Deutsche Bank AG Raises Stock Holdings in nVent Electric plc (NYSE:NVT)

Deutsche Bank AG raised its stake in shares of nVent Electric plc (NYSE:NVT - Free Report) by 24.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 779,209 shares of the company's stock after purchasing an additional 154,152 shares during the period. Deutsche Bank AG owned 0.47% of nVent Electric worth $53,111,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Quadrant Capital Group LLC raised its position in nVent Electric by 4.1% during the 4th quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company's stock worth $259,000 after purchasing an additional 150 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in nVent Electric by 26.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company's stock worth $53,000 after purchasing an additional 162 shares during the last quarter. Calamos Advisors LLC raised its position in nVent Electric by 1.6% during the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company's stock worth $782,000 after purchasing an additional 176 shares during the last quarter. Utah Retirement Systems raised its position in nVent Electric by 2.3% during the 4th quarter. Utah Retirement Systems now owns 8,923 shares of the company's stock worth $608,000 after purchasing an additional 200 shares during the last quarter. Finally, Hancock Whitney Corp raised its position in nVent Electric by 1.4% during the 4th quarter. Hancock Whitney Corp now owns 15,031 shares of the company's stock worth $1,025,000 after purchasing an additional 206 shares during the last quarter. 90.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NVT has been the subject of several analyst reports. Seaport Res Ptn raised nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. Citigroup lowered their price objective on nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Royal Bank of Canada lifted their price objective on nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. The Goldman Sachs Group lowered their price objective on nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Finally, CL King raised nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective for the company in a research report on Monday, March 17th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $70.00.

Insider Activity

In other news, EVP Lynnette R. Heath sold 4,041 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total value of $247,915.35. Following the completion of the sale, the executive vice president now directly owns 32,665 shares of the company's stock, valued at $2,003,997.75. This represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is currently owned by company insiders.

nVent Electric Stock Up 1.0%

Shares of NVT traded up $0.69 during trading hours on Friday, hitting $67.54. The stock had a trading volume of 1,626,964 shares, compared to its average volume of 1,940,881. 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 50 day simple moving average of $55.10 and a 200-day simple moving average of $64.57. The firm has a market capitalization of $11.12 billion, a P/E ratio of 34.46, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24. nVent Electric plc has a 1-year low of $41.71 and a 1-year high of $86.57.

nVent Electric (NYSE:NVT - Get Free Report) last issued its earnings results on Friday, May 2nd. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. The company had revenue of $809.30 million during the quarter, compared to the consensus estimate of $790.74 million. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. The firm's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the business posted $0.78 EPS. Sell-side analysts predict that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.18%. nVent Electric's dividend payout ratio is presently 22.86%.

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.