Dark Forest Capital Management LP Makes New $92,000 Investment in nVent Electric plc (NYSE:NVT)

Posted by Defense World Staff on Sep 8th, 2023

Dark Forest Capital Management LP bought a new position in nVent Electric plc (NYSE:NVT – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,144 shares of the company’s stock, valued at approximately $92,000.

Several other hedge funds and other institutional investors have also bought and sold shares of NVT. Raymond James Financial Services Advisors Inc. boosted its stake in shares of nVent Electric by 9.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,999 shares of the company’s stock valued at $383,000 after purchasing an additional 923 shares during the period. AlphaCrest Capital Management LLC boosted its stake in shares of nVent Electric by 36.8% during the first quarter. AlphaCrest Capital Management LLC now owns 11,498 shares of the company’s stock valued at $400,000 after purchasing an additional 3,093 shares during the period. Natixis Advisors L.P. boosted its stake in shares of nVent Electric by 15.4% during the first quarter. Natixis Advisors L.P. now owns 43,511 shares of the company’s stock valued at $1,514,000 after purchasing an additional 5,807 shares during the period. Bank of Montreal Can boosted its stake in shares of nVent Electric by 10.6% during the first quarter. Bank of Montreal Can now owns 21,601 shares of the company’s stock valued at $768,000 after purchasing an additional 2,072 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of nVent Electric by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 61,657 shares of the company’s stock valued at $2,144,000 after purchasing an additional 5,879 shares during the period. Hedge funds and other institutional investors own 87.76% of the company’s stock.

nVent Electric Trading Up 2.4 %

nVent Electric stock opened at $57.19 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.09 and a quick ratio of 1.32. nVent Electric plc has a one year low of $30.48 and a one year high of $57.49. The stock has a market capitalization of $9.48 billion, a PE ratio of 21.03 and a beta of 1.32. The business’s fifty day moving average is $53.53 and its 200 day moving average is $47.41.

nVent Electric (NYSE:NVT – Get Free Report) last announced its earnings results on Friday, July 28th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.09. The business had revenue of $803.00 million for the quarter, compared to analysts’ expectations of $809.05 million. nVent Electric had a return on equity of 16.85% and a net margin of 15.14%. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period last year, the firm posted $0.57 earnings per share. On average, sell-side analysts predict that nVent Electric plc will post 2.9 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NVT shares. The Goldman Sachs Group increased their price objective on nVent Electric from $55.00 to $58.00 in a research note on Tuesday, May 30th. Seaport Res Ptn restated a “neutral” rating on shares of nVent Electric in a report on Monday, August 7th. William Blair assumed coverage on nVent Electric in a report on Thursday, July 27th. They set an “outperform” rating for the company. Royal Bank of Canada upped their target price on nVent Electric from $57.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, July 31st. Finally, Barclays upped their target price on nVent Electric from $55.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, July 31st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $55.25.

View Our Latest Stock Report on NVT

Insider Transactions at nVent Electric

In related news, insider Joseph A. Ruzynski sold 4,711 shares of nVent Electric stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $54.66, for a total transaction of $257,503.26. Following the sale, the insider now owns 38,440 shares of the company’s stock, valued at approximately $2,101,130.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Joseph A. Ruzynski sold 4,711 shares of nVent Electric stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $54.66, for a total transaction of $257,503.26. Following the sale, the insider now owns 38,440 shares of the company’s stock, valued at approximately $2,101,130.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sara E. Zawoyski sold 2,649 shares of nVent Electric stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $50.00, for a total value of $132,450.00. Following the sale, the chief financial officer now directly owns 64,410 shares in the company, valued at approximately $3,220,500. The disclosure for this sale can be found here. Insiders have sold 8,879 shares of company stock valued at $473,817 over the last quarter. 2.40% of the stock is currently owned by company insiders.

nVent Electric Profile

(Free Report)

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products worldwide. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to connect and protect critical electronics, communication, control, and power equipment; physical infrastructure solutions to host, connect, and protect server and network equipment; indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals; and metallic and non-metallic enclosures, cabinets, sub racks, and backplanes.