Regents Gate Capital LLP Invests $6.49 Million in nVent Electric plc (NYSE:NVT)

Regents Gate Capital LLP acquired a new stake in nVent Electric plc (NYSE:NVT) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 95,248 shares of the company’s stock, valued at approximately $6,492,000. nVent Electric accounts for 2.6% of Regents Gate Capital LLP’s holdings, making the stock its 15th biggest holding. Regents Gate Capital LLP owned approximately 0.06% of nVent Electric at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Swedbank AB acquired a new position in shares of nVent Electric in the third quarter valued at approximately $110,663,000. Franklin Resources Inc. boosted its position in nVent Electric by 22.1% in the 3rd quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after buying an additional 1,269,335 shares during the period. Clean Energy Transition LLP grew its stake in shares of nVent Electric by 56.5% in the third quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock worth $158,411,000 after acquiring an additional 813,909 shares in the last quarter. Artemis Investment Management LLP increased its position in shares of nVent Electric by 235.9% during the fourth quarter. Artemis Investment Management LLP now owns 763,075 shares of the company’s stock worth $52,011,000 after acquiring an additional 535,881 shares during the period. Finally, Janus Henderson Group PLC raised its stake in shares of nVent Electric by 23.6% in the third quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock valued at $171,492,000 after acquiring an additional 466,042 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Insider Activity at nVent Electric

In related news, CFO Sara E. Zawoyski sold 14,505 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the completion of the sale, the chief financial officer now owns 62,215 shares in the company, valued at $4,775,623.40. This represents a 18.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jerry W. Burris sold 6,558 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the sale, the director now directly owns 45,040 shares of the company’s stock, valued at $3,603,200. The trade was a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NVT shares. KeyCorp boosted their target price on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Citigroup cut their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Barclays lifted their price target on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Royal Bank of Canada boosted their price target on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $86.33.

nVent Electric Stock Performance

Shares of nVent Electric stock opened at $67.85 on Monday. The company has a quick ratio of 1.36, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. nVent Electric plc has a 52 week low of $56.44 and a 52 week high of $86.57. The firm’s 50 day moving average is $70.68 and its two-hundred day moving average is $70.24. The firm has a market capitalization of $11.18 billion, a P/E ratio of 34.62, a P/E/G ratio of 3.01 and a beta of 1.26.

nVent Electric (NYSE:NVT) last posted its earnings results on Thursday, February 6th. The company reported $0.59 EPS 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%. Research analysts forecast that nVent Electric plc will post 3.03 EPS for the current fiscal year.

nVent Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were issued a $0.20 dividend. This is an increase from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, January 17th. nVent Electric’s payout ratio is presently 40.82%.

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.