Northwestern Mutual Wealth Management Co. Has $468,000 Stock Position in nVent Electric plc (NYSE:NVT)

Northwestern Mutual Wealth Management Co. boosted its holdings in nVent Electric plc (NYSE:NVT) by 53.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,107 shares of the company’s stock after buying an additional 2,140 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in nVent Electric were worth $468,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NVT. Creative Planning boosted its holdings in nVent Electric by 32.8% in the 2nd quarter. Creative Planning now owns 19,914 shares of the company’s stock valued at $1,526,000 after purchasing an additional 4,921 shares during the period. Duff & Phelps Investment Management Co. acquired a new position in nVent Electric in the 2nd quarter valued at approximately $244,000. Algert Global LLC lifted its position in shares of nVent Electric by 600.9% in the 2nd quarter. Algert Global LLC now owns 26,494 shares of the company’s stock worth $2,030,000 after acquiring an additional 22,714 shares during the period. Susquehanna Fundamental Investments LLC increased its position in shares of nVent Electric by 257.0% during the second quarter. Susquehanna Fundamental Investments LLC now owns 17,495 shares of the company’s stock valued at $1,340,000 after purchasing an additional 12,595 shares during the period. Finally, Scientech Research LLC acquired a new position in shares of nVent Electric in the second quarter valued at $244,000. 90.05% of the stock is owned by institutional investors.

nVent Electric Price Performance

NYSE:NVT opened at $70.66 on Wednesday. The company has a quick ratio of 1.49, a current ratio of 2.17 and a debt-to-equity ratio of 0.53. The firm has a market cap of $11.73 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 1.35 and a beta of 1.27. nVent Electric plc has a 12 month low of $45.60 and a 12 month high of $86.57. The company’s 50-day moving average price is $66.34 and its two-hundred day moving average price is $73.32.

nVent Electric (NYSE:NVT) last announced its earnings results on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.01). nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The business had revenue of $880.30 million during the quarter, compared to analyst estimates of $892.89 million. During the same period in the previous year, the firm earned $0.77 earnings per share. The firm’s revenue was up 9.6% compared to the same quarter last year. On average, equities analysts anticipate that nVent Electric plc will post 3.26 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.08%. nVent Electric’s dividend payout ratio (DPR) is presently 22.16%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada decreased their price target on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Barclays dropped their price target on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Finally, KeyCorp upgraded nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 price objective on the stock in a research note on Wednesday, September 4th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $85.00.

Insider Activity at nVent Electric

In related news, Director Herbert K. Parker acquired 7,566 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average price of $65.71 per share, with a total value of $497,161.86. Following the acquisition, the director now directly owns 34,524 shares in the company, valued at $2,268,572.04. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. In other news, Director Herbert K. Parker acquired 7,566 shares of nVent Electric stock in a transaction on Thursday, August 15th. The shares were purchased at an average price of $65.71 per share, with a total value of $497,161.86. Following the acquisition, 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 filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael B. Faulconer sold 20,004 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total value of $1,267,053.36. Following the completion of 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. 2.50% of the stock is currently owned by company insiders.

nVent Electric Profile

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.