UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 869,906 Shares of nVent Electric plc (NYSE:NVT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in nVent Electric plc (NYSE:NVT - Free Report) by 145.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,466,560 shares of the company's stock after purchasing an additional 869,906 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.89% of nVent Electric worth $99,961,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NVT. Capital Research Global Investors bought a new position in shares of nVent Electric during the fourth quarter valued at approximately $384,749,000. Norges Bank bought a new position in shares of nVent Electric during the fourth quarter valued at approximately $197,434,000. Millennium Management LLC grew 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 worth $151,017,000 after purchasing an additional 1,953,026 shares during the period. Champlain Investment Partners LLC purchased a new stake in nVent Electric in the fourth quarter worth $86,738,000. Finally, Balyasny Asset Management L.P. grew its stake in nVent Electric by 16,062.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 875,197 shares of the company's stock worth $59,653,000 after purchasing an additional 869,782 shares during the period. Institutional investors own 90.05% of the company's stock.

Insider Buying and Selling at nVent Electric

In related news, EVP Lynnette R. Heath sold 4,041 shares of the firm'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 now directly owns 32,665 shares of the company's stock, valued at approximately $2,003,997.75. This trade represents a 11.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is currently owned by company insiders.

nVent Electric Stock Performance

Shares of NYSE NVT traded up $0.31 during trading on Thursday, hitting $66.47. The company had a trading volume of 409,112 shares, compared to its average volume of 1,933,435. The stock has a 50 day simple moving average of $56.61 and a 200 day simple moving average of $64.27. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. nVent Electric plc has a 12 month low of $41.71 and a 12 month high of $83.75. The firm has a market capitalization of $10.94 billion, a P/E ratio of 33.90, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24.

nVent Electric (NYSE:NVT - Get Free Report) last released 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. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. The firm had revenue of $809.30 million during the quarter, compared to analysts' expectations of $790.74 million. During the same quarter last year, the business posted $0.78 earnings per share. The firm's revenue was up 10.5% on a year-over-year basis. As a group, analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

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. This represents a $0.80 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, July 18th. nVent Electric's dividend payout ratio is presently 22.86%.

Analyst Ratings Changes

Several brokerages recently weighed in on NVT. KeyCorp upped their price target on nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Citigroup cut their target price on nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada increased their target price on nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. The Goldman Sachs Group cut their target price on nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Finally, Seaport Res Ptn raised nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, nVent Electric currently has a consensus rating of "Buy" and an average target price of $70.00.

nVent Electric 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.