Running Oak Capital LLC Grows Stake in nVent Electric plc (NYSE:NVT)

Running Oak Capital LLC raised its position in nVent Electric plc (NYSE:NVT) by 0.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 203,808 shares of the company’s stock after purchasing an additional 1,646 shares during the period. nVent Electric comprises approximately 1.8% of Running Oak Capital LLC’s portfolio, making the stock its 25th biggest holding. Running Oak Capital LLC owned 0.12% of nVent Electric worth $13,892,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in NVT. Larson Financial Group LLC increased its holdings in nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of nVent Electric in the third quarter valued at approximately $29,000. UMB Bank n.a. raised its position in shares of nVent Electric by 280.0% during the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after purchasing an additional 308 shares during the last quarter. Anchor Investment Management LLC lifted its stake in nVent Electric by 94.0% in the 2nd quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock valued at $44,000 after buying an additional 280 shares in the last quarter. Finally, Huntington National Bank grew its holdings in nVent Electric by 57.3% during the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after buying an additional 223 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NVT. KeyCorp upped their price objective on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Royal Bank of Canada upped their target price on shares of nVent Electric from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. 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 report on Thursday, December 5th. Finally, Citigroup reduced their price objective 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. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $86.17.

Insider Activity at nVent Electric

In other nVent Electric news, Director Jerry W. Burris sold 6,558 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the transaction, the director now directly owns 45,040 shares of the company’s stock, valued at $3,603,200. This trade represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Randolph A. Wacker sold 8,022 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total value of $608,629.14. Following the completion of the sale, the chief accounting officer now directly owns 25,993 shares of the company’s stock, valued at $1,972,088.91. The trade was a 23.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,382 shares of company stock worth $7,365,956. 2.50% of the stock is currently owned by corporate insiders.

nVent Electric Price Performance

nVent Electric stock opened at $74.81 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. The company has a market cap of $12.33 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 3.49 and a beta of 1.27. nVent Electric plc has a 1 year low of $56.44 and a 1 year high of $86.57. The firm has a 50 day moving average price of $73.12 and a 200 day moving average price of $71.18.

nVent Electric (NYSE:NVT) last issued its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The firm had revenue of $782.00 million during the quarter, compared to analysts’ expectations of $937.37 million. During the same period last year, the business posted $0.84 earnings per share. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. Sell-side analysts predict that nVent Electric plc will post 2.49 earnings per share for the current year.

nVent Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.07%. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, January 17th. nVent Electric’s payout ratio is 23.46%.

nVent Electric 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.