Royal Bank of Canada Has $36.13 Million Stake in nVent Electric plc (NYSE:NVT)

Royal Bank of Canada raised its holdings in nVent Electric plc (NYSE:NVT - Free Report) by 13.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 530,064 shares of the company's stock after buying an additional 61,971 shares during the period. Royal Bank of Canada owned 0.32% of nVent Electric worth $36,130,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new position in nVent Electric during the fourth quarter worth $26,000. Raleigh Capital Management Inc. grew its position in shares of nVent Electric by 547.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 751 shares of the company's stock valued at $51,000 after acquiring an additional 635 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of 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. Blue Trust Inc. raised its holdings in shares of nVent Electric by 243.5% in the 4th quarter. Blue Trust Inc. now owns 869 shares of the company's stock valued at $61,000 after purchasing an additional 616 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in nVent Electric in the 4th quarter valued at about $65,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NVT has been the topic of several research analyst reports. Barclays upped their price objective on nVent Electric from $65.00 to $70.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Royal Bank of Canada lifted their price objective on shares of nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Citigroup dropped their price objective on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Seaport Res Ptn raised shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. Finally, KeyCorp boosted their price objective on nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $70.00.

Insider Activity at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the firm's stock in a transaction 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 transaction, the executive vice president now owns 32,665 shares in the company, valued at $2,003,997.75. This trade represents a 11.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by corporate insiders.

nVent Electric Stock Performance

Shares of nVent Electric stock traded down $0.45 during trading on Wednesday, reaching $66.49. The company's stock had a trading volume of 212,442 shares, compared to its average volume of 1,933,246. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The business's 50-day moving average price is $56.43 and its 200-day moving average price is $64.26. nVent Electric plc has a 52 week low of $41.71 and a 52 week high of $86.57. The firm has a market cap of $10.95 billion, a PE ratio of 33.92, a P/E/G ratio of 1.48 and a beta of 1.24.

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, topping the consensus estimate 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 10.09% and a return on equity of 14.52%. The business's revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.78 EPS. Equities analysts forecast that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.20%. nVent Electric's payout ratio is 22.86%.

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.