Deutsche Bank AG Has $53.11 Million Holdings in nVent Electric plc (NYSE:NVT)

Deutsche Bank AG increased its stake in shares of nVent Electric plc (NYSE:NVT) by 24.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 779,209 shares of the company’s stock after buying an additional 154,152 shares during the quarter. Deutsche Bank AG owned 0.47% of nVent Electric worth $53,111,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Capital Research Global Investors bought a new position in shares of nVent Electric during the fourth quarter valued at $384,749,000. Norges Bank acquired a new stake in shares of nVent Electric during the 4th quarter worth about $197,434,000. William Blair Investment Management LLC lifted its holdings in nVent Electric by 8.8% during the 4th quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company’s stock valued at $176,630,000 after purchasing an additional 210,690 shares during the last quarter. Invesco Ltd. lifted its holdings in nVent Electric by 15.0% during the 4th quarter. Invesco Ltd. now owns 1,723,868 shares of the company’s stock valued at $117,499,000 after purchasing an additional 224,657 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in nVent Electric by 22.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,718,368 shares of the company’s stock valued at $117,124,000 after buying an additional 312,982 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Insider Buying and Selling at nVent Electric

In other news, EVP Lynnette R. Heath sold 4,041 shares of the business’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $61.35, for a total transaction of $247,915.35. Following the completion of the transaction, the executive vice president now directly owns 32,665 shares in the company, valued at approximately $2,003,997.75. The trade was a 11.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

NVT has been the subject of several recent analyst reports. CL King raised shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Monday, March 17th. Barclays raised their price target on nVent Electric from $65.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Citigroup reduced their price objective on nVent Electric from $85.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Seaport Res Ptn upgraded nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Finally, The Goldman Sachs Group reduced their price target on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, nVent Electric has an average rating of “Buy” and an average price target of $70.00.

nVent Electric Stock Up 8.4%

Shares of NVT opened at $66.67 on Tuesday. The business’s fifty day moving average price is $54.07 and its two-hundred day moving average price is $64.76. The firm has a market capitalization of $10.98 billion, a price-to-earnings ratio of 34.02, a PEG ratio of 1.48 and a beta of 1.24. nVent Electric plc has a 52 week low of $41.71 and a 52 week high of $86.57. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. The business had revenue of $809.30 million for the quarter, compared to analysts’ expectations of $790.74 million. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.78 earnings per share. On average, analysts predict that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 25th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Friday, April 25th. nVent Electric’s dividend payout ratio is presently 22.86%.

About nVent Electric

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.