nVent Electric plc (NYSE:NVT) Shares Sold by Swiss National Bank

Swiss National Bank lessened its holdings in nVent Electric plc (NYSE:NVT) by 10.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 326,687 shares of the company’s stock after selling 37,500 shares during the quarter. Swiss National Bank’s holdings in nVent Electric were worth $19,304,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. LGT Group Foundation raised its stake in shares of nVent Electric by 14.6% in the 4th quarter. LGT Group Foundation now owns 104,127 shares of the company’s stock valued at $6,174,000 after acquiring an additional 13,277 shares during the period. Mach 1 Financial Group LLC purchased a new position in shares of nVent Electric in the 4th quarter valued at $219,000. Norden Group LLC raised its stake in shares of nVent Electric by 79.8% in the 4th quarter. Norden Group LLC now owns 14,566 shares of the company’s stock valued at $861,000 after acquiring an additional 6,463 shares during the period. Van ECK Associates Corp purchased a new stake in nVent Electric during the 4th quarter worth $2,501,000. Finally, Intrust Bank NA purchased a new stake in nVent Electric during the 4th quarter worth $242,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Analyst Ratings Changes

NVT has been the topic of several analyst reports. The Goldman Sachs Group lifted their price target on shares of nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a research note on Monday. Royal Bank of Canada dropped their price target on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a research note on Monday. Citigroup lifted their price target on shares of nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of nVent Electric in a research note on Monday, March 11th. They set a “buy” rating and a $83.00 price target on the stock. Finally, Barclays lifted their price target on shares of nVent Electric from $74.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $87.00.

Insider Activity

In other news, insider Michael B. Faulconer sold 10,961 shares of nVent Electric stock in a transaction dated 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 directly owns 33,109 shares of the company’s stock, valued at approximately $2,229,228.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other nVent Electric news, insider Michael B. Faulconer sold 10,961 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $67.33, for a total transaction of $738,004.13. Following the completion of the transaction, the insider now directly owns 33,109 shares of the company’s stock, valued at approximately $2,229,228.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jerry W. Burris sold 4,008 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $63.39, for a total transaction of $254,067.12. Following the transaction, the director now directly owns 43,072 shares of the company’s stock, valued at $2,730,334.08. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

nVent Electric Price Performance

NVT opened at $82.07 on Friday. The company has a 50-day moving average of $73.41 and a 200-day moving average of $62.65. The company has a market capitalization of $13.63 billion, a P/E ratio of 23.93, a PEG ratio of 1.63 and a beta of 1.35. nVent Electric plc has a 1-year low of $40.22 and a 1-year high of $82.30. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.35 and a current ratio of 1.99.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Friday, May 3rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.73 by $0.04. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The business had revenue of $874.60 million during the quarter, compared to analyst estimates of $864.14 million. During the same period in the previous year, the business posted $0.67 EPS. The company’s quarterly revenue was up 18.0% on a year-over-year basis. Equities analysts expect that nVent Electric plc will post 3.25 EPS for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Thursday, April 25th. nVent Electric’s dividend payout ratio (DPR) is presently 22.16%.

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.