Zurcher Kantonalbank Zurich Cantonalbank Has $7.90 Million Stock Position in nVent Electric PLC $NVT

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in nVent Electric PLC (NYSE:NVT) by 44.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,456 shares of the company’s stock after acquiring an additional 23,823 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in nVent Electric were worth $7,898,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Global Trust Asset Management LLC purchased a new stake in nVent Electric in the 3rd quarter worth about $30,000. Root Financial Partners LLC purchased a new stake in nVent Electric in the 3rd quarter worth about $31,000. Advisory Services Network LLC purchased a new stake in nVent Electric in the 3rd quarter worth about $35,000. Headlands Technologies LLC lifted its stake in nVent Electric by 522.9% in the 2nd quarter. Headlands Technologies LLC now owns 517 shares of the company’s stock worth $38,000 after acquiring an additional 434 shares in the last quarter. Finally, First Horizon Corp purchased a new stake in nVent Electric in the 3rd quarter worth about $41,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NVT. KeyCorp increased their price objective on nVent Electric from $125.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Citigroup raised their price target on nVent Electric from $133.00 to $152.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Wall Street Zen downgraded nVent Electric from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 23rd. Glj Research initiated coverage on nVent Electric in a research note on Thursday, March 5th. They set a “buy” rating and a $151.00 price target for the company. Finally, Evercore initiated coverage on nVent Electric in a research note on Monday, April 13th. They set an “outperform” rating and a $160.00 price target for the company. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $144.00.

nVent Electric Stock Up 1.9%

Shares of NVT stock opened at $142.82 on Friday. The stock’s 50 day simple moving average is $120.43 and its 200 day simple moving average is $111.18. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.16 and a current ratio of 1.63. nVent Electric PLC has a twelve month low of $52.60 and a twelve month high of $144.11. The company has a market capitalization of $23.09 billion, a price-to-earnings ratio of 33.21, a PEG ratio of 1.45 and a beta of 1.28.

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. nVent Electric had a return on equity of 15.18% and a net margin of 18.25%.The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the business earned $0.59 EPS. The firm’s revenue was up 41.9% compared to the same quarter last year. As a group, research analysts predict that nVent Electric PLC will post 4.15 EPS for the current year.

nVent Electric Announces Dividend

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

Insider Buying and Selling at nVent Electric

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

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.