Vontobel Holding Ltd. Increases Holdings in nVent Electric plc (NYSE:NVT)

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

A number of other large investors have also added to or reduced their stakes in NVT. Congress Asset Management Co. MA purchased a new position in nVent Electric during the third quarter valued at $116,908,000. FMR LLC raised its stake in shares of nVent Electric by 41.8% in the third quarter. FMR LLC now owns 6,556,055 shares of the company’s stock worth $347,405,000 after purchasing an additional 1,932,142 shares during the last quarter. Norges Bank purchased a new position in shares of nVent Electric in the fourth quarter worth $65,666,000. Massachusetts Financial Services Co. MA raised its stake in shares of nVent Electric by 68.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,952,040 shares of the company’s stock worth $209,419,000 after purchasing an additional 1,604,534 shares during the last quarter. Finally, Robeco Schweiz AG raised its stake in shares of nVent Electric by 3,911.6% in the third quarter. Robeco Schweiz AG now owns 1,315,800 shares of the company’s stock worth $69,724,000 after purchasing an additional 1,283,000 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Performance

Shares of NVT opened at $71.64 on Friday. The business has a fifty day moving average of $70.48 and a 200 day moving average of $60.37. nVent Electric plc has a one year low of $40.19 and a one year high of $78.98. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.22. The firm has a market capitalization of $11.89 billion, a P/E ratio of 21.26, a PEG ratio of 1.54 and a beta of 1.35.

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

nVent Electric Dividend Announcement

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

Analysts Set New Price Targets

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

Insider Transactions at nVent Electric

In other news, insider Joseph A. Ruzynski sold 2,500 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $64.23, for a total value of $160,575.00. Following the completion of the transaction, the insider now owns 36,013 shares of the company’s stock, valued at $2,313,114.99. The transaction was disclosed in a 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 dated Wednesday, February 7th. The stock was sold at an average price of $64.23, for a total value of $160,575.00. Following the sale, the insider now directly owns 36,013 shares in the company, valued at $2,313,114.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Beth Wozniak sold 198,211 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $64.29, for a total value of $12,742,985.19. Following the completion of the sale, the chief executive officer now owns 342 shares in the company, valued at $21,987.18. The disclosure for this sale can be found here. Insiders sold a total of 400,252 shares of company stock valued at $25,713,777 over the last 90 days. Company 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.