in shares of nVent Electric during the third quarter valued at about $30,000. Pacific Center for Financial Services acquired a new position in shares of nVent Electric during the third quarter valued at about $32,000. Finally, Baystate Wealth Management LLC purchased a new position in shares of nVent Electric in the 3rd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Citigroup upped their price target on shares of nVent Electric from $71.00 to $91.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Royal Bank of Canada raised their target price on nVent Electric from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft began coverage on nVent Electric in a research report on Monday, March 11th. They set a “buy” rating and a $83.00 price target for the company. Barclays increased their price objective on nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Finally, The Goldman Sachs Group upped their target price on nVent Electric from $69.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, March 15th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, nVent Electric currently has a consensus rating of “Moderate Buy” and an average target price of $81.60.

nVent Electric Stock Performance

NYSE NVT opened at $71.09 on Thursday. nVent Electric plc has a fifty-two week low of $40.22 and a fifty-two week high of $78.98. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.82. The firm has a market capitalization of $11.80 billion, a P/E ratio of 21.10, a PEG ratio of 1.62 and a beta of 1.35. The stock has a 50-day simple moving average of $72.09 and a two-hundred day simple moving average of $61.58.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.03. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. The company had revenue of $861.20 million during the quarter, compared to analysts’ expectations of $866.90 million. During the same period last year, the business earned $0.66 earnings per share. nVent Electric’s quarterly revenue was up 16.1% on a year-over-year basis. On average, equities analysts forecast that nVent Electric plc will post 3.24 earnings per share for the current year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Thursday, April 25th. nVent Electric’s dividend payout ratio (DPR) is presently 22.55%.

Insider Activity at nVent Electric

In other nVent Electric news, Director Randall J. Hogan sold 184,572 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $64.03, for a total value of $11,818,145.16. Following the completion of the transaction, the director now owns 8,277 shares in the company, valued at $529,976.31. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Randall J. Hogan sold 184,572 shares of nVent Electric stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $64.03, for a total value of $11,818,145.16. Following the completion of the transaction, the director now owns 8,277 shares in the company, valued at approximately $529,976.31. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jerry W. Burris sold 4,008 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $63.39, for a total value of $254,067.12. Following the completion of the transaction, the director now directly owns 43,072 shares of the company’s stock, valued at approximately $2,730,334.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 400,252 shares of company stock worth $25,713,777. 2.50% of the stock is owned by company insiders.

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.