The Manufacturers Life Insurance Company Purchases 16,154 Shares of nVent Electric plc (NYSE:NVT)

The Manufacturers Life Insurance Company increased its holdings in nVent Electric plc (NYSE:NVT) by 8.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 212,096 shares of the company’s stock after buying an additional 16,154 shares during the period. The Manufacturers Life Insurance Company owned 0.13% of nVent Electric worth $14,902,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its stake in 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 acquiring an additional 673,990 shares during the last quarter. Principal Financial Group Inc. boosted its stake in nVent Electric by 1.7% in the third quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company’s stock worth $123,891,000 after buying an additional 28,876 shares in the last quarter. Swedbank AB bought a new position in nVent Electric during the third quarter valued at approximately $110,663,000. Millennium Management LLC raised its stake in shares of nVent Electric by 159.9% during the second 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. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of nVent Electric by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,035,463 shares of the company’s stock worth $72,752,000 after acquiring an additional 3,599 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

Insiders Place Their Bets

In other nVent Electric news, EVP Jon D. Lammers sold 67,297 shares of the 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 completion of the transaction, the executive vice president now owns 58,121 shares in the company, valued at approximately $4,421,264.47. This represents a 53.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jerry W. Burris sold 6,558 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the sale, the director now directly owns 45,040 shares in the company, valued at $3,603,200. This represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 96,382 shares of company stock worth $7,365,956. Company insiders own 2.50% of the company’s stock.

nVent Electric Price Performance

Shares of nVent Electric stock opened at $78.31 on Monday. The business has a 50 day moving average of $73.57 and a 200 day moving average of $73.07. nVent Electric plc has a 52 week low of $52.70 and a 52 week high of $86.57. The company has a market cap of $12.91 billion, a PE ratio of 22.96, a P/E/G ratio of 4.03 and a beta of 1.26. The company has a quick ratio of 1.36, a current ratio of 1.83 and a debt-to-equity ratio of 0.68.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data 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 return on equity of 15.66% and a net margin of 16.95%. The company had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. During the same quarter last year, the company posted $0.84 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities research analysts forecast that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 annualized dividend and a yield of 0.97%. nVent Electric’s payout ratio is 22.29%.

Analysts Set New Price Targets

A number of brokerages recently commented on NVT. Royal Bank of Canada decreased their target price on shares of 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 reduced their price target on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Finally, KeyCorp increased their price objective on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nVent Electric has a consensus rating of “Buy” and a consensus price target of $85.33.

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.