KBC Group NV Increases Stock Position in nVent Electric plc (NYSE:NVT)

KBC Group NV boosted its holdings in nVent Electric plc (NYSE:NVT) by 17.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 148,870 shares of the company’s stock after purchasing an additional 22,146 shares during the quarter. KBC Group NV’s holdings in nVent Electric were worth $10,147,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Nordea Investment Management AB lifted its holdings in shares of nVent Electric by 16.9% during the fourth quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock worth $6,378,000 after purchasing an additional 13,483 shares during the period. Geode Capital Management LLC lifted its stake in shares of nVent Electric by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after acquiring an additional 29,794 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of nVent Electric in the fourth quarter valued at about $1,520,000. TT International Asset Management LTD increased its stake in shares of nVent Electric by 20.4% during the fourth quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock worth $7,388,000 after acquiring an additional 18,376 shares during the period. Finally, LVM Capital Management Ltd. MI raised its holdings in nVent Electric by 8.1% during the fourth quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock worth $10,307,000 after purchasing an additional 11,349 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Stock Up 1.4 %

NVT stock opened at $64.06 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. The company’s 50 day simple moving average is $72.67 and its 200-day simple moving average is $70.88. nVent Electric plc has a 12 month low of $56.44 and a 12 month high of $86.57. The firm has a market capitalization of $10.56 billion, a PE ratio of 18.79, a P/E/G ratio of 3.49 and a beta of 1.27.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The company had revenue of $782.00 million for the quarter, compared to analysts’ expectations of $937.37 million. During the same period in the previous year, the business posted $0.84 EPS. The business’s quarterly revenue was up 9.4% on a year-over-year basis. Equities analysts expect that nVent Electric plc will post 2.49 earnings per share for the current fiscal year.

nVent Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a dividend of $0.20 per share. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Friday, January 17th. nVent Electric’s dividend payout ratio (DPR) is currently 23.46%.

Insider Transactions at nVent Electric

In other nVent Electric news, Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the sale, the director now directly owns 45,040 shares of the company’s stock, valued at approximately $3,603,200. The trade was a 12.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sara E. Zawoyski sold 14,505 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total value of $1,113,403.80. Following the sale, the chief financial officer now owns 62,215 shares in the company, valued at $4,775,623.40. This trade represents a 18.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,382 shares of company stock worth $7,365,956 over the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NVT shares. Royal Bank of Canada boosted their target price on nVent Electric from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Citigroup lowered their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Barclays raised their price objective on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, KeyCorp upped their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, nVent Electric presently has an average rating of “Buy” and a consensus target price of $86.17.

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.