nVent Electric PLC (NYSE:NVT) Shares Acquired by Robeco Schweiz AG

Robeco Schweiz AG lifted its position in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 1.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,532,255 shares of the company's stock after purchasing an additional 21,255 shares during the period. nVent Electric accounts for approximately 2.0% of Robeco Schweiz AG's portfolio, making the stock its 15th largest position. Robeco Schweiz AG owned 0.93% of nVent Electric worth $80,321,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp increased its stake in shares of nVent Electric by 109.1% during the fourth quarter. Jones Financial Companies Lllp now owns 1,303 shares of the company's stock valued at $89,000 after purchasing an additional 680 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in nVent Electric in the fourth quarter worth approximately $3,986,000. Raymond James Financial Inc. purchased a new stake in nVent Electric in the fourth quarter worth approximately $13,333,000. PNC Financial Services Group Inc. boosted its stake in shares of nVent Electric by 11.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 43,424 shares of the company's stock worth $2,960,000 after acquiring an additional 4,387 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of nVent Electric by 16.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 53,700 shares of the company's stock worth $3,660,000 after acquiring an additional 7,550 shares during the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NVT. Citigroup lowered their target price on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. CL King upgraded shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price on the stock in a research report on Monday, March 17th. Royal Bank Of Canada upped their target price on shares of nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. The Goldman Sachs Group increased their price objective on shares of nVent Electric from $78.00 to $87.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Finally, Barclays increased their price objective on shares of nVent Electric from $74.00 to $80.00 and gave the stock an "overweight" rating in a research report on Wednesday. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $73.83.

nVent Electric Stock Up 0.4%

NYSE:NVT traded up $0.28 during midday trading on Friday, reaching $74.95. 1,677,199 shares of the stock traded hands, compared to its average volume of 1,986,563. nVent Electric PLC has a 12-month low of $41.71 and a 12-month high of $81.55. The business has a 50-day moving average of $68.56 and a two-hundred day moving average of $63.29. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.42 and a current ratio of 2.87. The stock has a market capitalization of $12.34 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31.

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

nVent Electric Dividend Announcement

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

Insider Activity

In related news, EVP Lynnette R. Heath sold 4,041 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $61.35, for a total transaction of $247,915.35. Following the sale, the executive vice president owned 32,665 shares in the company, valued at approximately $2,003,997.75. This trade represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by company 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.