Eisler Capital Management Ltd. Buys New Position in nVent Electric plc (NYSE:NVT)

Eisler Capital Management Ltd. purchased a new position in nVent Electric plc (NYSE:NVT) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 124,560 shares of the company’s stock, valued at approximately $8,527,000.

Other large investors also recently modified their holdings of the company. Capital Research Global Investors bought a new stake in nVent Electric in the 4th quarter valued at $384,749,000. Norges Bank acquired a new stake in shares of nVent Electric during the 4th quarter worth approximately $197,434,000. Champlain Investment Partners LLC bought a new stake in shares of nVent Electric during the fourth quarter valued at approximately $86,738,000. Balyasny Asset Management L.P. lifted its position in nVent Electric by 16,062.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 875,197 shares of the company’s stock worth $59,653,000 after purchasing an additional 869,782 shares during the period. Finally, Pictet Asset Management Holding SA boosted its stake in nVent Electric by 3,186.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 711,343 shares of the company’s stock worth $48,485,000 after buying an additional 689,701 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NVT. Royal Bank of Canada lifted their target price on shares of nVent Electric from $73.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday. CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Monday, March 17th. KeyCorp increased their target price on nVent Electric from $60.00 to $72.00 and gave the stock an “overweight” rating in a report on Monday. Citigroup decreased their price target on nVent Electric from $85.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, The Goldman Sachs Group dropped their price objective on nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, nVent Electric currently has an average rating of “Buy” and a consensus target price of $70.00.

nVent Electric Stock Up 1.1 %

Shares of NVT opened at $60.81 on Friday. The company has a market capitalization of $10.01 billion, a P/E ratio of 31.03, a PEG ratio of 1.48 and a beta of 1.24. nVent Electric plc has a one year low of $41.71 and a one year high of $86.57. The business’s 50 day simple moving average is $53.73 and its 200-day simple moving average is $65.01. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Friday, May 2nd. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. The company had revenue of $809.30 million for the quarter, compared to analyst estimates of $790.74 million. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The business’s revenue was up 10.5% on a year-over-year basis. As a group, sell-side analysts predict that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s payout ratio is presently 22.86%.

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.