1,770 Shares in nVent Electric plc (NYSE:NVT) Purchased by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB bought a new stake in nVent Electric plc (NYSE:NVT) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 1,770 shares of the company’s stock, valued at approximately $124,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. State Street Corp boosted its stake in shares of nVent Electric by 0.9% in the third quarter. State Street Corp now owns 5,031,623 shares of the company’s stock valued at $353,522,000 after purchasing an additional 42,465 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in nVent Electric by 16.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock worth $374,201,000 after buying an additional 673,990 shares in the last quarter. Geode Capital Management LLC boosted its position in nVent Electric by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock valued at $194,894,000 after buying an additional 29,794 shares during the period. Janus Henderson Group PLC grew its stake in shares of nVent Electric by 23.6% in the third quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock worth $171,492,000 after acquiring an additional 466,042 shares in the last quarter. Finally, Clean Energy Transition LLP grew its stake in shares of nVent Electric by 56.5% in the third quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock worth $158,411,000 after acquiring an additional 813,909 shares in the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Stock Performance

Shares of NVT opened at $69.61 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. nVent Electric plc has a 52-week low of $55.19 and a 52-week high of $86.57. The stock has a 50 day moving average price of $74.97 and a 200 day moving average price of $72.48. The company has a market capitalization of $11.47 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 3.86 and a beta of 1.25.

nVent Electric (NYSE:NVT) last issued its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The company had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. During the same quarter in the previous year, the company posted $0.84 EPS. The company’s quarterly revenue was up 9.4% on a year-over-year basis. Research analysts predict that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued a dividend of $0.20 per share. This is a positive change from nVent Electric’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.80 annualized dividend and a dividend yield of 1.15%. nVent Electric’s dividend payout ratio (DPR) is presently 22.29%.

Insider Activity

In related news, CAO Randolph A. Wacker sold 8,022 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total transaction of $608,629.14. Following the completion of the sale, the chief accounting officer now owns 25,993 shares in the company, valued at $1,972,088.91. This represents a 23.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jerry W. Burris sold 6,558 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction 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 $3,603,200. The trade was a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 96,382 shares of company stock valued at $7,365,956. Insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NVT. Barclays increased their price objective on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. KeyCorp raised their target price on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Royal Bank of Canada decreased their price target on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Finally, Citigroup increased their price objective on shares of nVent Electric from $78.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $85.50.

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.