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

Principal Financial Group Inc. raised its position in shares of nVent Electric plc (NYSE:NVT - Free Report) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,763,254 shares of the company's stock after purchasing an additional 28,876 shares during the quarter. Principal Financial Group Inc. owned 1.07% of nVent Electric worth $123,891,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Franklin Resources Inc. raised its position in nVent Electric by 22.1% during the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company's stock valued at $527,374,000 after buying an additional 1,269,335 shares during the period. State Street Corp lifted its position in nVent Electric by 0.9% in the 3rd quarter. State Street Corp now owns 5,031,623 shares of the company's stock worth $353,522,000 after buying an additional 42,465 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of nVent Electric by 16.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company's stock valued at $374,201,000 after buying an additional 673,990 shares during the period. Geode Capital Management LLC increased its stake in shares of nVent Electric by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company's stock worth $194,894,000 after acquiring an additional 29,794 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of nVent Electric by 23.6% in the third quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company's stock worth $171,492,000 after acquiring an additional 466,042 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

Insider Buying and Selling at nVent Electric

In other news, 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 sale, the director now directly owns 45,040 shares in the company, valued at approximately $3,603,200. This represents a 12.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Randolph A. Wacker sold 8,022 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total value of $608,629.14. Following the transaction, the chief accounting officer now owns 25,993 shares of the company's stock, valued at $1,972,088.91. This trade represents a 23.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,382 shares of company stock valued at $7,365,956 in the last 90 days. 2.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Barclays boosted their target price 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 target price on shares of nVent Electric from $78.00 to $91.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Royal Bank of Canada dropped their price target on shares of nVent Electric from $82.00 to $80.00 and set an "outperform" rating on the stock in a research note on Monday, November 4th. Finally, KeyCorp lifted their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $85.50.

nVent Electric Stock Performance

NYSE:NVT traded down $0.06 during midday trading on Friday, reaching $69.55. The stock had a trading volume of 3,152,934 shares, compared to its average volume of 1,577,974. The stock has a market capitalization of $11.46 billion, a P/E ratio of 20.40, a PEG ratio of 3.86 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 debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. The firm's fifty day simple moving average is $74.91 and its 200-day simple moving average is $72.41.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.18). The business had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. nVent Electric's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 EPS. On average, equities research analysts forecast 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%. The ex-dividend date of this dividend is Friday, January 17th. This is a positive change from nVent Electric's previous quarterly dividend of $0.19. nVent Electric's dividend payout ratio (DPR) is presently 23.46%.

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.