APG Asset Management N.V. Increases Holdings in nVent Electric PLC (NYSE:NVT)

APG Asset Management N.V. raised its stake in nVent Electric PLC (NYSE:NVT) by 93.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,007 shares of the company’s stock after acquiring an additional 30,003 shares during the period. APG Asset Management N.V.’s holdings in nVent Electric were worth $1,490,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its position in nVent Electric by 96.3% during the 4th quarter. FMR LLC now owns 16,856 shares of the company’s stock valued at $432,000 after purchasing an additional 8,267 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of nVent Electric by 0.5% in the first quarter. Legal & General Group Plc now owns 383,083 shares of the company’s stock worth $6,463,000 after buying an additional 2,000 shares in the last quarter. M&T Bank Corp grew its holdings in shares of nVent Electric by 26.9% during the first quarter. M&T Bank Corp now owns 21,923 shares of the company’s stock valued at $370,000 after buying an additional 4,648 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of nVent Electric by 5.8% during the first quarter. Principal Financial Group Inc. now owns 1,288,834 shares of the company’s stock valued at $21,740,000 after buying an additional 71,221 shares during the last quarter. Finally, Citigroup Inc. increased its position in shares of nVent Electric by 17.0% during the first quarter. Citigroup Inc. now owns 39,972 shares of the company’s stock valued at $674,000 after acquiring an additional 5,809 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

NVT stock opened at $18.46 on Wednesday. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 17.09, a P/E/G ratio of 2.88 and a beta of 1.51. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.56 and a current ratio of 2.16. The business’s 50-day moving average is $18.69 and its two-hundred day moving average is $21.33. nVent Electric PLC has a fifty-two week low of $10.53 and a fifty-two week high of $28.75.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). The business had revenue of $520.90 million for the quarter, compared to analysts’ expectations of $535.91 million. nVent Electric had a net margin of 8.45% and a return on equity of 11.56%. nVent Electric’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 EPS. Equities analysts predict that nVent Electric PLC will post 1.3 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 24th will be issued a dividend of $0.175 per share. The ex-dividend date of this dividend is Thursday, July 23rd. This represents a $0.70 dividend on an annualized basis and a yield of 3.79%. nVent Electric’s dividend payout ratio is currently 39.33%.

In other nVent Electric news, Director Michael L. Ducker purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were acquired at an average price of $17.50 per share, for a total transaction of $35,000.00. Following the purchase, the director now directly owns 12,254 shares of the company’s stock, valued at approximately $214,445. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.79% of the stock is currently owned by company insiders.

Several research analysts have recently weighed in on the company. Rosenblatt Securities restated a “buy” rating and issued a $29.00 price target (up previously from $26.00) on shares of nVent Electric in a research note on Thursday, June 4th. Royal Bank of Canada reissued a “buy” rating and issued a $21.00 target price on shares of nVent Electric in a research report on Wednesday, April 1st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. nVent Electric presently has a consensus rating of “Hold” and a consensus price target of $26.86.

nVent Electric Company Profile

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.

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

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