Temasek Holdings Private Ltd Raises Position in nVent Electric plc (NYSE:NVT)

Temasek Holdings Private Ltd raised its position in shares of nVent Electric plc (NYSE:NVT) by 224.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150,383 shares of the company’s stock after acquiring an additional 103,995 shares during the quarter. Temasek Holdings Private Ltd owned approximately 0.09% of nVent Electric worth $10,250,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in NVT. Crews Bank & Trust purchased a new stake in shares of nVent Electric during the fourth quarter worth $26,000. Raleigh Capital Management Inc. grew its position in shares of nVent Electric by 547.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock valued at $51,000 after purchasing an additional 635 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of nVent Electric by 26.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock valued at $53,000 after purchasing an additional 162 shares during the last quarter. Blue Trust Inc. lifted its position in nVent Electric by 243.5% during the fourth quarter. Blue Trust Inc. now owns 869 shares of the company’s stock worth $61,000 after buying an additional 616 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in nVent Electric during the fourth quarter worth approximately $65,000. 90.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NVT has been the topic of several analyst reports. Barclays lifted their price target on nVent Electric from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. The Goldman Sachs Group dropped their price target on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. CL King raised shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Monday, March 17th. Citigroup lowered their price objective on nVent Electric from $85.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, KeyCorp lifted their target price on nVent Electric from $60.00 to $72.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $70.00.

Insider Transactions at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total transaction of $247,915.35. Following the completion of the sale, the executive vice president now directly owns 32,665 shares of the company’s stock, valued at $2,003,997.75. This represents a 11.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.80% of the company’s stock.

nVent Electric Price Performance

NVT opened at $67.54 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The firm has a market cap of $11.12 billion, a price-to-earnings ratio of 34.46, a PEG ratio of 1.48 and a beta of 1.24. The stock’s 50-day moving average price is $55.10 and its 200 day moving average price is $64.64. nVent Electric plc has a 12-month low of $41.71 and a 12-month high of $86.57.

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

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.18%. nVent Electric’s dividend payout ratio (DPR) 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.