Principal Financial Group Inc. Purchases 28,876 Shares of nVent Electric plc (NYSE:NVT)

Principal Financial Group Inc. boosted its position in nVent Electric plc (NYSE:NVT - Free Report) by 1.7% during the 3rd quarter, according to its most recent Form 13F 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 1.07% of nVent Electric worth $123,891,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Larson Financial Group LLC boosted its holdings in shares of nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company's stock worth $27,000 after buying an additional 181 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in shares of nVent Electric during the 3rd quarter valued at $29,000. UMB Bank n.a. grew its position in shares of nVent Electric by 280.0% during the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company's stock valued at $29,000 after acquiring an additional 308 shares during the period. First Foundation Advisors bought a new stake in shares of nVent Electric during the 2nd quarter valued at $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of nVent Electric in the 2nd quarter worth $34,000. 90.05% of the stock is currently owned by institutional investors.

Insider Activity

In other nVent Electric news, CFO Sara E. Zawoyski sold 14,505 shares of the business's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $76.76, for a total transaction of $1,113,403.80. Following the sale, the chief financial officer now directly owns 62,215 shares of the company's stock, valued at $4,775,623.40. The trade was a 18.91 % 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, Director Jerry W. Burris sold 6,558 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the sale, the director now directly owns 45,040 shares of the company's stock, 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. In the last ninety days, insiders sold 96,382 shares of company stock worth $7,365,956. 2.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on NVT shares. Citigroup boosted their price target on nVent Electric from $78.00 to $91.00 and gave the company a "buy" rating in a report on Monday, December 9th. KeyCorp boosted 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. Royal Bank of Canada reduced their target price on shares of nVent Electric from $82.00 to $80.00 and set an "outperform" rating for the company in a report on Monday, November 4th. Finally, Barclays lifted their price target on shares of nVent Electric from $76.00 to $88.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $85.50.

nVent Electric Price Performance

NYSE NVT traded down $0.06 during trading hours on Friday, reaching $69.55. The company's stock had a trading volume of 3,152,934 shares, compared to its average volume of 1,577,974. nVent Electric plc has a 1 year low of $55.19 and a 1 year 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 company has a market capitalization of $11.46 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 3.86 and a beta of 1.25. The firm's 50-day moving average price is $74.91 and its 200-day moving average price is $72.38.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.18). The company had revenue of $782.00 million for the quarter, compared to the consensus estimate of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the company earned $0.84 EPS. On average, equities research analysts predict that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.15%. This is a boost from nVent Electric's previous quarterly dividend of $0.19. The ex-dividend date is Friday, January 17th. nVent Electric's dividend 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.