Handelsbanken Fonder AB Has $42.75 Million Stock Position in nVent Electric plc (NYSE:NVT)

Handelsbanken Fonder AB increased its stake in shares of nVent Electric plc (NYSE:NVT) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 608,479 shares of the company’s stock after buying an additional 9,060 shares during the quarter. Handelsbanken Fonder AB owned about 0.37% of nVent Electric worth $42,752,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Anchor Investment Management LLC raised its holdings in shares of nVent Electric by 94.0% during the 2nd quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock worth $44,000 after buying an additional 280 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in nVent Electric in the second quarter valued at about $941,000. Sanctuary Advisors LLC acquired a new position in nVent Electric during the second quarter worth about $1,795,000. Dana Investment Advisors Inc. lifted its holdings in shares of nVent Electric by 1.8% in the second quarter. Dana Investment Advisors Inc. now owns 127,307 shares of the company’s stock worth $9,753,000 after acquiring an additional 2,250 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of nVent Electric by 15.0% in the 2nd quarter. Cetera Investment Advisers now owns 53,004 shares of the company’s stock valued at $4,061,000 after purchasing an additional 6,901 shares in the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Trading Up 2.9 %

NYSE NVT traded up $1.99 on Friday, reaching $69.68. The company had a trading volume of 1,436,207 shares, compared to its average volume of 1,531,708. The firm has a market cap of $11.57 billion, a price-to-earnings ratio of 20.31, a P/E/G ratio of 1.35 and a beta of 1.27. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.17 and a quick ratio of 1.49. nVent Electric plc has a fifty-two week low of $45.60 and a fifty-two week high of $86.57. The business has a 50 day moving average of $66.32 and a two-hundred day moving average of $73.33.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The company had revenue of $880.30 million for the quarter, compared to the consensus estimate of $892.89 million. During the same quarter last year, the business earned $0.77 earnings per share. nVent Electric’s revenue was up 9.6% compared to the same quarter last year. Analysts forecast that nVent Electric plc will post 3.26 EPS for the current year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, October 18th. nVent Electric’s dividend payout ratio is currently 22.16%.

Insider Activity

In related news, insider Michael B. Faulconer sold 20,004 shares of nVent Electric stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the completion of the transaction, the insider now owns 19,766 shares of the company’s stock, valued at $1,251,978.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other nVent Electric news, Director Herbert K. Parker purchased 7,566 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $65.71 per share, with a total value of $497,161.86. Following the completion of the purchase, the director now owns 34,524 shares in the company, valued at $2,268,572.04. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael B. Faulconer sold 20,004 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total value of $1,267,053.36. Following the transaction, the insider now owns 19,766 shares in the company, valued at $1,251,978.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on NVT shares. KeyCorp raised shares of nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 target price on the stock in a research note on Wednesday, September 4th. Barclays lowered their target price on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Royal Bank of Canada cut their price target on nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $85.00.

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.