nVent Electric PLC $NVT Shares Acquired by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp raised its position in shares of nVent Electric PLC (NYSE:NVT) by 357.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,956 shares of the company’s stock after buying an additional 10,903 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in nVent Electric were worth $1,377,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC raised its position in shares of nVent Electric by 33.1% during the 1st quarter. AQR Capital Management LLC now owns 94,968 shares of the company’s stock valued at $4,841,000 after acquiring an additional 23,606 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of nVent Electric by 575.6% during the first quarter. Jones Financial Companies Lllp now owns 8,803 shares of the company’s stock worth $461,000 after purchasing an additional 7,500 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of nVent Electric by 436.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,072 shares of the company’s stock worth $56,000 after buying an additional 872 shares during the last quarter. HB Wealth Management LLC boosted its holdings in shares of nVent Electric by 2.1% in the 2nd quarter. HB Wealth Management LLC now owns 10,002 shares of the company’s stock valued at $733,000 after buying an additional 203 shares during the period. Finally, PFG Investments LLC grew its position in shares of nVent Electric by 2.7% during the 2nd quarter. PFG Investments LLC now owns 5,020 shares of the company’s stock valued at $368,000 after buying an additional 132 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Insider Activity

In related news, CEO Beth Wozniak sold 4,137 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $110.35, for a total value of $456,517.95. Following the sale, the chief executive officer directly owned 47,984 shares in the company, valued at $5,295,034.40. The trade was a 7.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Greg Scheu sold 5,591 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $104.04, for a total transaction of $581,687.64. Following the completion of the sale, the director owned 14,348 shares of the company’s stock, valued at approximately $1,492,765.92. This trade represents a 28.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 163,228 shares of company stock valued at $18,345,001 over the last quarter. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

NVT has been the subject of a number of research reports. Weiss Ratings restated a “buy (b-)” rating on shares of nVent Electric in a research note on Monday, December 29th. UBS Group initiated coverage on nVent Electric in a research report on Thursday, November 20th. They set a “buy” rating and a $128.00 price objective for the company. Roth Mkm reaffirmed a “buy” rating and issued a $130.00 target price (up from $115.00) on shares of nVent Electric in a research report on Monday, November 3rd. Citigroup raised their target price on nVent Electric from $114.00 to $131.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Finally, KeyCorp upped their price target on shares of nVent Electric from $103.00 to $114.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Nine research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, nVent Electric has a consensus rating of “Buy” and an average price target of $123.63.

nVent Electric Trading Down 2.9%

Shares of NVT stock opened at $112.25 on Friday. nVent Electric PLC has a 1 year low of $41.71 and a 1 year high of $117.52. The firm has a market capitalization of $18.11 billion, a PE ratio of 30.92, a price-to-earnings-growth ratio of 1.24 and a beta of 1.34. The stock has a fifty day moving average of $106.45 and a two-hundred day moving average of $99.03. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.11 and a current ratio of 1.57.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Friday, October 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. nVent Electric had a return on equity of 14.29% and a net margin of 16.83%.The company’s quarterly revenue was up 34.8% compared to the same quarter last year. During the same period last year, the company earned $0.63 earnings per share. As a group, research analysts expect that nVent Electric PLC will post 3.04 EPS for the current year.

nVent Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 23rd will be paid a dividend of $0.21 per share. This is an increase from nVent Electric’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, January 23rd. nVent Electric’s dividend payout ratio (DPR) is 23.14%.

nVent Electric Profile

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.