Point72 Asia Singapore Pte. Ltd. Increases Holdings in nVent Electric plc (NYSE:NVT)

Point72 Asia Singapore Pte. Ltd. increased its stake in nVent Electric plc (NYSE:NVT) by 34.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,986 shares of the company’s stock after acquiring an additional 1,786 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in nVent Electric were worth $491,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its holdings in shares of nVent Electric by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the period. UMB Bank n.a. boosted its stake in nVent Electric by 280.0% during the third quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after buying an additional 308 shares during the period. ORG Wealth Partners LLC bought a new position in nVent Electric during the third quarter valued at $29,000. ORG Partners LLC bought a new position in nVent Electric during the second quarter valued at $31,000. Finally, First Foundation Advisors purchased a new stake in shares of nVent Electric in the second quarter valued at $34,000. 90.05% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Jon D. Lammers sold 67,297 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total value of $5,119,282.79. Following the completion of the sale, the executive vice president now owns 58,121 shares of the company’s stock, valued at approximately $4,421,264.47. This represents a 53.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jerry W. Burris sold 6,558 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the transaction, the director now owns 45,040 shares in the company, valued at approximately $3,603,200. This represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,382 shares of company stock valued at $7,365,956 over the last three months. 2.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Barclays cut their price target on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Royal Bank of Canada reduced their price target on nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Finally, KeyCorp boosted their price objective on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $85.33.

nVent Electric Stock Performance

Shares of NYSE:NVT opened at $77.49 on Tuesday. The firm’s 50 day simple moving average is $73.72 and its 200-day simple moving average is $73.05. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. nVent Electric plc has a one year low of $53.49 and a one year high of $86.57. The firm has a market cap of $12.77 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 4.03 and a beta of 1.25.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The firm had revenue of $782.00 million for the quarter, compared to analysts’ expectations of $937.37 million. During the same quarter in the previous year, the business earned $0.84 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities analysts predict that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a $0.19 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 annualized dividend and a dividend yield of 0.98%. nVent Electric’s payout ratio is currently 22.29%.

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.