Jefferies Financial Group Inc. Acquires New Shares in nVent Electric PLC $NVT

Jefferies Financial Group Inc. bought a new position in nVent Electric PLC (NYSE:NVT) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 236,860 shares of the company’s stock, valued at approximately $37,985,000.

Other hedge funds have also modified their holdings of the company. Livelsberger Financial Advisory bought a new position in shares of nVent Electric during the 3rd quarter worth approximately $28,000. Elevation Wealth Partners LLC grew its position in nVent Electric by 554.5% in the second quarter. Elevation Wealth Partners LLC now owns 216 shares of the company’s stock valued at $37,000 after acquiring an additional 183 shares during the period. Provenance Wealth Advisors LLC bought a new stake in nVent Electric in the third quarter valued at $36,000. MCF Advisors LLC grew its position in nVent Electric by 236.1% in the second quarter. MCF Advisors LLC now owns 242 shares of the company’s stock valued at $41,000 after acquiring an additional 170 shares during the period. Finally, Financial Consulate Inc. grew its position in nVent Electric by 1,431.2% in the second quarter. Financial Consulate Inc. now owns 245 shares of the company’s stock valued at $42,000 after acquiring an additional 229 shares during the period. 90.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. KeyCorp reiterated an “overweight” rating on shares of nVent Electric in a research note on Monday, November 2nd. Royal Bank Of Canada boosted their target price on shares of nVent Electric from $200.00 to $208.00 and gave the company an “outperform” rating in a research note on Wednesday, October 14th. Robert W. Baird increased their target price on shares of nVent Electric from $188.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. dropped their target price on shares of nVent Electric from $167.00 to $155.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Citigroup cut their price target on shares of nVent Electric from $228.00 to $200.00 and set a “buy” rating for the company in a report on Monday, November 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, nVent Electric presently has a consensus rating of “Buy” and a consensus target price of $197.12.

nVent Electric Trading Up 3.7%

Shares of NYSE NVT opened at $116.61 on Thursday. nVent Electric PLC has a 1-year low of $93.22 and a 1-year high of $184.64. The company has a market cap of $18.84 billion, a PE ratio of 28.10, a P/E/G ratio of 0.57 and a beta of 1.39. The company has a current ratio of 2.40, a quick ratio of 1.93 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average of $146.83 and a two-hundred day moving average of $144.54.

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

nVent Electric Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Herbert Parker acquired 3,000 shares of nVent Electric stock in a transaction on Monday, November 9th. The shares were purchased at an average price of $113.14 per share, with a total value of $339,420.00. Following the acquisition, the director owned 19,853 shares in the company, valued at $2,246,168.42. This 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 owned by company insiders.

About nVent Electric

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.