nVent Electric plc (NYSE:NVT) Holdings Boosted by Carnegie Investment Counsel

Carnegie Investment Counsel increased its position in nVent Electric plc (NYSE:NVT - Free Report) by 13.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,835 shares of the company's stock after buying an additional 11,764 shares during the quarter. Carnegie Investment Counsel owned 0.06% of nVent Electric worth $6,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Oak Thistle LLC bought a new stake in shares of nVent Electric in the 4th quarter worth approximately $1,009,000. Tsfg LLC bought a new stake in nVent Electric during the fourth quarter valued at approximately $51,000. Miracle Mile Advisors LLC purchased a new stake in shares of nVent Electric in the 4th quarter worth $760,000. TT International Asset Management LTD lifted its position in shares of nVent Electric by 20.4% during the 4th quarter. TT International Asset Management LTD now owns 108,395 shares of the company's stock valued at $7,388,000 after buying an additional 18,376 shares in the last quarter. Finally, LVM Capital Management Ltd. MI boosted its holdings in nVent Electric by 8.1% in the 4th quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company's stock worth $10,307,000 after buying an additional 11,349 shares during the period. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Trading Up 1.3 %

NYSE NVT traded up $0.95 on Friday, reaching $72.36. The stock had a trading volume of 1,307,251 shares, compared to its average volume of 1,111,387. The firm has a market capitalization of $11.93 billion, a price-to-earnings ratio of 21.22, a P/E/G ratio of 2.95 and a beta of 1.27. nVent Electric plc has a 12-month low of $55.62 and a 12-month high of $86.57. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The stock has a fifty day moving average price of $73.20 and a two-hundred day moving average price of $71.22.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings results 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). 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 period last year, the company earned $0.84 earnings per share. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, sell-side analysts forecast that nVent Electric plc will post 2.5 EPS for the current fiscal 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 paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.80 dividend on an annualized basis and a yield of 1.11%. This is a positive change from nVent Electric's previous quarterly dividend of $0.19. nVent Electric's dividend payout ratio is presently 22.29%.

Analyst Upgrades and Downgrades

NVT has been the topic of several recent research reports. KeyCorp increased their price target on nVent Electric from $80.00 to $84.00 and gave the company an "overweight" rating in a report on Monday, October 14th. Barclays upped 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. Royal Bank of Canada increased their target price on nVent Electric from $80.00 to $85.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Finally, Citigroup lowered their target price on shares of nVent Electric from $91.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $86.17.

Insider Activity at nVent Electric

In related news, CFO Sara E. Zawoyski sold 14,505 shares of the business'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 transaction, the chief financial officer now owns 62,215 shares in the company, valued at approximately $4,775,623.40. The trade was a 18.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Randolph A. Wacker sold 8,022 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the transaction, the chief accounting officer now directly owns 25,993 shares of the company's stock, valued at approximately $1,972,088.91. This represents a 23.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,382 shares of company stock valued at $7,365,956. 2.50% of the stock is owned by insiders.

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.