Healthcare of Ontario Pension Plan Trust Fund Grows Stake in nVent Electric plc (NYSE:NVT)

Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in nVent Electric plc (NYSE:NVT - Free Report) by 125.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,721 shares of the company's stock after purchasing an additional 15,438 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund's holdings in nVent Electric were worth $1,948,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its holdings in shares of nVent Electric by 16.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company's stock valued at $374,201,000 after buying an additional 673,990 shares in the last quarter. Principal Financial Group Inc. boosted its stake in nVent Electric by 1.7% in the third quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company's stock valued at $123,891,000 after acquiring an additional 28,876 shares in the last quarter. Swedbank AB purchased a new position in shares of nVent Electric during the third quarter worth about $110,663,000. Millennium Management LLC increased its position in shares of nVent Electric by 159.9% during the second quarter. Millennium Management LLC now owns 1,346,576 shares of the company's stock worth $103,161,000 after purchasing an additional 828,425 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of nVent Electric by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,035,463 shares of the company's stock valued at $72,752,000 after purchasing an additional 3,599 shares during the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at nVent Electric

In other nVent Electric news, Director Jerry W. Burris sold 6,558 shares of the business's stock in a transaction dated Monday, November 25th. The stock was 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 owns 45,040 shares of the company's stock, valued at approximately $3,603,200. The trade was a 12.71 % decrease in their ownership of the stock. 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 dated 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 completion of the transaction, the chief financial officer now owns 62,215 shares in the company, valued at approximately $4,775,623.40. This trade represents a 18.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 96,382 shares of company stock worth $7,365,956. 2.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NVT shares. KeyCorp raised their price target on nVent Electric from $80.00 to $84.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. Barclays cut their target price on shares of nVent Electric from $87.00 to $86.00 and set an "overweight" rating on the stock in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada dropped their price target on nVent Electric from $82.00 to $80.00 and set an "outperform" rating on the stock in a research report on Monday, November 4th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $85.33.

nVent Electric Price Performance

NYSE NVT traded down $0.82 during trading hours on Monday, reaching $77.49. The company's stock had a trading volume of 1,398,088 shares, compared to its average volume of 1,581,415. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. The company's 50-day moving average is $73.72 and its two-hundred day moving average is $73.05. nVent Electric plc has a fifty-two week low of $53.49 and a fifty-two week high of $86.57. The stock has a market cap of $12.77 billion, a PE ratio of 22.72, a PEG ratio of 4.03 and a beta of 1.26.

nVent Electric (NYSE:NVT - Get Free Report) last announced its 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). The firm had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 EPS. Analysts forecast that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a dividend of $0.19 per share. The ex-dividend date was Friday, October 18th. This represents a $0.76 annualized dividend and a dividend yield of 0.98%. nVent Electric's payout ratio is currently 22.29%.

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.