Daiwa Securities Group Inc. Buys 32,050 Shares of nVent Electric plc (NYSE:NVT)

Daiwa Securities Group Inc. raised its stake in nVent Electric plc (NYSE:NVT) by 227.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,150 shares of the company’s stock after purchasing an additional 32,050 shares during the quarter. Daiwa Securities Group Inc.’s holdings in nVent Electric were worth $3,242,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA grew its stake in shares of nVent Electric by 16.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock valued at $374,201,000 after buying an additional 673,990 shares in the last quarter. Boston Partners grew its position in shares of nVent Electric by 3.2% in the 1st quarter. Boston Partners now owns 3,325,834 shares of the company’s stock valued at $250,770,000 after acquiring an additional 102,643 shares during the period. Principal Financial Group Inc. increased its stake in shares of nVent Electric by 1.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company’s stock worth $123,891,000 after purchasing an additional 28,876 shares during the last quarter. Swedbank AB bought a new stake in shares of nVent Electric in the 3rd quarter valued at about $110,663,000. Finally, Millennium Management LLC lifted its stake in nVent Electric by 159.9% in the 2nd quarter. Millennium Management LLC now owns 1,346,576 shares of the company’s stock valued at $103,161,000 after purchasing an additional 828,425 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Stock Performance

Shares of NYSE NVT opened at $76.53 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. The firm has a market cap of $12.61 billion, a price-to-earnings ratio of 22.44, a P/E/G ratio of 4.03 and a beta of 1.26. The stock’s fifty day moving average price is $73.30 and its two-hundred day moving average price is $73.20. nVent Electric plc has a one year low of $52.26 and a one year high of $86.57.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The business had revenue of $782.00 million during the quarter, compared to analyst estimates of $937.37 million. During the same quarter last year, the company posted $0.84 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. On average, equities analysts forecast that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date was Friday, October 18th. nVent Electric’s dividend payout ratio (DPR) is presently 22.29%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Royal Bank of Canada lowered their price target on nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Barclays dropped their price target on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Finally, KeyCorp upped their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $85.33.

Insider Buying and Selling

In other news, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total value of $608,629.14. Following the transaction, the chief accounting officer now owns 25,993 shares in the company, valued at approximately $1,972,088.91. This trade represents a 23.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jon D. Lammers sold 67,297 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total value of $5,119,282.79. Following the sale, the executive vice president now owns 58,121 shares of the company’s stock, valued at approximately $4,421,264.47. This represents a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,382 shares of company stock valued at $7,365,956 over the last quarter. 2.50% of the stock is 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.