Dark Forest Capital Management LP Invests $1.28 Million in nVent Electric plc (NYSE:NVT)

Dark Forest Capital Management LP bought a new stake in nVent Electric plc (NYSE:NVT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 18,759 shares of the company’s stock, valued at approximately $1,279,000.

Other large investors have also recently bought and sold shares of the company. Nordea Investment Management AB boosted its stake in shares of nVent Electric by 16.9% during the fourth quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock valued at $6,378,000 after acquiring an additional 13,483 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in nVent Electric in the 4th quarter valued at about $1,520,000. TT International Asset Management LTD boosted its stake in shares of nVent Electric by 20.4% during the 4th quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock worth $7,388,000 after purchasing an additional 18,376 shares during the last quarter. LVM Capital Management Ltd. MI grew its holdings in shares of nVent Electric by 8.1% during the fourth quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock worth $10,307,000 after buying an additional 11,349 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of nVent Electric by 12.4% in the fourth quarter. Pacer Advisors Inc. now owns 55,790 shares of the company’s stock valued at $3,803,000 after buying an additional 6,175 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Wall Street Analysts Forecast Growth

NVT has been the subject of several recent analyst reports. Seaport Res Ptn raised shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Royal Bank of Canada lifted their price objective on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Citigroup reduced their target price on nVent Electric from $85.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Barclays lowered their price target on nVent Electric from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Finally, CL King upgraded shares of 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. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $69.00.

nVent Electric Stock Performance

nVent Electric stock opened at $50.23 on Wednesday. The company has a market cap of $8.27 billion, a price-to-earnings ratio of 25.63, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. nVent Electric plc has a 12 month low of $41.71 and a 12 month high of $86.57. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The stock’s 50-day moving average is $55.25 and its 200-day moving average is $66.32.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. Equities analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be issued a $0.20 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.80 annualized dividend and a yield of 1.59%. nVent Electric’s dividend payout ratio is currently 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.