nVent Electric plc (NYSE:NVT) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its holdings in shares of nVent Electric plc (NYSE:NVT) by 0.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,035,463 shares of the company’s stock after purchasing an additional 3,599 shares during the period. Charles Schwab Investment Management Inc.’s holdings in nVent Electric were worth $72,752,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in NVT. Swedbank AB bought a new stake in nVent Electric during the third quarter worth approximately $110,663,000. Millennium Management LLC boosted its stake in shares of nVent Electric by 159.9% during the 2nd quarter. Millennium Management LLC now owns 1,346,576 shares of the company’s stock worth $103,161,000 after acquiring an additional 828,425 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of nVent Electric by 16.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,884,487 shares of the company’s stock worth $374,201,000 after acquiring an additional 673,990 shares in the last quarter. HM Payson & Co. grew its holdings in shares of nVent Electric by 109,496.5% in the 3rd quarter. HM Payson & Co. now owns 438,386 shares of the company’s stock worth $30,801,000 after acquiring an additional 437,986 shares during the last quarter. Finally, DigitalBridge Group Inc. acquired a new stake in shares of nVent Electric during the second quarter worth $21,291,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Trading Down 1.9 %

NYSE:NVT opened at $76.54 on Friday. The stock has a market cap of $12.62 billion, a PE ratio of 22.45, a price-to-earnings-growth ratio of 4.03 and a beta of 1.26. nVent Electric plc has a fifty-two week low of $52.26 and a fifty-two week high of $86.57. 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 stock’s 50-day moving average is $73.42 and its two-hundred day moving average is $73.22.

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

nVent Electric Announces Dividend

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

Analysts Set New Price Targets

NVT has been the subject of a number of recent analyst reports. Barclays decreased their price target on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. KeyCorp lifted their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, Royal Bank of Canada reduced their price target on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $85.33.

Insider Buying and Selling

In other news, EVP Jon D. Lammers sold 67,297 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the transaction, the executive vice president now owns 58,121 shares in the company, valued at $4,421,264.47. This represents a 53.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jerry W. Burris sold 6,558 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the transaction, the director now owns 45,040 shares in the company, valued at $3,603,200. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,382 shares of company stock worth $7,365,956. Corporate insiders own 2.50% of the company’s stock.

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.