UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Holdings in nVent Electric plc (NYSE:NVT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in nVent Electric plc (NYSE:NVT) by 145.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,466,560 shares of the company’s stock after buying an additional 869,906 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in nVent Electric were worth $99,961,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Crews Bank & Trust purchased a new stake in nVent Electric during the 4th quarter worth $26,000. Raleigh Capital Management Inc. grew its stake in shares of nVent Electric by 547.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock valued at $51,000 after acquiring an additional 635 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of nVent Electric by 26.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock worth $53,000 after acquiring an additional 162 shares during the last quarter. Blue Trust Inc. increased its position in shares of nVent Electric by 243.5% during the fourth quarter. Blue Trust Inc. now owns 869 shares of the company’s stock worth $61,000 after acquiring an additional 616 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of nVent Electric in the fourth quarter worth about $65,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NVT shares. Seaport Res Ptn upgraded nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. The Goldman Sachs Group decreased their price target on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. KeyCorp lifted their price target on shares of nVent Electric from $60.00 to $72.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Royal Bank of Canada increased their price objective 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. Finally, Barclays raised their price objective on shares of nVent Electric from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, nVent Electric currently has an average rating of “Buy” and a consensus target price of $70.00.

nVent Electric Price Performance

Shares of NYSE NVT opened at $65.34 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $10.76 billion, a price-to-earnings ratio of 33.34, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24. nVent Electric plc has a twelve month low of $41.71 and a twelve month high of $86.57. The business has a 50 day simple moving average of $56.06 and a 200-day simple moving average of $64.50.

nVent Electric (NYSE:NVT) last released its earnings results on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. The firm had revenue of $809.30 million during the quarter, compared to analyst estimates of $790.74 million. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, equities research analysts expect that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be issued a $0.20 dividend. The ex-dividend date is Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a yield of 1.22%. nVent Electric’s dividend payout ratio is currently 22.86%.

Insider Buying and Selling at nVent Electric

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

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.