Seelaus Asset Management LLC Boosts Stake in nVent Electric plc (NYSE:NVT)

Seelaus Asset Management LLC lifted its holdings in shares of nVent Electric plc (NYSE:NVT) by 18.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,337 shares of the company’s stock after buying an additional 1,320 shares during the period. Seelaus Asset Management LLC’s holdings in nVent Electric were worth $568,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Nordea Investment Management AB grew its stake in shares of nVent Electric by 16.9% in the fourth quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock worth $6,378,000 after acquiring an additional 13,483 shares during the period. Geode Capital Management LLC grew its position in nVent Electric by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after purchasing an additional 29,794 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in nVent Electric during the 4th quarter valued at $1,520,000. TT International Asset Management LTD raised its stake in nVent Electric by 20.4% during the 4th quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock valued at $7,388,000 after buying an additional 18,376 shares during the last quarter. Finally, LVM Capital Management Ltd. MI lifted its holdings in shares of nVent Electric by 8.1% during the 4th quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock valued at $10,307,000 after buying an additional 11,349 shares during the period. 90.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NVT has been the subject of a number of research reports. KeyCorp upped their price objective on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Barclays upped their price target on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Citigroup cut their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Royal Bank of Canada lifted their price target on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $86.33.

Insider Transactions at nVent Electric

In other nVent Electric news, Director Jerry W. Burris sold 6,558 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the sale, the director now owns 45,040 shares in the company, valued at $3,603,200. The trade was a 12.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sara E. Zawoyski sold 14,505 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total value of $1,113,403.80. Following the transaction, the chief financial officer now owns 62,215 shares of the company’s stock, valued at approximately $4,775,623.40. The trade was a 18.91 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

nVent Electric Price Performance

Shares of NYSE:NVT opened at $67.85 on Friday. The company has a market capitalization of $11.18 billion, a P/E ratio of 34.62, a P/E/G ratio of 3.01 and a beta of 1.26. nVent Electric plc has a 1-year low of $56.44 and a 1-year high of $86.57. The firm’s 50 day simple moving average is $70.68 and its two-hundred day simple moving average is $70.29. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.36.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. Research analysts expect that nVent Electric plc will post 3.03 EPS for the current fiscal year.

nVent Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were given a dividend of $0.20 per share. The ex-dividend date was Friday, January 17th. This represents a $0.80 annualized dividend and a dividend yield of 1.18%. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. nVent Electric’s dividend payout ratio (DPR) is presently 40.82%.

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.