National Bank of Canada FI Has $17.68 Million Holdings in nVent Electric plc (NYSE:NVT)

National Bank of Canada FI grew its holdings in nVent Electric plc (NYSE:NVT - Free Report) by 2,280.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 251,689 shares of the company's stock after purchasing an additional 241,114 shares during the period. National Bank of Canada FI owned approximately 0.15% of nVent Electric worth $17,684,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Weiss Asset Management LP bought a new position in nVent Electric in the third quarter valued at about $7,390,000. Two Sigma Advisers LP increased its position in nVent Electric by 242.1% during the 3rd quarter. Two Sigma Advisers LP now owns 347,600 shares of the company's stock worth $24,422,000 after purchasing an additional 246,000 shares in the last quarter. Temasek Holdings Private Ltd bought a new position in nVent Electric in the 3rd quarter valued at approximately $3,259,000. Soros Fund Management LLC acquired a new stake in nVent Electric in the third quarter valued at approximately $4,062,000. Finally, State Street Corp boosted its position in nVent Electric by 0.9% in the third quarter. State Street Corp now owns 5,031,623 shares of the company's stock valued at $353,522,000 after buying an additional 42,465 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on NVT. Barclays increased their price target on nVent Electric from $76.00 to $88.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. Citigroup lifted their price target on nVent Electric from $78.00 to $91.00 and gave the company a "buy" rating in a research note on Monday. KeyCorp upped their price objective on nVent Electric from $80.00 to $84.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada reduced their target price on shares of nVent Electric from $82.00 to $80.00 and set an "outperform" rating on the stock in a report on Monday, November 4th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $85.50.

nVent Electric Trading Down 0.8 %

NYSE:NVT traded down $0.63 on Tuesday, reaching $74.44. 1,222,004 shares of the stock traded hands, compared to its average volume of 1,571,639. The firm has a market capitalization of $12.27 billion, a price-to-earnings ratio of 21.83, a price-to-earnings-growth ratio of 3.96 and a beta of 1.25. nVent Electric plc has a 1-year low of $55.19 and a 1-year high of $86.57. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. The company's 50 day moving average is $74.44 and its 200-day moving average is $72.89.

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 analysts' consensus estimates of $0.81 by ($0.18). The firm had revenue of $782.00 million for 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%. nVent Electric's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.84 EPS. Equities research analysts anticipate that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, October 18th. nVent Electric's payout ratio is 22.29%.

Insider Transactions at nVent Electric

In other nVent Electric news, EVP Jon D. Lammers sold 67,297 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 owns 58,121 shares of the company's stock, valued at approximately $4,421,264.47. This trade represents a 53.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jerry W. Burris sold 6,558 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the transaction, the director now directly owns 45,040 shares in the company, valued at $3,603,200. The trade was a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,382 shares of company stock valued at $7,365,956 in the last quarter. 2.50% of the stock is currently owned by company 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.