Charles Schwab Investment Management Inc. Grows Holdings in nVent Electric plc (NYSE:NVT)

Charles Schwab Investment Management Inc. boosted its holdings in nVent Electric plc (NYSE:NVT) by 0.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,035,463 shares of the company’s stock after purchasing an additional 3,599 shares during the period. Charles Schwab Investment Management Inc. owned about 0.63% of nVent Electric worth $72,752,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Swedbank AB acquired a new stake in shares of nVent Electric during the third quarter worth approximately $110,663,000. Millennium Management LLC grew its holdings in nVent Electric by 159.9% during the 2nd quarter. Millennium Management LLC now owns 1,346,576 shares of the company’s stock worth $103,161,000 after acquiring an additional 828,425 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of nVent Electric by 16.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock worth $374,201,000 after purchasing an additional 673,990 shares during the last quarter. HM Payson & Co. raised its stake in shares of nVent Electric by 109,496.5% in the 3rd quarter. HM Payson & Co. now owns 438,386 shares of the company’s stock valued at $30,801,000 after purchasing an additional 437,986 shares in the last quarter. Finally, DigitalBridge Group Inc. bought a new position in shares of nVent Electric during the second quarter worth about $21,291,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Stock Down 1.9 %

Shares of nVent Electric stock opened at $76.54 on Friday. nVent Electric plc has a twelve month low of $52.26 and a twelve month high of $86.57. The stock has a market capitalization of $12.62 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 4.03 and a beta of 1.26. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. The business’s 50 day simple moving average is $73.42 and its 200-day simple moving average is $73.22.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.18). The firm had revenue of $782.00 million for the quarter, compared to the consensus estimate of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.84 EPS. Equities research analysts forecast that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a dividend of $0.19 per share. The ex-dividend date was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.99%. nVent Electric’s dividend payout ratio (DPR) is presently 22.29%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NVT. Barclays reduced their target price on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Royal Bank of Canada reduced their price objective on nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Finally, KeyCorp increased their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Six equities research 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 $85.33.

Insider Transactions at nVent Electric

In related news, CAO Randolph A. Wacker sold 8,022 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total value of $608,629.14. Following the completion of the transaction, the chief accounting officer now owns 25,993 shares in the company, valued at $1,972,088.91. This represents a 23.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jerry W. Burris sold 6,558 shares of the firm’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 transaction, the director now directly owns 45,040 shares in the company, valued at approximately $3,603,200. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 96,382 shares of company stock worth $7,365,956. Company insiders own 2.50% of the company’s stock.

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.