TCW Group Inc. raised its holdings in shares of nVent Electric PLC (NYSE:NVT) by 15.1% during the third quarter, HoldingsChannel.com reports. The firm owned 1,614,641 shares of the company’s stock after acquiring an additional 212,148 shares during the quarter. TCW Group Inc.’s holdings in nVent Electric were worth $43,853,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in NVT. Farmers & Merchants Investments Inc. acquired a new stake in shares of nVent Electric in the 3rd quarter valued at approximately $100,000. First Bank & Trust acquired a new stake in shares of nVent Electric in the 2nd quarter valued at approximately $105,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of nVent Electric in the 2nd quarter valued at approximately $113,000. TRUE Private Wealth Advisors acquired a new stake in shares of nVent Electric in the 3rd quarter valued at approximately $114,000. Finally, Moneta Group Investment Advisors LLC acquired a new stake in shares of nVent Electric in the 2nd quarter valued at approximately $133,000. Institutional investors own 81.49% of the company’s stock.
Shares of NVT stock opened at $24.01 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.41 and a current ratio of 1.96. nVent Electric PLC has a 52 week low of $21.00 and a 52 week high of $29.84.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 2nd. Shareholders of record on Friday, October 19th will be issued a dividend of $0.175 per share. The ex-dividend date of this dividend is Thursday, October 18th. This represents a $0.70 annualized dividend and a yield of 2.92%.
NVT has been the topic of a number of analyst reports. Goldman Sachs Group upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and cut their price target for the company from $31.00 to $30.00 in a research report on Friday, October 26th. Barclays reiterated a “hold” rating and issued a $25.00 price target on shares of nVent Electric in a research report on Friday, July 27th. Finally, Zacks Investment Research downgraded shares of nVent Electric from a “hold” rating to a “sell” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $28.60.
In other nVent Electric news, Director William T. Monahan sold 17,133 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $28.08, for a total transaction of $481,094.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
nVent Electric Company Profile
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products and solutions in the United States, Canada, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.
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