Swedbank AB Invests $110.66 Million in nVent Electric plc (NYSE:NVT)

Swedbank AB purchased a new stake in shares of nVent Electric plc (NYSE:NVT - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,575,045 shares of the company's stock, valued at approximately $110,663,000. Swedbank AB owned 0.95% of nVent Electric as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its position in shares of nVent Electric by 7.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 93,334 shares of the company's stock worth $5,515,000 after buying an additional 6,858 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of nVent Electric during the fourth quarter valued at about $1,018,000. HighPoint Advisor Group LLC bought a new position in nVent Electric in the fourth quarter worth about $162,000. Nomura Holdings Inc. purchased a new stake in nVent Electric in the fourth quarter worth about $4,487,000. Finally, Symmetry Partners LLC bought a new stake in nVent Electric during the 1st quarter valued at approximately $335,000. Institutional investors own 90.05% of the company's stock.

Insider Activity at nVent Electric

In other nVent Electric news, Director Herbert K. Parker purchased 7,566 shares of the firm's stock in a transaction dated Thursday, August 15th. The stock was purchased at an average price of $65.71 per share, for a total transaction of $497,161.86. Following the completion of the purchase, the director now directly owns 34,524 shares of the company's stock, valued at $2,268,572.04. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Herbert K. Parker bought 7,566 shares of the business's stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $65.71 per share, with a total value of $497,161.86. Following the transaction, the director now owns 34,524 shares in the company, valued at approximately $2,268,572.04. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Lynnette R. Heath sold 8,242 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total value of $496,662.92. Following the transaction, the executive vice president now directly owns 30,432 shares in the company, valued at $1,833,832.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.50% of the stock is owned by insiders.

nVent Electric Stock Up 1.3 %

NYSE:NVT traded up $0.95 during trading hours on Wednesday, reaching $74.31. 1,262,582 shares of the company traded hands, compared to its average volume of 1,538,296. The company has a current ratio of 2.17, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53. The business's 50-day moving average price is $67.07 and its two-hundred day moving average price is $73.23. nVent Electric plc has a 1 year low of $45.60 and a 1 year high of $86.57. The stock has a market capitalization of $12.34 billion, a P/E ratio of 21.39, a P/E/G ratio of 1.47 and a beta of 1.27.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.01). nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The company had revenue of $880.30 million during the quarter, compared to analysts' expectations of $892.89 million. During the same period in the prior year, the firm earned $0.77 EPS. nVent Electric's revenue for the quarter was up 9.6% compared to the same quarter last year. Analysts predict that nVent Electric plc will post 3.26 earnings per share for the current year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be 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 is Friday, October 18th. nVent Electric's payout ratio is 22.16%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NVT shares. KeyCorp increased their target price on nVent Electric from $80.00 to $84.00 and gave the stock an "overweight" rating in a research report on Monday. Royal Bank of Canada lowered their price objective on nVent Electric from $88.00 to $82.00 and set an "outperform" rating for the company in a research report on Wednesday, August 7th. Finally, 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. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $85.67.

nVent Electric Company 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.