nVent Electric plc (NYSE:NVT) Shares Acquired by Exchange Traded Concepts LLC

13 Oct 2024, 12:34 by Sarita Garza · The Markets Daily

Exchange Traded Concepts LLC raised its holdings in shares of nVent Electric plc (NYSE:NVT – Free Report) by 18.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 185,801 shares of the company’s stock after purchasing an additional 28,285 shares during the quarter. Exchange Traded Concepts LLC owned 0.11% of nVent Electric worth $13,054,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NVT. Banque Cantonale Vaudoise acquired a new stake in shares of nVent Electric during the first quarter worth approximately $26,000. Livelsberger Financial Advisory acquired a new position in nVent Electric during the 4th quarter worth $28,000. UMB Bank n.a. increased its position in shares of nVent Electric by 280.0% in the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after purchasing an additional 308 shares during the last quarter. ORG Partners LLC acquired a new stake in shares of nVent Electric in the 2nd quarter valued at about $31,000. Finally, Rise Advisors LLC acquired a new stake in shares of nVent Electric in the 1st quarter valued at about $32,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Royal Bank of Canada lowered their price objective on nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Barclays lowered their price target on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Finally, KeyCorp upgraded nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 price objective on the stock in a research note on Wednesday, September 4th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $85.00.

Check Out Our Latest Stock Report on NVT

nVent Electric Stock Up 1.1 %

NYSE:NVT opened at $72.87 on Friday. The company has a current ratio of 2.17, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53. The stock has a 50 day moving average of $66.57 and a 200-day moving average of $73.26. The firm has a market capitalization of $12.11 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 1.47 and a beta of 1.27. nVent Electric plc has a 52 week low of $45.60 and a 52 week high of $86.57.

nVent Electric (NYSE:NVT – Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The company had revenue of $880.30 million for the quarter, compared to the consensus estimate of $892.89 million. nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. nVent Electric’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.77 earnings per share. Analysts predict that nVent Electric plc will post 3.26 EPS for the current year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be given a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.76 annualized dividend and a yield of 1.04%. nVent Electric’s dividend payout ratio is presently 22.22%.

Insider Buying and Selling at nVent Electric

In other news, Director Herbert K. Parker purchased 7,566 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were bought at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the purchase, the director now owns 34,524 shares of the company’s stock, valued at $2,268,572.04. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the completion of the transaction, the insider now owns 19,766 shares in the company, valued at approximately $1,251,978.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Herbert K. Parker purchased 7,566 shares of the stock in a transaction dated Thursday, August 15th. The shares were acquired at an average cost of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the acquisition, the director now directly owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 2.50% of the stock is currently owned by company insiders.

nVent Electric Profile

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