Handelsbanken Fonder AB Lowers Holdings in nVent Electric plc (NYSE:NVT)

Handelsbanken Fonder AB decreased its holdings in shares of nVent Electric plc (NYSE:NVT) by 28.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 435,924 shares of the company’s stock after selling 172,555 shares during the quarter. Handelsbanken Fonder AB owned about 0.26% of nVent Electric worth $29,713,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVT. Franklin Resources Inc. increased its position in shares of nVent Electric by 22.1% during the 3rd quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock worth $527,374,000 after purchasing an additional 1,269,335 shares during the last quarter. State Street Corp increased its position in shares of nVent Electric by 0.9% during the third quarter. State Street Corp now owns 5,031,623 shares of the company’s stock valued at $353,522,000 after acquiring an additional 42,465 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of nVent Electric by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock valued at $194,894,000 after acquiring an additional 29,794 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of nVent Electric by 23.6% in the 3rd 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. Finally, Clean Energy Transition LLP boosted its position in shares of nVent Electric by 56.5% during the 3rd quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock worth $158,411,000 after purchasing an additional 813,909 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NVT. Royal Bank of Canada boosted their target price on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Citigroup cut their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Barclays raised their target price on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $86.33.

nVent Electric Stock Down 1.7 %

nVent Electric stock opened at $66.57 on Friday. The firm has a market capitalization of $10.97 billion, a P/E ratio of 33.96, a P/E/G ratio of 1.54 and a beta of 1.26. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. nVent Electric plc has a twelve month low of $56.44 and a twelve month high of $86.57. The stock’s fifty day simple moving average is $69.27 and its 200-day simple moving average is $70.14.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. As a group, equities analysts expect that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is presently 40.82%.

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 on Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the transaction, the director now owns 45,040 shares in the company, valued at approximately $3,603,200. The trade was a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.50% of the company’s stock.

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.