TCW Group Inc. Sells 56,668 Shares of nVent Electric plc (NYSE:NVT)

TCW Group Inc. cut its stake in nVent Electric plc (NYSE:NVT - Free Report) by 20.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 226,902 shares of the company's stock after selling 56,668 shares during the period. TCW Group Inc. owned 0.14% of nVent Electric worth $15,942,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NVT. State Street Corp raised its stake in nVent Electric by 0.9% during 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 during the period. Massachusetts Financial Services Co. MA lifted its position 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 worth $374,201,000 after buying an additional 673,990 shares in the last quarter. Geode Capital Management LLC boosted its position in 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 purchasing an additional 29,794 shares during the last quarter. Janus Henderson Group PLC grew its stake in nVent Electric by 23.6% in the 3rd quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company's stock valued at $171,492,000 after purchasing an additional 466,042 shares during the period. Finally, Clean Energy Transition LLP grew its stake in nVent Electric by 56.5% in the 3rd quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company's stock valued at $158,411,000 after purchasing an additional 813,909 shares during the period. Institutional investors and hedge funds own 90.05% of the company's stock.

nVent Electric Stock Up 0.3 %

Shares of NVT stock traded up $0.26 during mid-day trading on Thursday, reaching $75.58. 1,209,920 shares of the company's stock traded hands, compared to its average volume of 1,569,999. The company's 50-day moving average price is $74.69 and its 200-day moving average price is $72.83. The company has a market cap of $12.46 billion, a P/E ratio of 22.23, a P/E/G ratio of 3.96 and a beta of 1.25. 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 plc has a 12 month low of $55.19 and a 12 month high of $86.57.

nVent Electric (NYSE:NVT - Get Free Report) last posted 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). 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 previous year, the firm earned $0.84 EPS. The company's revenue was up 9.4% on a year-over-year basis. On average, equities analysts expect that nVent Electric plc will post 2.5 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Friday, October 18th. nVent Electric's dividend payout ratio (DPR) is presently 22.29%.

Insider Buying and Selling at nVent Electric

In related news, Director Jerry W. Burris sold 6,558 shares of the business'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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Randolph A. Wacker sold 8,022 shares of the company's 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 completion of the transaction, the chief accounting officer now directly owns 25,993 shares in the company, valued at $1,972,088.91. This trade represents a 23.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 96,382 shares of company stock worth $7,365,956. 2.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

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.