LGT Group Foundation Raises Holdings in nVent Electric plc (NYSE:NVT)

LGT Group Foundation grew its position in nVent Electric plc (NYSE:NVT - Free Report) by 14.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 104,127 shares of the company's stock after acquiring an additional 13,277 shares during the period. LGT Group Foundation owned 0.06% of nVent Electric worth $6,174,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of NVT. Quent Capital LLC lifted its stake in shares of nVent Electric by 123.2% in the 4th quarter. Quent Capital LLC now owns 424 shares of the company's stock valued at $25,000 after acquiring an additional 234 shares during the last quarter. HM Payson & Co. bought a new position in shares of nVent Electric in the 3rd quarter valued at $26,000. Pacific Center for Financial Services bought a new position in shares of nVent Electric in the 3rd quarter valued at $32,000. Baystate Wealth Management LLC bought a new position in nVent Electric during the 3rd quarter worth $33,000. Finally, Headlands Technologies LLC bought a new position in nVent Electric during the 3rd quarter worth $35,000. 90.05% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Joseph A. Ruzynski sold 2,500 shares of the firm's stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $64.23, for a total value of $160,575.00. Following the completion of the sale, the insider now directly owns 36,013 shares in the company, valued at approximately $2,313,114.99. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other nVent Electric news, Director Randall J. Hogan sold 184,572 shares of nVent Electric stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $64.03, for a total transaction of $11,818,145.16. Following the completion of the transaction, the director now owns 8,277 shares in the company, valued at approximately $529,976.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph A. Ruzynski sold 2,500 shares of nVent Electric stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $64.23, for a total value of $160,575.00. Following the transaction, the insider now 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. Insiders sold a total of 400,252 shares of company stock worth $25,713,777 in the last three months. Company insiders own 2.50% of the company's stock.

nVent Electric Trading Up 5.5 %

nVent Electric stock traded up $3.99 during trading hours on Friday, reaching $75.89. 3,013,010 shares of the company's stock were exchanged, compared to its average volume of 1,314,077. 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 firm's 50 day simple moving average is $72.22 and its 200 day simple moving average is $61.65. nVent Electric plc has a twelve month low of $40.22 and a twelve month high of $78.98. The firm has a market capitalization of $12.59 billion, a PE ratio of 22.52, a PEG ratio of 1.53 and a beta of 1.35.

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

nVent Electric Dividend Announcement

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 $0.19 dividend. The ex-dividend date is Thursday, April 25th. This represents a $0.76 annualized dividend and a dividend yield of 1.00%. nVent Electric's dividend payout ratio is presently 22.55%.

Wall Street Analyst Weigh In

NVT has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on nVent Electric in a research report on Monday, March 11th. They set a "buy" rating and a $83.00 target price for the company. Barclays raised their target price on nVent Electric from $74.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 2nd. Citigroup raised their target price on nVent Electric from $71.00 to $91.00 and gave the stock a "buy" rating in a research report on Monday, April 8th. Royal Bank of Canada raised their target price on nVent Electric from $65.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 7th. Finally, The Goldman Sachs Group increased their price target on 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 assigned a buy rating to the company's stock. Based on data from MarketBeat.com, nVent Electric has a consensus rating of "Moderate Buy" and a consensus price target of $81.60.

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.