Nordea Investment Management AB Acquires 13,483 Shares of nVent Electric plc (NYSE:NVT)

Nordea Investment Management AB boosted its stake in shares of nVent Electric plc (NYSE:NVT - Free Report) by 16.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 93,172 shares of the company's stock after acquiring an additional 13,483 shares during the quarter. Nordea Investment Management AB owned approximately 0.06% of nVent Electric worth $6,378,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its stake in shares of nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company's stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. UMB Bank n.a. lifted its holdings in nVent Electric by 280.0% during the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company's stock worth $29,000 after buying an additional 308 shares in the last quarter. ORG Wealth Partners LLC bought a new position in nVent Electric in the 3rd quarter valued at $29,000. Ashton Thomas Private Wealth LLC bought a new position in nVent Electric in the 2nd quarter valued at $34,000. Finally, Huntington National Bank increased its stake in shares of nVent Electric by 57.3% in the 3rd quarter. Huntington National Bank now owns 612 shares of the company's stock valued at $43,000 after buying an additional 223 shares during the period. Institutional investors and hedge funds own 90.05% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NVT. Royal Bank of Canada raised their price target on nVent Electric from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Barclays upped their target price on shares of nVent Electric from $76.00 to $88.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Citigroup lifted their price target on shares of nVent Electric from $78.00 to $91.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Finally, KeyCorp increased their price objective 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. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $86.33.

Insider Activity at nVent Electric

In other news, Director Jerry W. Burris sold 6,558 shares of the company'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 transaction, the director now directly owns 45,040 shares of the company's stock, valued at $3,603,200. This represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jon D. Lammers sold 67,297 shares of nVent Electric stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total value of $5,119,282.79. Following the completion of the sale, the executive vice president now directly owns 58,121 shares in the company, valued at approximately $4,421,264.47. This represents a 53.66 % 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 in the last quarter. Corporate insiders own 2.50% of the company's stock.

nVent Electric Trading Down 1.4 %

NVT traded down $0.96 during midday trading on Friday, reaching $68.89. 928,519 shares of the company were exchanged, compared to its average volume of 1,151,437. The stock has a market capitalization of $11.35 billion, a P/E ratio of 20.20, a PEG ratio of 3.86 and a beta of 1.27. nVent Electric plc has a one year low of $55.19 and a one year high of $86.57. The stock's 50-day simple moving average is $73.55 and its 200 day simple moving average is $71.45. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $782.00 million for the quarter, compared to the consensus estimate of $937.37 million. During the same period in the previous year, the business earned $0.84 EPS. The firm's revenue was up 9.4% compared to the same quarter last year. As a group, analysts forecast that nVent Electric plc will post 2.5 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. Stockholders of record on Friday, January 17th will be issued a $0.20 dividend. 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 1.16%. nVent Electric's payout ratio is 23.46%.

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.