nVent Electric PLC $NVT Position Boosted by Lido Advisors LLC

Lido Advisors LLC boosted its holdings in nVent Electric PLC (NYSE:NVT) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 156,559 shares of the company’s stock after purchasing an additional 7,431 shares during the period. Lido Advisors LLC owned approximately 0.10% of nVent Electric worth $25,108,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its position in nVent Electric by 4.9% during the second quarter. State Street Corp now owns 5,313,122 shares of the company’s stock valued at $901,159,000 after buying an additional 250,248 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of nVent Electric by 3.5% in the first quarter. Bank of New York Mellon Corp now owns 2,018,579 shares of the company’s stock worth $238,758,000 after buying an additional 68,818 shares during the period. First Trust Advisors LP increased its holdings in shares of nVent Electric by 32.8% in the first quarter. First Trust Advisors LP now owns 1,696,369 shares of the company’s stock worth $200,647,000 after buying an additional 419,239 shares during the period. Amundi increased its holdings in shares of nVent Electric by 146.8% in the first quarter. Amundi now owns 1,092,802 shares of the company’s stock worth $129,257,000 after buying an additional 649,992 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of nVent Electric by 31.6% in the 1st quarter. Royal Bank of Canada now owns 719,484 shares of the company’s stock valued at $85,101,000 after acquiring an additional 172,742 shares during the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at nVent Electric

In other nVent Electric news, Director Herbert Parker purchased 3,000 shares of nVent Electric stock in a transaction that occurred on Monday, November 9th. The shares were bought at an average price of $113.14 per share, for a total transaction of $339,420.00. Following the acquisition, the director directly owned 19,853 shares in the company, valued at approximately $2,246,168.42. This trade represents a 17.80% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is currently owned by corporate insiders.

nVent Electric Price Performance

Shares of nVent Electric stock opened at $116.61 on Thursday. The firm has a market cap of $18.84 billion, a PE ratio of 28.10, a price-to-earnings-growth ratio of 0.57 and a beta of 1.39. nVent Electric PLC has a 12-month low of $93.22 and a 12-month high of $184.64. The company has a quick ratio of 1.93, a current ratio of 2.40 and a debt-to-equity ratio of 0.53. The company’s fifty day simple moving average is $146.83 and its two-hundred day simple moving average is $144.54.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Friday, October 30th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.12. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.43 billion. nVent Electric had a net margin of 12.84% and a return on equity of 20.82%. The company’s revenue for the quarter was up 43.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 earnings per share. As a group, equities analysts expect that nVent Electric PLC will post 5.36 EPS for the current year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 6th. Investors of record on Friday, October 23rd were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, October 23rd. This represents a $0.84 annualized dividend and a dividend yield of 0.7%. nVent Electric’s dividend payout ratio (DPR) is presently 20.24%.

Analyst Upgrades and Downgrades

NVT has been the subject of several analyst reports. KeyCorp restated an “overweight” rating on shares of nVent Electric in a report on Monday, November 2nd. Citigroup decreased their price target on nVent Electric from $228.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, November 2nd. UBS Group reiterated a “buy” rating on shares of nVent Electric in a research report on Tuesday, August 25th. The Goldman Sachs Group reiterated a “buy” rating and issued a $200.00 price objective on shares of nVent Electric in a research report on Saturday, August 1st. Finally, Wall Street Zen lowered nVent Electric from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 17th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $197.12.

nVent Electric Profile

nVent Electric plc designs and manufactures products and solutions that protect and connect electrical systems. Its offerings include electrical enclosures, cable management and fastening products, grounding and bonding solutions, and systems for managing heat in electrical and industrial applications. The company serves customers across industries such as data centers, energy, infrastructure, commercial construction and manufacturing. Its products are marketed under brands including Hoffman, ERICO, CADDY, Raychem and Schroff, and it serves customers in markets around the world. nVent became an independent, publicly traded company in 2018 after its separation from Pentair.