Handelsbanken Fonder AB Acquires 428,190 Shares of nVent Electric plc (NYSE:NVT)

Handelsbanken Fonder AB increased its holdings in nVent Electric plc (NYSE:NVT) by 870.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 477,390 shares of the company’s stock after acquiring an additional 428,190 shares during the quarter. Handelsbanken Fonder AB’s holdings in nVent Electric were worth $28,209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of NVT. Vontobel Holding Ltd. purchased a new stake in nVent Electric during the 3rd quarter valued at about $432,000. CWM LLC grew its position in nVent Electric by 82.3% during the 3rd quarter. CWM LLC now owns 2,850 shares of the company’s stock valued at $151,000 after purchasing an additional 1,287 shares during the last quarter. IFP Advisors Inc grew its position in nVent Electric by 2,003.0% during the 3rd quarter. IFP Advisors Inc now owns 3,533 shares of the company’s stock valued at $187,000 after purchasing an additional 3,365 shares during the last quarter. PFG Advisors grew its position in nVent Electric by 7.8% during the 3rd quarter. PFG Advisors now owns 7,037 shares of the company’s stock valued at $373,000 after purchasing an additional 508 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in nVent Electric by 160.6% during the 3rd quarter. SG Americas Securities LLC now owns 31,658 shares of the company’s stock valued at $1,678,000 after purchasing an additional 19,509 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at nVent Electric

In related news, insider Michael B. Faulconer sold 10,961 shares of the firm’s stock in a transaction on 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 $2,229,228.97. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other nVent Electric news, insider Michael B. Faulconer sold 10,961 shares of nVent Electric stock in a transaction on 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 $2,229,228.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Beth Wozniak sold 198,211 shares of nVent Electric stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the transaction, the chief executive officer now directly owns 342 shares of the company’s stock, valued at $21,987.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 400,252 shares of company stock valued at $25,713,777. 2.50% of the stock is owned by corporate insiders.

nVent Electric Trading Down 0.7 %

nVent Electric stock opened at $71.15 on Tuesday. The stock has a market cap of $11.81 billion, a P/E ratio of 21.11, a PEG ratio of 1.54 and a beta of 1.35. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.22. nVent Electric plc has a 1 year low of $40.19 and a 1 year high of $78.98. The firm’s 50 day moving average price is $70.63 and its 200-day moving average price is $60.63.

nVent Electric (NYSE:NVT) last released its quarterly earnings data 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. The firm had revenue of $861.20 million for the quarter, compared to analysts’ expectations of $866.90 million. nVent Electric had a net margin of 17.38% and a return on equity of 17.53%. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 earnings per share. On average, equities analysts predict that nVent Electric plc will post 3.24 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, April 25th. nVent Electric’s payout ratio is currently 22.55%.

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.