Handelsbanken Fonder AB Purchases 428,190 Shares of nVent Electric plc (NYSE:NVT)

Handelsbanken Fonder AB raised its position in nVent Electric plc (NYSE:NVT - Free Report) by 870.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 477,390 shares of the company's stock after acquiring an additional 428,190 shares during the quarter. Handelsbanken Fonder AB owned 0.29% of nVent Electric worth $28,209,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. State of Michigan Retirement System grew its position in shares of nVent Electric by 0.5% during the fourth quarter. State of Michigan Retirement System now owns 39,806 shares of the company's stock worth $2,352,000 after buying an additional 200 shares in the last quarter. Quent Capital LLC grew its position in shares of nVent Electric by 123.2% during the fourth quarter. Quent Capital LLC now owns 424 shares of the company's stock worth $25,000 after buying an additional 234 shares in the last quarter. Pinnacle Associates Ltd. grew its position in shares of nVent Electric by 5.8% during the fourth quarter. Pinnacle Associates Ltd. now owns 4,281 shares of the company's stock worth $253,000 after buying an additional 236 shares in the last quarter. Cookson Peirce & Co. Inc. grew its position in shares of nVent Electric by 4.1% during the third quarter. Cookson Peirce & Co. Inc. now owns 7,012 shares of the company's stock worth $372,000 after buying an additional 277 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in shares of nVent Electric by 3.6% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 8,917 shares of the company's stock worth $472,000 after buying an additional 307 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

Insider Buying and Selling

In related news, CEO Beth Wozniak sold 198,211 shares of the company's stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $64.29, for a total value of $12,742,985.19. Following the completion of the sale, the chief executive officer now owns 342 shares of the company's stock, valued at $21,987.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Randall J. Hogan sold 184,572 shares of the company's stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $64.03, for a total value of $11,818,145.16. Following the completion of the sale, the director now owns 8,277 shares of the company's stock, valued at $529,976.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Beth Wozniak sold 198,211 shares of the company's stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $64.29, for a total transaction of $12,742,985.19. Following the completion of the sale, the chief executive officer now directly owns 342 shares of the company's stock, valued at $21,987.18. The disclosure for this sale can be found here. Insiders sold 400,252 shares of company stock valued at $25,713,777 over the last 90 days. 2.50% of the stock is currently owned by company insiders.

nVent Electric Stock Performance

NVT stock traded up $1.31 during mid-day trading on Tuesday, reaching $72.49. The company had a trading volume of 1,438,021 shares, compared to its average volume of 1,254,196. The company has a quick ratio of 1.22, a current ratio of 1.82 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $12.03 billion, a P/E ratio of 21.59, a P/E/G ratio of 1.54 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. The stock's 50-day simple moving average is $70.63 and its two-hundred day simple moving average is $60.63.

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

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Thursday, April 25th. nVent Electric's dividend payout ratio is currently 22.55%.

Analyst Upgrades and Downgrades

NVT has been the subject of a number of research reports. Royal Bank of Canada lifted their price objective on shares of nVent Electric from $65.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of nVent Electric in a report on Monday, March 11th. They issued a "buy" rating and a $83.00 price objective for the company. Barclays lifted 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. Citigroup lifted their price objective on shares of nVent Electric from $71.00 to $91.00 and gave the stock a "buy" rating in a report on Monday, April 8th. Finally, The Goldman Sachs Group lifted 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. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus 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.