Zurcher Kantonalbank Zurich Cantonalbank Buys 98,337 Shares of nVent Electric plc (NYSE:NVT)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in nVent Electric plc (NYSE:NVT - Free Report) by 301.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,922 shares of the company's stock after purchasing an additional 98,337 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.08% of nVent Electric worth $7,736,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NVT. Quent Capital LLC raised its holdings in shares of 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. HM Payson & Co. purchased a new stake in nVent Electric during the third quarter worth about $26,000. Arlington Trust Co LLC purchased a new stake in nVent Electric during the third quarter worth about $30,000. Coppell Advisory Solutions LLC purchased a new stake in nVent Electric during the second quarter worth about $31,000. Finally, Pacific Center for Financial Services purchased a new stake in nVent Electric during the third quarter worth about $32,000. Hedge funds and other institutional investors own 90.05% of the company's stock.

nVent Electric Price Performance

Shares of NVT stock traded up $0.09 during trading hours on Friday, reaching $71.63. The stock had a trading volume of 1,868,828 shares, compared to its average volume of 1,182,309. The stock's fifty day simple moving average is $70.48 and its 200 day simple moving average is $60.49. The company has a current ratio of 1.82, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. nVent Electric plc has a 12 month low of $40.19 and a 12 month high of $78.98. The firm has a market capitalization of $11.89 billion, a PE ratio of 21.26, a PEG ratio of 1.54 and a beta of 1.35.

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

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be given a $0.19 dividend. 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 1.06%. nVent Electric's dividend payout ratio (DPR) is currently 22.55%.

Insider Activity

In other news, insider Joseph A. Ruzynski sold 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $64.23, for a total value of $160,575.00. Following the completion of the transaction, the insider now directly owns 36,013 shares in the company, valued at $2,313,114.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other nVent Electric news, insider Michael B. Faulconer sold 10,961 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $67.33, for a total value of $738,004.13. Following the completion of the transaction, the insider now owns 33,109 shares of the company's stock, valued at approximately $2,229,228.97. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Joseph A. Ruzynski sold 2,500 shares of the business's stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $64.23, for a total transaction of $160,575.00. Following the completion of the transaction, the insider now directly owns 36,013 shares of the company's stock, valued at approximately $2,313,114.99. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 400,252 shares of company stock worth $25,713,777. 2.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on NVT. The Goldman Sachs Group raised their price objective on shares of nVent Electric from $69.00 to $77.00 and gave the stock a "buy" rating in a report on Friday, March 15th. Barclays raised their price objective on shares of nVent Electric from $74.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of nVent Electric in a research report on Monday, March 11th. They set a "buy" rating and a $83.00 target price for the company. Citigroup increased their target price on shares of nVent Electric from $71.00 to $91.00 and gave the stock a "buy" rating in a research report on Monday, April 8th. Finally, Royal Bank of Canada increased their target price on shares of nVent Electric from $65.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, nVent Electric presently has an average rating of "Moderate Buy" and an average price target of $81.60.

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.