Swiss National Bank Sells 37,500 Shares of nVent Electric plc (NYSE:NVT)

Swiss National Bank lowered its position in shares of nVent Electric plc (NYSE:NVT) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 326,687 shares of the company’s stock after selling 37,500 shares during the period. Swiss National Bank owned approximately 0.20% of nVent Electric worth $19,304,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in NVT. FMR LLC boosted its stake in nVent Electric by 41.8% during the 3rd quarter. FMR LLC now owns 6,556,055 shares of the company’s stock valued at $347,405,000 after purchasing an additional 1,932,142 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in nVent Electric by 68.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,952,040 shares of the company’s stock valued at $209,419,000 after purchasing an additional 1,604,534 shares during the last quarter. Congress Asset Management Co. MA purchased a new stake in nVent Electric during the 3rd quarter valued at $116,908,000. Invesco Ltd. boosted its stake in nVent Electric by 21.4% during the 3rd quarter. Invesco Ltd. now owns 1,653,137 shares of the company’s stock valued at $87,600,000 after purchasing an additional 291,426 shares during the last quarter. Finally, Robeco Schweiz AG boosted its stake in nVent Electric by 3,911.6% during the 3rd quarter. Robeco Schweiz AG now owns 1,315,800 shares of the company’s stock valued at $69,724,000 after purchasing an additional 1,283,000 shares during the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Price Performance

Shares of nVent Electric stock opened at $82.07 on Friday. nVent Electric plc has a one year low of $40.22 and a one year high of $82.30. The stock’s fifty day moving average is $73.41 and its 200 day moving average is $62.65. The stock has a market cap of $13.63 billion, a P/E ratio of 23.93, a P/E/G ratio of 1.63 and a beta of 1.35. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.35 and a current ratio of 1.99.

nVent Electric (NYSE:NVT) last announced its earnings results on Friday, May 3rd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The company had revenue of $874.60 million for the quarter, compared to analysts’ expectations of $864.14 million. During the same period last year, the firm earned $0.67 EPS. nVent Electric’s revenue for the quarter was up 18.0% compared to the same quarter last year. Sell-side analysts anticipate that nVent Electric plc will post 3.25 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be paid 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 yield of 0.93%. nVent Electric’s payout ratio is presently 22.16%.

Insiders Place Their Bets

In other news, Director Jerry W. Burris sold 4,008 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $63.39, for a total transaction of $254,067.12. Following the completion of the transaction, the director now owns 43,072 shares in the company, valued at $2,730,334.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other nVent Electric news, insider Michael B. Faulconer sold 10,961 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 33,109 shares of the company’s stock, valued at $2,229,228.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jerry W. Burris sold 4,008 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $63.39, for a total transaction of $254,067.12. Following the completion of the sale, the director now directly owns 43,072 shares of the company’s stock, valued at approximately $2,730,334.08. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on NVT shares. Citigroup increased their target price on nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Monday. Royal Bank of Canada lowered their price target on nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a report on Monday. Deutsche Bank Aktiengesellschaft started coverage on nVent Electric in a report on Monday, March 11th. They set a “buy” rating and a $83.00 price target on the stock. Barclays increased their price target on nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Finally, The Goldman Sachs Group increased their price target on nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a report on Monday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.00.

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.