Deutsche Bank AG Has $52.55 Million Holdings in nVent Electric PLC (NYSE:NVT)

Key Points

• Deutsche Bank AG increased its holdings in nVent Electric PLC by 28.7% in the first quarter, acquiring an additional 223,329 shares, bringing their total ownership to approximately $52.5 million.
• Insider sales included Robert J. Van Der Kolk and Lynnette R. Heath, who sold shares valued at nearly $2.6 million combined, representing significant decreases in their holdings.
• nVent Electric's recent earnings report showed a quarterly revenue increase of 30.1% year-over-year, with earnings of $0.86 per share exceeding analyst expectations.

Deutsche Bank AG boosted its stake in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 28.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,002,538 shares of the company's stock after acquiring an additional 223,329 shares during the quarter. Deutsche Bank AG owned about 0.61% of nVent Electric worth $52,553,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NVT. XTX Topco Ltd lifted its holdings in nVent Electric by 192.2% during the 1st quarter. XTX Topco Ltd now owns 12,284 shares of the company's stock valued at $644,000 after buying an additional 8,080 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of nVent Electric by 381.0% in the first quarter. Farther Finance Advisors LLC now owns 1,996 shares of the company's stock valued at $106,000 after purchasing an additional 1,581 shares during the period. GAMMA Investing LLC grew its stake in nVent Electric by 74.3% in the first quarter. GAMMA Investing LLC now owns 3,476 shares of the company's stock worth $182,000 after purchasing an additional 1,482 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in nVent Electric by 6.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 27,252 shares of the company's stock worth $1,429,000 after purchasing an additional 1,591 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its position in nVent Electric by 27.4% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 19,307 shares of the company's stock valued at $1,012,000 after purchasing an additional 4,149 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

Insider Activity at nVent Electric

In other news, EVP Aravind Padmanabhan sold 24,534 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $90.00, for a total value of $2,208,060.00. Following the completion of the transaction, the executive vice president directly owned 12,063 shares in the company, valued at $1,085,670. This trade represents a 67.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jon D. Lammers sold 119,694 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $89.48, for a total value of $10,710,219.12. Following the transaction, the executive vice president directly owned 70,817 shares of the company's stock, valued at $6,336,705.16. This represents a 62.83% 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 ninety days. 1.80% of the stock is currently owned by corporate insiders.

nVent Electric Trading Down 1.3%

NVT stock traded down $1.17 during trading on Wednesday, reaching $90.67. 1,899,827 shares of the stock traded hands, compared to its average volume of 2,348,162. The firm has a market capitalization of $14.59 billion, a PE ratio of 25.83, a P/E/G ratio of 1.58 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 business's 50 day moving average price is $76.31 and its 200-day moving average price is $65.05. nVent Electric PLC has a 52-week low of $41.71 and a 52-week high of $92.75.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.79 by $0.07. nVent Electric had a return on equity of 13.36% and a net margin of 17.72%. The business had revenue of $963.10 million for the quarter, compared to analysts' expectations of $906.96 million. During the same quarter in the previous year, the firm posted $0.82 earnings per share. The company's revenue was up 30.1% compared to the same quarter last year. As a group, sell-side analysts forecast that nVent Electric PLC will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Saturday, January 1st were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, July 18th. nVent Electric's payout ratio is 22.79%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Barclays reissued an "overweight" rating on shares of nVent Electric in a research report on Monday, August 4th. Citigroup increased their price target 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. The Goldman Sachs Group raised their price target on shares of nVent Electric from $78.00 to $87.00 and gave the company a "buy" rating in a report on Monday, July 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $102.00 price target (up from $85.00) on shares of nVent Electric in a research report on Monday, August 4th. Finally, Roth Capital restated a "buy" rating and set a $100.00 price target (up previously from $89.00) on shares of nVent Electric in a research note on Monday, August 4th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $87.00.

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.