DekaBank Deutsche Girozentrale Sells 14,535 Shares of nVent Electric plc (NYSE:NVT)

DekaBank Deutsche Girozentrale lowered its position in shares of nVent Electric plc (NYSE:NVT - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 259,571 shares of the company's stock after selling 14,535 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.16% of nVent Electric worth $15,387,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. State of Michigan Retirement System increased its holdings in nVent Electric by 0.5% in the fourth quarter. State of Michigan Retirement System now owns 39,806 shares of the company's stock valued at $2,352,000 after purchasing an additional 200 shares during the last quarter. Quent Capital LLC increased its holdings in nVent Electric by 123.2% in the fourth quarter. Quent Capital LLC now owns 424 shares of the company's stock valued at $25,000 after purchasing an additional 234 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in nVent Electric by 5.8% in the fourth quarter. Pinnacle Associates Ltd. now owns 4,281 shares of the company's stock valued at $253,000 after purchasing an additional 236 shares during the last quarter. Cookson Peirce & Co. Inc. increased its holdings in nVent Electric by 4.1% in the third quarter. Cookson Peirce & Co. Inc. now owns 7,012 shares of the company's stock valued at $372,000 after purchasing an additional 277 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in nVent Electric by 10.8% in the first quarter. NewEdge Advisors LLC now owns 2,897 shares of the company's stock valued at $124,000 after purchasing an additional 283 shares during the last quarter. Institutional investors own 90.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NVT shares. Royal Bank of Canada boosted their target price on nVent Electric from $65.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, February 7th. Barclays boosted their target price on nVent Electric from $74.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on nVent Electric in a research note on Monday, March 11th. They issued a "buy" rating and a $83.00 target price for the company. Citigroup upped their price objective on nVent Electric from $71.00 to $91.00 and gave the stock a "buy" rating in a research report on Monday. Finally, The Goldman Sachs Group upped their price objective on nVent Electric from $69.00 to $77.00 and gave the stock a "buy" rating in a research report on Friday, March 15th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.60.

Insider Transactions at nVent Electric

In other news, Director Jerry W. Burris sold 4,008 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $63.39, for a total transaction of $254,067.12. Following the transaction, the director now owns 43,072 shares in the company, valued at $2,730,334.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other nVent Electric news, CEO Beth Wozniak sold 198,211 shares of the firm's stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the transaction, the chief executive officer now owns 342 shares in the company, valued at approximately $21,987.18. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jerry W. Burris sold 4,008 shares of the firm's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $63.39, for a total value of $254,067.12. Following the transaction, the director now owns 43,072 shares in the company, valued at approximately $2,730,334.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 400,252 shares of company stock worth $25,713,777. Company insiders own 2.40% of the company's stock.

nVent Electric Stock Performance

NYSE:NVT traded down $3.07 on Tuesday, hitting $75.00. The company's stock had a trading volume of 2,165,274 shares, compared to its average volume of 1,229,612. The company has a current ratio of 1.82, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a fifty day moving average of $68.54 and a two-hundred day moving average of $59.19. The firm has a market capitalization of $12.45 billion, a P/E ratio of 23.17, a price-to-earnings-growth ratio of 1.68 and a beta of 1.35. nVent Electric plc has a one year low of $40.19 and a one year high of $78.98.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.03. The firm had revenue of $861.20 million for the quarter, compared to analyst estimates of $866.90 million. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.66 earnings per share. Research analysts predict that nVent Electric plc will post 3.24 earnings per share for the current year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.01%. nVent Electric's dividend payout ratio (DPR) is currently 22.55%.

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.