Raleigh Capital Management Inc. Grows Position in nVent Electric plc (NYSE:NVT)

Raleigh Capital Management Inc. lifted its position in shares of nVent Electric plc (NYSE:NVT) by 547.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 751 shares of the company’s stock after purchasing an additional 635 shares during the quarter. Raleigh Capital Management Inc.’s holdings in nVent Electric were worth $51,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NVT. Hsbc Holdings PLC lifted its stake in shares of nVent Electric by 6.7% during the second quarter. Hsbc Holdings PLC now owns 15,188 shares of the company’s stock worth $1,159,000 after purchasing an additional 950 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of nVent Electric by 57.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,467 shares of the company’s stock valued at $112,000 after buying an additional 535 shares during the period. Canada Pension Plan Investment Board acquired a new position in nVent Electric during the 2nd quarter worth approximately $61,000. Pacer Advisors Inc. boosted its holdings in nVent Electric by 3.9% in the 2nd quarter. Pacer Advisors Inc. now owns 35,474 shares of the company’s stock worth $2,718,000 after acquiring an additional 1,343 shares during the period. Finally, Sei Investments Co. grew its position in nVent Electric by 6.3% in the second quarter. Sei Investments Co. now owns 125,269 shares of the company’s stock valued at $9,598,000 after acquiring an additional 7,419 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NVT. Royal Bank of Canada upped their target price on shares of nVent Electric from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Citigroup reduced their price target on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. KeyCorp lifted their price objective on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Barclays raised their price target on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $86.17.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, Director Jerry W. Burris sold 6,558 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the sale, the director now directly owns 45,040 shares of the company’s stock, valued at $3,603,200. This trade represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Randolph A. Wacker sold 8,022 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total value of $608,629.14. Following the completion of the sale, the chief accounting officer now owns 25,993 shares in the company, valued at $1,972,088.91. The trade was a 23.58 % 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 worth $7,365,956 over the last ninety days. Company insiders own 2.50% of the company’s stock.

nVent Electric Stock Performance

NVT stock opened at $75.20 on Friday. The stock’s 50 day simple moving average is $73.06 and its 200 day simple moving average is $71.16. nVent Electric plc has a 12-month low of $56.44 and a 12-month high of $86.57. The firm has a market cap of $12.39 billion, a P/E ratio of 22.05, a P/E/G ratio of 3.47 and a beta of 1.27. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68.

nVent Electric (NYSE:NVT) last released its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The business had revenue of $782.00 million for the quarter, compared to the consensus estimate of $937.37 million. During the same quarter in the previous year, the firm earned $0.84 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities research analysts predict that nVent Electric plc will post 2.49 EPS for the current year.

nVent Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.80 dividend on an annualized basis and a yield of 1.06%. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. nVent Electric’s dividend payout ratio (DPR) is currently 23.46%.

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.