KBC Group NV Grows Stake in nVent Electric plc (NYSE:NVT)

KBC Group NV boosted its stake in nVent Electric plc (NYSE:NVTFree Report) by 17.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,870 shares of the company’s stock after buying an additional 22,146 shares during the quarter. KBC Group NV owned approximately 0.09% of nVent Electric worth $10,147,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Larson Financial Group LLC boosted its stake 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 acquiring an additional 181 shares during the last quarter. UMB Bank n.a. boosted its stake in nVent Electric by 280.0% during the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock worth $29,000 after purchasing an additional 308 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of nVent Electric during the third quarter worth $29,000. Huntington National Bank raised its position in shares of nVent Electric by 57.3% in the third quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after buying an additional 223 shares during the last quarter. Finally, Anchor Investment Management LLC lifted its stake in shares of nVent Electric by 94.0% in the second quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock worth $44,000 after buying an additional 280 shares in the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at nVent Electric

In other nVent Electric news, Director Jerry W. Burris sold 6,558 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the sale, the director now directly owns 45,040 shares in the company, valued at $3,603,200. This represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jon D. Lammers sold 67,297 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the completion of the transaction, the executive vice president now directly owns 58,121 shares of the company’s stock, valued at approximately $4,421,264.47. The trade was a 53.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,382 shares of company stock worth $7,365,956 over the last ninety days. Company insiders own 2.50% of the company’s stock.

nVent Electric Stock Performance

Shares of nVent Electric stock opened at $64.06 on Thursday. The firm has a market cap of $10.56 billion, a PE ratio of 18.79, a price-to-earnings-growth ratio of 3.49 and a beta of 1.27. 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 52 week low of $56.44 and a 52 week high of $86.57. The business’s fifty day simple moving average is $72.67 and its 200-day simple moving average is $70.88.

nVent Electric (NYSE:NVTGet Free Report) last posted its 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 company 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%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.84 EPS. Equities analysts forecast that nVent Electric plc will post 2.49 earnings per share for the current year.

nVent Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.25%. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, January 17th. nVent Electric’s dividend payout ratio is 23.46%.

Wall Street Analysts Forecast Growth

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

View Our Latest Report on nVent Electric

About nVent Electric

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding NVT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for nVent Electric plc (NYSE:NVTFree Report).

Institutional Ownership by Quarter for nVent Electric (NYSE:NVT)

Receive News & Ratings for nVent Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for nVent Electric and related companies with MarketBeat.com's FREE daily email newsletter.