Robeco Schweiz AG boosted its stake 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 Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,532,255 shares of the company's stock after purchasing an additional 21,255 shares during the quarter. nVent Electric comprises approximately 2.0% of Robeco Schweiz AG's investment portfolio, making the stock its 15th biggest position. Robeco Schweiz AG owned about 0.93% of nVent Electric worth $80,321,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Capital Research Global Investors acquired a new stake in nVent Electric during the fourth quarter worth approximately $384,749,000. Norges Bank bought a new stake in shares of nVent Electric during the 4th quarter worth approximately $197,434,000. William Blair Investment Management LLC boosted its position in shares of nVent Electric by 8.8% during the 4th quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company's stock worth $176,630,000 after acquiring an additional 210,690 shares in the last quarter. Millennium Management LLC increased its stake in nVent Electric by 743.7% in the fourth quarter. Millennium Management LLC now owns 2,215,624 shares of the company's stock valued at $151,017,000 after acquiring an additional 1,953,026 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in nVent Electric by 1.7% during the first quarter. Bank of New York Mellon Corp now owns 1,747,395 shares of the company's stock valued at $91,598,000 after purchasing an additional 29,027 shares in the last quarter. 90.05% of the stock is owned by institutional investors.
nVent Electric Trading Up 0.1%
NYSE NVT traded up $0.09 on Monday, hitting $74.96. The company's stock had a trading volume of 1,212,682 shares, compared to its average volume of 2,197,095. The company's 50-day moving average is $68.56 and its 200 day moving average is $63.20. The firm has a market cap of $12.34 billion, a PE ratio of 21.42, a PEG ratio of 1.49 and a beta of 1.31. nVent Electric PLC has a 1-year low of $41.71 and a 1-year high of $81.55. The company has a quick ratio of 2.42, a current ratio of 2.87 and a debt-to-equity ratio of 0.48.
nVent Electric (NYSE:NVT - Get Free Report) last announced its earnings results on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. The business had revenue of $809.30 million during the quarter, compared to analyst estimates of $790.74 million. nVent Electric had a return on equity of 13.54% and a net margin of 18.22%. nVent Electric's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the company earned $0.78 EPS. As a group, analysts predict that nVent Electric PLC will post 3.04 earnings per share for the current fiscal year.
nVent Electric Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.80 annualized dividend and a yield of 1.07%. nVent Electric's payout ratio is 22.86%.
Insider Activity
In other news, EVP Lynnette R. Heath sold 4,041 shares of the 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 completion of the sale, the executive vice president directly 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 filing with the SEC, which is available through the SEC website. Company insiders own 2.50% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the company. The Goldman Sachs Group raised their target price on nVent Electric from $78.00 to $87.00 and gave the company a "buy" rating in a report on Monday, July 7th. Citigroup lifted their target price on nVent Electric from $69.00 to $86.00 and gave the company a "buy" rating in a research report on Monday. Seaport Res Ptn raised shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. Barclays raised their price target on shares of nVent Electric from $74.00 to $80.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Finally, CL King upgraded shares of 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. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, nVent Electric currently has a consensus rating of "Buy" and a consensus price target of $78.33.
Check Out Our Latest Report on nVent Electric
About nVent Electric
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Free Report)
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.
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