Raiffeisen Bank International AG Acquires New Shares in nVent Electric plc (NYSE:NVT)

Raiffeisen Bank International AG acquired a new stake in nVent Electric plc (NYSE:NVT) during the 4th quarter, Holdings Channel.com reports. The fund acquired 1,397 shares of the company’s stock, valued at approximately $96,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. HB Wealth Management LLC purchased a new stake in nVent Electric during the 4th quarter valued at $272,000. Artemis Investment Management LLP raised its stake in nVent Electric by 235.9% during the 4th quarter. Artemis Investment Management LLP now owns 763,075 shares of the company’s stock valued at $52,011,000 after buying an additional 535,881 shares during the last quarter. Diversify Wealth Management LLC raised its stake in nVent Electric by 39.2% during the 4th quarter. Diversify Wealth Management LLC now owns 9,220 shares of the company’s stock valued at $635,000 after buying an additional 2,596 shares during the last quarter. UMB Bank n.a. raised its stake in nVent Electric by 269.6% during the 4th quarter. UMB Bank n.a. now owns 1,545 shares of the company’s stock valued at $105,000 after buying an additional 1,127 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in nVent Electric by 26.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock valued at $53,000 after buying an additional 162 shares during the last quarter. 90.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada boosted their target price on shares of nVent Electric from $73.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, May 5th. KeyCorp boosted their target price on shares of nVent Electric from $60.00 to $72.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Barclays boosted their target price on shares of nVent Electric from $65.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Citigroup decreased their target price on shares of nVent Electric from $85.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, The Goldman Sachs Group reduced their price objective on nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $70.00.

nVent Electric Trading Up 1.0%

NYSE:NVT opened at $67.54 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The firm has a market capitalization of $11.12 billion, a price-to-earnings ratio of 34.46, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24. nVent Electric plc has a one year low of $41.71 and a one year high of $86.57. The business has a fifty day moving average price of $55.10 and a 200-day moving average price of $64.57.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Friday, May 2nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. The firm had revenue of $809.30 million during the quarter, compared to analyst estimates of $790.74 million. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. nVent Electric’s revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 EPS. Sell-side analysts forecast that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.18%. nVent Electric’s dividend payout ratio is currently 22.86%.

Insider Buying and Selling

In related news, EVP Lynnette R. Heath sold 4,041 shares of the company’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $61.35, for a total value of $247,915.35. Following the completion of the transaction, the executive vice president now owns 32,665 shares of the company’s stock, valued at approximately $2,003,997.75. This represents a 11.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.80% of the stock is currently owned by insiders.

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.