Quadrature Capital Ltd Acquires New Position in nVent Electric plc (NYSE:NVT)

Quadrature Capital Ltd acquired a new stake in nVent Electric plc (NYSE:NVT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 17,230 shares of the company’s stock, valued at approximately $1,018,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Livelsberger Financial Advisory acquired a new stake in shares of nVent Electric in the fourth quarter valued at about $28,000. PNC Financial Services Group Inc. lifted its stake in shares of nVent Electric by 7.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 93,334 shares of the company’s stock valued at $5,515,000 after purchasing an additional 6,858 shares during the period. Richardson Financial Services Inc. acquired a new stake in shares of nVent Electric in the fourth quarter valued at about $82,000. Goldman Sachs Group Inc. lifted its stake in shares of nVent Electric by 50.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,633,421 shares of the company’s stock valued at $96,519,000 after purchasing an additional 547,624 shares during the period. Finally, V Square Quantitative Management LLC acquired a new stake in shares of nVent Electric in the fourth quarter valued at about $577,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analysts Set New Price Targets

NVT has been the subject of a number of research reports. The Goldman Sachs Group lifted their target price on shares of nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Royal Bank of Canada cut their target price on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of nVent Electric in a research report on Monday, March 11th. They set a “buy” rating and a $83.00 target price for the company. Citigroup lifted their target price on shares of nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Finally, Barclays lifted their target price on shares of nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $89.00.

nVent Electric Stock Performance

Shares of NYSE NVT opened at $78.32 on Friday. The company has a market cap of $13.00 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 1.84 and a beta of 1.31. nVent Electric plc has a 12 month low of $45.60 and a 12 month high of $86.57. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.99 and a quick ratio of 1.35. The company has a 50-day simple moving average of $78.20 and a 200-day simple moving average of $68.84.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Friday, May 3rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. The business had revenue of $874.60 million during the quarter, compared to the consensus estimate of $864.14 million. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 earnings per share. On average, equities analysts anticipate that nVent Electric plc will post 3.27 earnings per share for the current year.

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.76 dividend on an annualized basis and a yield of 0.97%. nVent Electric’s payout ratio is 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.