News

Aug 20, 2023

Bellecapital International Ltd. Makes New $279,000 Investment in nVent Electric plc (NYSE:NVT)

Bellecapital International Ltd. acquired a new position in shares of nVent Electric plc (NYSE:NVT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and

Bellecapital International Ltd. acquired a new position in shares of nVent Electric plc (NYSE:NVT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,500 shares of the company's stock, valued at approximately $279,000.

Other large investors have also recently added to or reduced their stakes in the company. Linden Thomas Advisory Services LLC boosted its stake in nVent Electric by 17.6% in the first quarter. Linden Thomas Advisory Services LLC now owns 20,425 shares of the company's stock worth $877,000 after purchasing an additional 3,056 shares in the last quarter. Mackenzie Financial Corp bought a new position in shares of nVent Electric in the 1st quarter valued at about $363,000. Inspire Investing LLC bought a new stake in shares of nVent Electric during the first quarter worth approximately $521,000. DekaBank Deutsche Girozentrale grew its stake in shares of nVent Electric by 153.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 131,934 shares of the company's stock worth $5,571,000 after purchasing an additional 79,863 shares during the period. Finally, AMF Tjanstepension AB grew its stake in shares of nVent Electric by 5.4% during the first quarter. AMF Tjanstepension AB now owns 1,755,659 shares of the company's stock worth $75,388,000 after purchasing an additional 90,363 shares during the period. 86.38% of the stock is owned by institutional investors.

A number of analysts have commented on the stock. The Goldman Sachs Group increased their price target on shares of nVent Electric from $55.00 to $58.00 in a research note on Tuesday, May 30th. Royal Bank of Canada upped their price objective on nVent Electric from $50.00 to $53.00 in a research note on Monday, May 22nd. Finally, Barclays upped their price objective on nVent Electric from $53.00 to $55.00 in a research note on Monday, May 1st.

Shares of NYSE:NVT traded up $0.99 during trading on Friday, reaching $50.60. 1,183,187 shares of the stock were exchanged, compared to its average volume of 1,022,701. nVent Electric plc has a 12 month low of $29.19 and a 12 month high of $51.94. The firm has a market cap of $8.38 billion, a PE ratio of 20.00 and a beta of 1.34. The stock has a 50-day moving average price of $45.68 and a 200-day moving average price of $43.25. The company has a current ratio of 2.08, a quick ratio of 1.47 and a debt-to-equity ratio of 0.38.

nVent Electric (NYSE:NVT - Free Report) last issued its quarterly earnings results on Friday, April 28th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.10. The business had revenue of $741.00 million during the quarter, compared to analysts' expectations of $740.70 million. nVent Electric had a return on equity of 16.08% and a net margin of 14.41%. The firm's revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 earnings per share. Research analysts expect that nVent Electric plc will post 2.78 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 4th. Investors of record on Friday, July 21st will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, July 20th. nVent Electric's dividend payout ratio (DPR) is presently 27.67%.

In related news, CFO Sara E. Zawoyski sold 2,649 shares of the business's stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $50.00, for a total value of $132,450.00. Following the completion of the transaction, the chief financial officer now owns 64,410 shares of the company's stock, valued at $3,220,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Sara E. Zawoyski sold 2,649 shares of nVent Electric stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $50.00, for a total value of $132,450.00. Following the transaction, the chief financial officer now directly owns 64,410 shares of the company's stock, valued at $3,220,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lynnette R. Heath sold 5,890 shares of the firm's stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $46.00, for a total value of $270,940.00. Following the completion of the sale, the executive vice president now directly owns 28,529 shares in the company, valued at $1,312,334. The disclosure for this sale can be found here. Insiders sold a total of 27,293 shares of company stock valued at $1,247,474 over the last quarter. 2.40% of the stock is owned by corporate insiders.

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products worldwide. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to connect and protect critical electronics, communication, control, and power equipment; physical infrastructure solutions to host, connect, and protect server and network equipment; indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals; and metallic and non-metallic enclosures, cabinets, sub racks, and backplanes.

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