nVent Electric plc (NYSE:NVT) Shares Bought by Vontobel Holding Ltd.

Vontobel Holding Ltd. grew its holdings in nVent Electric plc (NYSE:NVT) by 217.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,874 shares of the company’s stock after purchasing an additional 17,724 shares during the quarter. Vontobel Holding Ltd.’s holdings in nVent Electric were worth $1,529,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of NVT. Congress Asset Management Co. MA purchased a new position in nVent Electric in the 3rd quarter worth approximately $116,908,000. FMR LLC raised its position in shares of nVent Electric by 41.8% during the 3rd quarter. FMR LLC now owns 6,556,055 shares of the company’s stock valued at $347,405,000 after buying an additional 1,932,142 shares during the period. Norges Bank purchased a new stake in shares of nVent Electric during the 4th quarter valued at approximately $65,666,000. Massachusetts Financial Services Co. MA raised its position in shares of nVent Electric by 68.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,952,040 shares of the company’s stock valued at $209,419,000 after buying an additional 1,604,534 shares during the period. Finally, Robeco Schweiz AG raised its position in shares of nVent Electric by 3,911.6% during the 3rd quarter. Robeco Schweiz AG now owns 1,315,800 shares of the company’s stock valued at $69,724,000 after buying an additional 1,283,000 shares during the period. 90.05% of the stock is owned by hedge funds and other institutional investors.

nVent Electric Stock Up 0.1 %

Shares of NYSE NVT opened at $71.64 on Friday. The firm has a market cap of $11.89 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 1.54 and a beta of 1.35. The company has a quick ratio of 1.22, a current ratio of 1.82 and a debt-to-equity ratio of 0.56. nVent Electric plc has a 52-week low of $40.19 and a 52-week high of $78.98. The business’s 50 day moving average is $70.48 and its two-hundred day moving average is $60.37.

nVent Electric (NYSE:NVT) last announced its earnings results on Tuesday, February 6th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. The company had revenue of $861.20 million for the quarter, compared to analyst estimates of $866.90 million. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 earnings per share. Research analysts predict that nVent Electric plc will post 3.24 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be paid a $0.19 dividend. The ex-dividend date is Thursday, April 25th. This represents a $0.76 annualized dividend and a dividend yield of 1.06%. nVent Electric’s dividend payout ratio (DPR) is 22.55%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Barclays lifted their price target on shares of nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada lifted their price target on shares of nVent Electric from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of nVent Electric in a research report on Monday, March 11th. They set a “buy” rating and a $83.00 price target on the stock. Citigroup lifted their price target on shares of nVent Electric from $71.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, The Goldman Sachs Group boosted their target price on nVent Electric from $69.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, March 15th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $81.60.

Insiders Place Their Bets

In other nVent Electric news, insider Michael B. Faulconer sold 10,961 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $67.33, for a total value of $738,004.13. Following the completion of the transaction, the insider now owns 33,109 shares in the company, valued at $2,229,228.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Joseph A. Ruzynski sold 2,500 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $64.23, for a total transaction of $160,575.00. Following the completion of the transaction, the insider now owns 36,013 shares in the company, valued at $2,313,114.99. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael B. Faulconer sold 10,961 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $67.33, for a total transaction of $738,004.13. Following the transaction, the insider now owns 33,109 shares of the company’s stock, valued at approximately $2,229,228.97. The disclosure for this sale can be found here. Insiders sold a total of 400,252 shares of company stock worth $25,713,777 over the last 90 days. Corporate insiders own 2.50% of the company’s stock.

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.