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

Handelsbanken Fonder AB lifted its position in shares of nVent Electric plc (NYSE:NVT) by 870.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 477,390 shares of the company’s stock after acquiring an additional 428,190 shares during the period. Handelsbanken Fonder AB owned approximately 0.29% of nVent Electric worth $28,209,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quent Capital LLC increased its position in nVent Electric by 123.2% during the 4th quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after purchasing an additional 234 shares in the last quarter. HM Payson & Co. acquired a new position in nVent Electric during the 3rd quarter worth approximately $26,000. Arlington Trust Co LLC acquired a new position in nVent Electric during the 3rd quarter worth approximately $30,000. Pacific Center for Financial Services acquired a new position in nVent Electric during the 3rd quarter worth approximately $32,000. Finally, Baystate Wealth Management LLC acquired a new position in nVent Electric during the 3rd quarter worth approximately $33,000. Institutional investors own 90.05% of the company’s stock.

Insider Activity

In other news, CEO Beth Wozniak sold 198,211 shares of nVent Electric 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 transaction, the chief executive officer now directly owns 342 shares in the company, valued at $21,987.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other nVent Electric news, CEO Beth Wozniak sold 198,211 shares of nVent Electric 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 sale, the chief executive officer now owns 342 shares of the company’s stock, valued at $21,987.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Randall J. Hogan sold 184,572 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $64.03, for a total transaction of $11,818,145.16. Following the completion of the sale, the director now directly owns 8,277 shares in the company, valued at approximately $529,976.31. The disclosure for this sale can be found here. Insiders sold 400,252 shares of company stock worth $25,713,777 over the last three months. 2.50% of the stock is currently owned by insiders.

nVent Electric Trading Down 0.7 %

NYSE:NVT opened at $71.15 on Tuesday. The company has a current ratio of 1.82, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $11.81 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 1.54 and a beta of 1.35. The firm has a fifty day simple moving average of $70.63 and a two-hundred day simple moving average of $60.63. nVent Electric plc has a 12 month low of $40.19 and a 12 month high of $78.98.

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

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Thursday, April 25th. nVent Electric’s dividend payout ratio is currently 22.55%.

Wall Street Analysts Forecast Growth

NVT has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of nVent Electric in a research report on Monday, March 11th. They issued a “buy” rating and a $83.00 price target for the company. Barclays upped their price target on shares of nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Citigroup increased their price objective 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. The Goldman Sachs Group increased their price objective on shares of nVent Electric from $69.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Finally, Royal Bank of Canada increased their price objective 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 analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $81.60.

About nVent Electric

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.