Principal Financial Group Inc. Has $123.89 Million Stock Position in nVent Electric plc (NYSE:NVT)

Principal Financial Group Inc. boosted its position in nVent Electric plc (NYSE:NVT - Free Report) by 1.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,763,254 shares of the company's stock after purchasing an additional 28,876 shares during the period. Principal Financial Group Inc. owned about 1.06% of nVent Electric worth $123,891,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Federated Hermes Inc. lifted its stake in nVent Electric by 6.6% in the 2nd quarter. Federated Hermes Inc. now owns 410,902 shares of the company's stock valued at $31,479,000 after purchasing an additional 25,482 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in nVent Electric by 4.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 190,240 shares of the company's stock worth $14,344,000 after acquiring an additional 8,489 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in nVent Electric by 18.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 306,319 shares of the company's stock worth $23,099,000 after acquiring an additional 46,748 shares during the last quarter. SG Americas Securities LLC lifted its position in nVent Electric by 250.4% during the first quarter. SG Americas Securities LLC now owns 62,384 shares of the company's stock worth $4,704,000 after acquiring an additional 44,582 shares during the last quarter. Finally, Cetera Investment Advisers lifted its position in nVent Electric by 143.8% during the first quarter. Cetera Investment Advisers now owns 46,103 shares of the company's stock worth $3,476,000 after acquiring an additional 27,196 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at nVent Electric

In related news, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total value of $608,629.14. Following the transaction, the chief accounting officer now directly owns 25,993 shares of the company's stock, valued at $1,972,088.91. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total value of $608,629.14. Following the transaction, the chief accounting officer now directly owns 25,993 shares of the company's stock, valued at $1,972,088.91. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jon D. Lammers sold 67,297 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the completion of the sale, the executive vice president now owns 58,121 shares in the company, valued at $4,421,264.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,323 shares of company stock valued at $6,994,965 over the last three months. 2.50% of the stock is owned by insiders.

nVent Electric Stock Performance

Shares of NVT traded down $0.84 during mid-day trading on Friday, hitting $76.95. 1,606,595 shares of the company's stock were exchanged, compared to its average volume of 1,950,405. nVent Electric plc has a 52 week low of $49.93 and a 52 week high of $86.57. The stock's 50-day simple moving average is $70.23 and its 200-day simple moving average is $73.19. The firm has a market cap of $12.68 billion, a price-to-earnings ratio of 22.57, a price-to-earnings-growth ratio of 3.97 and a beta of 1.26. 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 announced 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 return on equity of 15.66% and a net margin of 16.95%. The business had revenue of $782.00 million for the quarter, compared to the consensus estimate of $937.37 million. During the same period in the prior year, the business posted $0.84 earnings per share. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts expect that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a $0.19 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a yield of 0.99%. nVent Electric's dividend payout ratio (DPR) is 22.29%.

Analyst Ratings Changes

NVT has been the subject of several research reports. Barclays cut their price objective on shares of nVent Electric from $87.00 to $86.00 and set an "overweight" rating for the company in a research report on Wednesday, October 2nd. Royal Bank of Canada cut their price objective on shares of nVent Electric from $82.00 to $80.00 and set an "outperform" rating for the company in a research report on Monday, November 4th. Finally, KeyCorp raised their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. Six research 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 $85.33.

nVent Electric 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.