43,900 Shares in nVent Electric PLC $NVT Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new position in nVent Electric PLC (NYSE:NVT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 43,900 shares of the company’s stock, valued at approximately $4,476,000.

Other institutional investors also recently bought and sold shares of the company. TABR Capital Management LLC bought a new stake in nVent Electric in the fourth quarter worth $3,284,000. Continuum Advisory LLC bought a new stake in nVent Electric in the third quarter worth $1,630,000. Nordea Investment Management AB lifted its position in nVent Electric by 10.0% in the third quarter. Nordea Investment Management AB now owns 129,655 shares of the company’s stock worth $12,671,000 after buying an additional 11,804 shares during the last quarter. Pacer Advisors Inc. increased its stake in nVent Electric by 51.0% in the third quarter. Pacer Advisors Inc. now owns 30,535 shares of the company’s stock worth $3,012,000 after purchasing an additional 10,307 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in nVent Electric by 173.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 52,856 shares of the company’s stock worth $5,214,000 after purchasing an additional 33,549 shares during the period. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Price Performance

Shares of NVT stock opened at $136.81 on Wednesday. nVent Electric PLC has a 1-year low of $49.01 and a 1-year high of $139.15. The stock’s 50-day moving average is $119.27 and its 200 day moving average is $110.76. The company has a market cap of $22.12 billion, a P/E ratio of 31.82, a PEG ratio of 1.41 and a beta of 1.28. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.63 and a quick ratio of 1.16.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Saturday, February 7th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1 billion. nVent Electric had a return on equity of 15.18% and a net margin of 18.25%.The firm’s revenue for the quarter was up 41.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 earnings per share. Research analysts predict that nVent Electric PLC will post 4.15 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, April 24th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, April 24th. nVent Electric’s dividend payout ratio (DPR) is currently 19.53%.

Insiders Place Their Bets

In related news, Director Jerry W. Burris sold 5,244 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $112.27, for a total value of $588,743.88. Following the completion of the transaction, the director owned 46,371 shares in the company, valued at $5,206,072.17. This trade represents a 10.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Susan M. Cameron sold 5,000 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $114.52, for a total value of $572,600.00. Following the sale, the director owned 13,405 shares in the company, valued at approximately $1,535,140.60. The trade was a 27.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 17,841 shares of company stock valued at $2,046,166. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NVT. UBS Group reiterated a “buy” rating and issued a $135.00 target price on shares of nVent Electric in a research note on Friday, March 13th. Weiss Ratings upgraded nVent Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, March 11th. Wall Street Zen lowered nVent Electric from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 23rd. Zacks Research lowered nVent Electric from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Finally, Royal Bank Of Canada increased their target price on nVent Electric from $138.00 to $143.00 and gave the stock an “outperform” rating in a research note on Thursday, March 19th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, nVent Electric has a consensus rating of “Moderate Buy” and a consensus target price of $144.00.

nVent Electric Profile

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.