KBC Group NV Purchases 103,592 Shares of nVent Electric plc (NYSE:NVT)

KBC Group NV increased its stake in shares of nVent Electric plc (NYSE:NVT - Free Report) by 447.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,724 shares of the company's stock after acquiring an additional 103,592 shares during the quarter. KBC Group NV owned about 0.08% of nVent Electric worth $8,904,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in NVT. Federated Hermes Inc. grew its stake in shares of nVent Electric by 6.6% in the 2nd quarter. Federated Hermes Inc. now owns 410,902 shares of the company's stock valued at $31,479,000 after purchasing an additional 25,482 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of nVent Electric by 18.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 306,319 shares of the company's stock worth $23,099,000 after purchasing an additional 46,748 shares during the last quarter. Cetera Investment Advisers boosted its stake in nVent Electric by 143.8% in the 1st quarter. Cetera Investment Advisers now owns 46,103 shares of the company's stock worth $3,476,000 after buying an additional 27,196 shares during the last quarter. Gateway Investment Advisers LLC acquired a new position in nVent Electric during the second quarter worth approximately $1,608,000. Finally, Virtu Financial LLC acquired a new stake in shares of nVent Electric during the 1st quarter worth $1,125,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Activity

In other nVent Electric news, CFO Sara E. Zawoyski sold 14,505 shares of the company's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the transaction, the chief financial officer now owns 62,215 shares of the company's stock, valued at approximately $4,775,623.40. This represents a 18.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Randolph A. Wacker sold 8,022 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total value of $608,629.14. Following the completion of the transaction, the chief accounting officer now owns 25,993 shares in the company, valued at approximately $1,972,088.91. This represents a 23.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,824 shares of company stock worth $6,841,316. 2.50% of the stock is currently owned by corporate insiders.

nVent Electric Stock Down 1.5 %

NVT traded down $1.13 during trading on Friday, reaching $72.82. 2,382,461 shares of the stock traded hands, compared to its average volume of 1,970,288. The stock's 50-day simple moving average is $71.40 and its two-hundred day simple moving average is $73.23. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. nVent Electric plc has a fifty-two week low of $52.26 and a fifty-two week high of $86.57. The stock has a market cap of $12.00 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 3.75 and a beta of 1.26.

nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.81 by ($0.18). The business had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.84 earnings per share. As a group, equities research analysts expect that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric's dividend payout ratio is presently 22.29%.

nVent Electric 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.