Pacer Advisors Inc. Acquires 6,175 Shares of nVent Electric plc (NYSE:NVT)

Pacer Advisors Inc. lifted its stake in nVent Electric plc (NYSE:NVT) by 12.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,790 shares of the company’s stock after acquiring an additional 6,175 shares during the period. Pacer Advisors Inc.’s holdings in nVent Electric were worth $3,803,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Nordea Investment Management AB grew its position in nVent Electric by 16.9% in the 4th quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock worth $6,378,000 after purchasing an additional 13,483 shares during the last quarter. Geode Capital Management LLC lifted 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 valued at $194,894,000 after buying an additional 29,794 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in nVent Electric during the fourth quarter worth about $1,520,000. TT International Asset Management LTD increased its stake in nVent Electric by 20.4% during the fourth quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock valued at $7,388,000 after acquiring an additional 18,376 shares during the period. Finally, LVM Capital Management Ltd. MI increased its stake in nVent Electric by 8.1% during the fourth quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock valued at $10,307,000 after acquiring an additional 11,349 shares during the period. Institutional investors own 90.05% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on NVT shares. Barclays lifted their price objective on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. KeyCorp lifted their price target on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Citigroup dropped their price objective on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Royal Bank of Canada lifted their target price on shares of nVent Electric from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $86.17.

nVent Electric Stock Up 3.5 %

Shares of NYSE:NVT opened at $66.21 on Friday. The company’s fifty day moving average is $72.46 and its 200-day moving average is $70.83. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83. nVent Electric plc has a 52 week low of $56.44 and a 52 week high of $86.57. The company has a market capitalization of $10.91 billion, a PE ratio of 19.42, a P/E/G ratio of 3.49 and a beta of 1.27.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The firm had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. nVent Electric’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 earnings per share. Equities research analysts predict that nVent Electric plc will post 2.49 earnings per share for the current fiscal year.

nVent Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a $0.20 dividend. This is an increase from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, January 17th. nVent Electric’s payout ratio is presently 23.46%.

Insider Buying and Selling

In related news, Director Jerry W. Burris sold 6,558 shares of nVent Electric stock in a transaction dated Monday, November 25th. The stock was 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 of the company’s stock, valued at $3,603,200. The trade was a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sara E. Zawoyski sold 14,505 shares of the stock in a transaction dated 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 in the company, valued at approximately $4,775,623.40. This represents a 18.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,382 shares of company stock worth $7,365,956 in the last three months. Insiders own 2.50% of the company’s stock.

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.