nVent Electric plc (NYSE:NVT) Stake Increased by KBC Group NV

KBC Group NV raised its holdings in shares of nVent Electric plc (NYSE:NVT - Free Report) by 17.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 148,870 shares of the company's stock after purchasing an additional 22,146 shares during the quarter. KBC Group NV owned 0.09% of nVent Electric worth $10,147,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Larson Financial Group LLC increased its stake in shares of nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company's stock worth $27,000 after buying an additional 181 shares during the last quarter. UMB Bank n.a. increased its position in shares of nVent Electric by 280.0% in the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company's stock worth $29,000 after purchasing an additional 308 shares during the last quarter. ORG Wealth Partners LLC bought a new position in shares of nVent Electric during the third quarter worth about $29,000. Huntington National Bank grew its stake in nVent Electric by 57.3% in the third quarter. Huntington National Bank now owns 612 shares of the company's stock worth $43,000 after purchasing an additional 223 shares in the last quarter. Finally, Anchor Investment Management LLC increased its holdings in nVent Electric by 94.0% in the second quarter. Anchor Investment Management LLC now owns 578 shares of the company's stock valued at $44,000 after buying an additional 280 shares during the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Stock Performance

NYSE NVT traded up $2.29 on Thursday, hitting $66.23. The stock had a trading volume of 1,447,736 shares, compared to its average volume of 1,950,516. The company's 50-day moving average is $72.46 and its two-hundred day moving average is $70.83. nVent Electric plc has a one year low of $56.44 and a one year high of $86.57. The stock has a market cap of $10.92 billion, a price-to-earnings ratio of 19.48, a P/E/G ratio of 3.49 and a beta of 1.27. 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 (NYSE:NVT - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported $0.63 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 business had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. During the same quarter in the prior year, the business earned $0.84 earnings per share. The firm's revenue was up 9.4% compared to the same quarter last year. On average, analysts expect that nVent Electric plc will post 2.49 earnings per share for the current year.

nVent Electric Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Friday, January 17th. This is a positive change from nVent Electric's previous quarterly dividend of $0.19. nVent Electric's dividend payout ratio is currently 23.46%.

Analysts Set New Price Targets

NVT has been the topic of a number of research analyst reports. Barclays increased their target price on nVent Electric from $76.00 to $88.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. KeyCorp lifted their price objective 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. Royal Bank of Canada boosted their target price on shares of nVent Electric from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Finally, Citigroup reduced 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 report on Monday, January 13th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nVent Electric has an average rating of "Buy" and an average price target of $86.17.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, CAO Randolph A. Wacker sold 8,022 shares of the business'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 sale, the chief accounting officer now directly owns 25,993 shares in the company, valued at approximately $1,972,088.91. The trade was a 23.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jerry W. Burris sold 6,558 shares of the firm'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 transaction, the director now owns 45,040 shares of the company's stock, valued at approximately $3,603,200. This trade represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,382 shares of company stock valued at $7,365,956. Company insiders own 2.50% of the company's stock.

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.