News

Aug 22, 2023

Nordea Investment Management AB Takes $1.95 Million Position in nVent Electric plc (NYSE:NVT)

Nordea Investment Management AB purchased a new stake in shares of nVent Electric plc (NYSE:NVT - Free Report) in the first quarter, according to the company in its most recent filing with the SEC.

Nordea Investment Management AB purchased a new stake in shares of nVent Electric plc (NYSE:NVT - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 45,877 shares of the company's stock, valued at approximately $1,950,000.

Other large investors have also recently modified their holdings of the company. Fifth Third Bancorp lifted its position in nVent Electric by 56.4% in the 4th quarter. Fifth Third Bancorp now owns 818 shares of the company's stock worth $31,000 after buying an additional 295 shares during the last quarter. Affiance Financial LLC bought a new stake in nVent Electric in the 4th quarter worth approximately $90,000. CWM LLC lifted its position in nVent Electric by 395.4% in the 4th quarter. CWM LLC now owns 2,824 shares of the company's stock worth $109,000 after buying an additional 2,254 shares during the last quarter. Mendota Financial Group LLC bought a new stake in nVent Electric in the 4th quarter worth approximately $157,000. Finally, Captrust Financial Advisors lifted its position in nVent Electric by 16.2% in the 2nd quarter. Captrust Financial Advisors now owns 5,375 shares of the company's stock worth $168,000 after buying an additional 751 shares during the last quarter. Institutional investors own 86.38% of the company's stock.

A number of research firms recently weighed in on NVT. Barclays boosted their target price on nVent Electric from $53.00 to $55.00 in a research report on Monday, May 1st. The Goldman Sachs Group boosted their target price on nVent Electric from $55.00 to $58.00 in a research report on Tuesday, May 30th. Finally, Royal Bank of Canada boosted their target price on nVent Electric from $50.00 to $53.00 in a research report on Monday, May 22nd.

In other news, CFO Sara E. Zawoyski sold 2,649 shares of the business's stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $50.00, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Sara E. Zawoyski sold 2,649 shares of the business's stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $50.00, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Beth Wozniak sold 10,028 shares of the business's stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $46.00, for a total value of $461,288.00. Following the transaction, the chief executive officer now directly owns 82,478 shares in the company, valued at $3,793,988. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,293 shares of company stock valued at $1,247,474. Company insiders own 2.40% of the company's stock.

Shares of nVent Electric stock opened at $49.64 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.08 and a quick ratio of 1.47. The business's 50 day simple moving average is $45.51 and its two-hundred day simple moving average is $43.12. The stock has a market capitalization of $8.22 billion, a P/E ratio of 19.62 and a beta of 1.34. nVent Electric plc has a one year low of $29.19 and a one year high of $51.94.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 4th. Stockholders of record on Friday, July 21st will be paid a dividend of $0.175 per share. The ex-dividend date is Thursday, July 20th. This represents a $0.70 annualized dividend and a dividend yield of 1.41%. nVent Electric's dividend payout ratio (DPR) is presently 27.67%.

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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