Charles Schwab Investment Management Inc. Buys 18,407 Shares of nVent Electric PLC (NYSE:NVT)

Charles Schwab Investment Management Inc. lifted its stake in shares of nVent Electric PLC (NYSE:NVT) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,051,632 shares of the company’s stock after acquiring an additional 18,407 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.64% of nVent Electric worth $55,127,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in NVT. Capital Research Global Investors bought a new stake in shares of nVent Electric during the fourth quarter worth $384,749,000. Millennium Management LLC increased its position in shares of nVent Electric by 743.7% during the fourth 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of nVent Electric by 145.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,466,560 shares of the company’s stock worth $99,961,000 after acquiring an additional 869,906 shares in the last quarter. Balyasny Asset Management L.P. increased its position in shares of nVent Electric by 16,062.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 875,197 shares of the company’s stock worth $59,653,000 after acquiring an additional 869,782 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of nVent Electric by 32.4% during the fourth quarter. Northern Trust Corp now owns 1,542,986 shares of the company’s stock worth $105,170,000 after acquiring an additional 377,753 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Performance

Shares of NVT stock opened at $87.94 on Friday. The stock has a market cap of $14.15 billion, a P/E ratio of 25.05, a P/E/G ratio of 1.54 and a beta of 1.35. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.67 and a quick ratio of 1.20. The company has a fifty day moving average price of $77.18 and a two-hundred day moving average price of $65.41. nVent Electric PLC has a one year low of $41.71 and a one year high of $92.75.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Friday, August 1st. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.07. The firm had revenue of $963.10 million during the quarter, compared to analysts’ expectations of $906.96 million. nVent Electric had a net margin of 17.72% and a return on equity of 13.36%. The company’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 earnings per share. As a group, equities analysts predict that nVent Electric PLC will post 3.04 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NVT. Barclays reaffirmed an “overweight” rating on shares of nVent Electric in a research report on Monday, August 4th. Citigroup raised their target price on shares of nVent Electric from $69.00 to $86.00 and gave the company a “buy” rating in a research report on Monday, July 14th. KeyCorp raised their target price on shares of nVent Electric from $78.00 to $84.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Wall Street Zen raised shares of nVent Electric from a “hold” rating to a “buy” rating in a research report on Saturday, July 12th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $100.00 target price (up previously from $89.00) on shares of nVent Electric in a research report on Monday, August 4th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $87.00.

Insider Activity at nVent Electric

In other news, CAO Randolph A. Wacker sold 3,000 shares of the firm’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $89.09, for a total transaction of $267,270.00. Following the completion of the sale, the chief accounting officer owned 27,525 shares in the company, valued at approximately $2,452,202.25. This trade represents a 9.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Lynnette R. Heath sold 17,853 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $89.33, for a total transaction of $1,594,808.49. Following the sale, the executive vice president owned 30,512 shares of the company’s stock, valued at approximately $2,725,636.96. This represents a 36.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 218,780 shares of company stock worth $19,591,172 in the last quarter. 1.80% of the stock is owned by corporate insiders.

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.