Alpha DNA Investment Management LLC Boosts Stock Position in nVent Electric plc (NYSE:NVT)

Alpha DNA Investment Management LLC boosted its stake in shares of nVent Electric plc (NYSE:NVT) by 13.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,540 shares of the company’s stock after acquiring an additional 906 shares during the quarter. Alpha DNA Investment Management LLC’s holdings in nVent Electric were worth $530,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of NVT. Federated Hermes Inc. grew its position in nVent Electric by 6.6% in the 2nd quarter. Federated Hermes Inc. now owns 410,902 shares of the company’s stock valued at $31,479,000 after buying an additional 25,482 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of nVent Electric by 18.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 306,319 shares of the company’s stock worth $23,099,000 after acquiring an additional 46,748 shares during the period. Cetera Investment Advisers raised its holdings in nVent Electric by 143.8% during the first quarter. Cetera Investment Advisers now owns 46,103 shares of the company’s stock worth $3,476,000 after purchasing an additional 27,196 shares in the last quarter. Gateway Investment Advisers LLC purchased a new position in nVent Electric during the second quarter worth about $1,608,000. Finally, Virtu Financial LLC acquired a new stake in nVent Electric in the first quarter valued at about $1,125,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other nVent Electric news, CAO Randolph A. Wacker sold 8,022 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the completion of the transaction, the chief accounting officer now owns 25,993 shares of the company’s stock, valued at approximately $1,972,088.91. This trade represents a 23.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jon D. Lammers sold 67,297 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total value of $5,119,282.79. Following the completion of the sale, the executive vice president now owns 58,121 shares in the company, valued at $4,421,264.47. This represents a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,824 shares of company stock worth $6,841,316 in the last ninety days. Insiders own 2.50% of the company’s stock.

nVent Electric Stock Up 0.5 %

NVT opened at $78.34 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. The company has a market cap of $12.91 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 4.01 and a beta of 1.26. nVent Electric plc has a one year low of $52.26 and a one year high of $86.57. The business’s fifty day moving average is $72.62 and its two-hundred day moving average is $73.28.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $937.37 million. During the same period in the previous year, the company posted $0.84 earnings per share. nVent Electric’s revenue was up 9.4% on a year-over-year basis. Analysts anticipate that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.97%. nVent Electric’s dividend payout ratio (DPR) is 22.29%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NVT. Royal Bank of Canada cut their target price on nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Barclays cut their price objective on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Finally, KeyCorp upped their price target on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $85.33.

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.