Banque Pictet & Cie SA Invests $292,000 in nVent Electric PLC (NYSE:NVT)

Banque Pictet & Cie SA purchased a new stake in nVent Electric PLC (NYSE:NVT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,564 shares of the company's stock, valued at approximately $292,000.

Several other large investors have also modified their holdings of NVT. Capital Research Global Investors purchased a new stake in shares of nVent Electric in the 4th quarter valued at $384,749,000. Norges Bank purchased a new stake in shares of nVent Electric in the 4th quarter valued at $197,434,000. William Blair Investment Management LLC raised its holdings in shares of nVent Electric by 8.8% in the 4th quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company's stock valued at $176,630,000 after buying an additional 210,690 shares during the period. Millennium Management LLC raised its holdings in shares of nVent Electric by 743.7% in the 4th quarter. Millennium Management LLC now owns 2,215,624 shares of the company's stock valued at $151,017,000 after buying an additional 1,953,026 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of nVent Electric by 1.7% in the 1st quarter. Bank of New York Mellon Corp now owns 1,747,395 shares of the company's stock valued at $91,598,000 after buying an additional 29,027 shares during the period. Institutional investors and hedge funds own 90.05% of the company's stock.

Insider Activity at nVent Electric

In other news, EVP Lynnette R. Heath sold 4,041 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total transaction of $247,915.35. Following the completion of the sale, the executive vice president owned 32,665 shares in the company, valued at $2,003,997.75. This represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.50% of the stock is owned by company insiders.

nVent Electric Stock Up 0.1%

NVT traded up $0.09 on Monday, reaching $74.96. The company's stock had a trading volume of 1,212,682 shares, compared to its average volume of 1,985,937. The stock has a 50 day moving average of $68.56 and a two-hundred day moving average of $63.20. The company has a quick ratio of 2.42, a current ratio of 2.87 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $12.34 billion, a price-to-earnings ratio of 21.42, a P/E/G ratio of 1.49 and a beta of 1.31. nVent Electric PLC has a fifty-two week low of $41.71 and a fifty-two week high of $81.55.

nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. nVent Electric had a return on equity of 13.54% and a net margin of 18.22%. The company had revenue of $809.30 million during the quarter, compared to analysts' expectations of $790.74 million. During the same quarter in the previous year, the business earned $0.78 earnings per share. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. As a group, analysts forecast that nVent Electric PLC will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, July 18th. nVent Electric's dividend payout ratio (DPR) is presently 22.86%.

Wall Street Analysts Forecast Growth

NVT has been the topic of several research analyst reports. KeyCorp boosted their price objective on nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Citigroup boosted their price objective on nVent Electric from $69.00 to $86.00 and gave the company a "buy" rating in a report on Monday. CL King upgraded nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective on the stock in a report on Monday, March 17th. The Goldman Sachs Group upped their price target on nVent Electric from $78.00 to $87.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Finally, Wall Street Zen upgraded nVent Electric from a "hold" rating to a "buy" rating in a report on Saturday. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $78.33.

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.