Nomura Holdings Inc. Purchases Shares of 23,725 nVent Electric plc (NYSE:NVT)

Nomura Holdings Inc. bought a new stake in shares of nVent Electric plc (NYSE:NVT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 23,725 shares of the company’s stock, valued at approximately $1,617,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Capital Research Global Investors bought a new stake in shares of nVent Electric during the 4th quarter valued at about $384,749,000. Norges Bank acquired a new position in nVent Electric during the 4th quarter worth approximately $197,434,000. William Blair Investment Management LLC raised its stake in nVent Electric by 8.8% during the 4th quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company’s stock worth $176,630,000 after buying an additional 210,690 shares during the period. Millennium Management LLC raised its stake in nVent Electric by 743.7% during the 4th quarter. Millennium Management LLC now owns 2,215,624 shares of the company’s stock worth $151,017,000 after buying an additional 1,953,026 shares during the period. Finally, Invesco Ltd. raised its stake in nVent Electric by 15.0% during the 4th quarter. Invesco Ltd. now owns 1,723,868 shares of the company’s stock worth $117,499,000 after buying an additional 224,657 shares during the period. Institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Performance

Shares of nVent Electric stock opened at $67.54 on Friday. The company has a market cap of $11.12 billion, a PE ratio of 34.46, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24. nVent Electric plc has a 52 week low of $41.71 and a 52 week high of $86.57. The business has a 50 day moving average price of $55.10 and a 200-day moving average price of $64.64. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Friday, May 2nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. The firm had revenue of $809.30 million during the quarter, compared to the consensus estimate of $790.74 million. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 earnings per share. Equities analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.18%. nVent Electric’s payout ratio is 22.86%.

Analyst Ratings Changes

A number of research firms recently weighed in on NVT. Royal Bank of Canada upped their price target on nVent Electric from $73.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, May 5th. Citigroup dropped their price target on nVent Electric from $85.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. KeyCorp upped their price target on nVent Electric from $60.00 to $72.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Finally, The Goldman Sachs Group dropped their price target on nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $70.00.

Insider Activity at nVent Electric

In related news, EVP Lynnette R. Heath sold 4,041 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total transaction of $247,915.35. Following the completion of the sale, the executive vice president now directly owns 32,665 shares of the company’s stock, valued at approximately $2,003,997.75. This trade represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by company insiders.

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.