Siemens Fonds Invest GmbH Takes Position in nVent Electric plc (NYSE:NVT)

Siemens Fonds Invest GmbH purchased a new stake in nVent Electric plc (NYSE:NVT) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 1,098 shares of the company’s stock, valued at approximately $75,000.

Several other large investors have also modified their holdings of the business. Capital Research Global Investors acquired a new position in shares of nVent Electric in the 4th quarter valued at $384,749,000. Norges Bank acquired a new position in nVent Electric during the 4th quarter worth about $197,434,000. William Blair Investment Management LLC lifted its stake in nVent Electric by 8.8% during the 4th quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company’s stock worth $176,630,000 after acquiring an additional 210,690 shares in the last quarter. Millennium Management LLC lifted its stake in nVent Electric by 743.7% during the 4th quarter. Millennium Management LLC now owns 2,215,624 shares of the company’s stock worth $151,017,000 after acquiring an additional 1,953,026 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in nVent Electric by 15.0% during the 4th quarter. Invesco Ltd. now owns 1,723,868 shares of the company’s stock worth $117,499,000 after acquiring an additional 224,657 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Insider Activity

In other news, EVP Lynnette R. Heath sold 4,041 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $61.35, for a total value of $247,915.35. Following the transaction, the executive vice president now owns 32,665 shares in the company, valued at approximately $2,003,997.75. This represents a 11.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Royal Bank of Canada increased their target price on nVent Electric from $73.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, May 5th. Barclays increased their target price on nVent Electric from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. The Goldman Sachs Group decreased their target price on nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Citigroup decreased their target price on nVent Electric from $85.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Monday, March 17th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, nVent Electric has an average rating of “Buy” and an average target price of $70.00.

nVent Electric Price Performance

NVT stock opened at $67.54 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The firm has a market capitalization of $11.12 billion, a P/E ratio of 34.46, a P/E/G ratio of 1.48 and a beta of 1.24. The business’s 50-day moving average is $55.10 and its two-hundred day moving average is $64.57. nVent Electric plc has a 1 year low of $41.71 and a 1 year high of $86.57.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. The company had revenue of $809.30 million for the quarter, compared to analyst estimates of $790.74 million. During the same quarter last year, the company earned $0.78 EPS. nVent Electric’s revenue for the quarter was up 10.5% compared to the same quarter last year. Analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.18%. nVent Electric’s payout ratio is currently 22.86%.

nVent Electric 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.