TCW Group Inc. Buys 60,524 Shares of nVent Electric plc (NYSE:NVT)

TCW Group Inc. lifted its stake in shares of nVent Electric plc (NYSE:NVT) by 26.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 287,426 shares of the company’s stock after acquiring an additional 60,524 shares during the quarter. TCW Group Inc.’s holdings in nVent Electric were worth $19,591,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Larson Financial Group LLC boosted its stake in nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares during the period. Crews Bank & Trust bought a new stake in nVent Electric during the 4th quarter valued at approximately $26,000. Huntington National Bank boosted its stake in nVent Electric by 57.3% during the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after purchasing an additional 223 shares during the period. Brooklyn Investment Group bought a new stake in nVent Electric during the 3rd quarter valued at approximately $44,000. Finally, Tsfg LLC bought a new stake in nVent Electric during the 4th quarter valued at approximately $51,000. Institutional investors own 90.05% of the company’s stock.

Insider Transactions at nVent Electric

In other news, Director Jerry W. Burris sold 6,558 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $80.00, for a total value of $524,640.00. Following the completion of the transaction, the director now directly owns 45,040 shares of the company’s stock, valued at approximately $3,603,200. This represents a 12.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.50% of the stock is currently owned by insiders.

nVent Electric Price Performance

Shares of NVT stock opened at $62.64 on Friday. The stock has a 50 day moving average of $68.84 and a two-hundred day moving average of $70.18. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. nVent Electric plc has a 12 month low of $56.44 and a 12 month high of $86.57. The company has a market capitalization of $10.34 billion, a P/E ratio of 31.96, a P/E/G ratio of 1.48 and a beta of 1.26.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.59 EPS for the quarter, hitting analysts’ consensus estimates of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. As a group, equities analysts expect that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be issued a $0.20 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.28%. nVent Electric’s payout ratio is presently 40.82%.

Wall Street Analysts Forecast Growth

NVT has been the subject of several recent analyst reports. Barclays increased their target price on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Citigroup decreased their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Royal Bank of Canada increased their target price on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, nVent Electric has a consensus rating of “Buy” and an average price target of $86.33.

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.