nVent Electric PLC $NVT Stock: Sumitomo Mitsui Trust Group Inc. Grows Position

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of nVent Electric PLC (NYSE:NVT) by 961.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 335,231 shares of the company’s stock after acquiring an additional 303,656 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in nVent Electric were worth $53,761,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NVT. Mirae Asset Global Investments Co. Ltd. acquired a new stake in nVent Electric during the third quarter worth approximately $10,691,000. Vise Technologies Inc. lifted its position in shares of nVent Electric by 80.1% during the 3rd quarter. Vise Technologies Inc. now owns 5,542 shares of the company’s stock worth $889,000 after buying an additional 2,465 shares during the last quarter. State of Wyoming boosted its holdings in shares of nVent Electric by 28.1% in the 3rd quarter. State of Wyoming now owns 2,638 shares of the company’s stock valued at $423,000 after buying an additional 578 shares in the last quarter. Choreo LLC boosted its holdings in shares of nVent Electric by 2.8% in the 3rd quarter. Choreo LLC now owns 3,122 shares of the company’s stock valued at $501,000 after buying an additional 86 shares in the last quarter. Finally, Interchange Capital Partners LLC boosted its holdings in shares of nVent Electric by 2.9% in the 3rd quarter. Interchange Capital Partners LLC now owns 2,885 shares of the company’s stock valued at $463,000 after buying an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Insider Activity at nVent Electric

In related news, insider Robert van der Kolk sold 5,858 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $164.32, for a total transaction of $962,586.56. Following the sale, the insider owned 27,387 shares of the company’s stock, valued at approximately $4,500,231.84. The trade was a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is owned by company insiders.

nVent Electric Trading Up 4.5%

NYSE:NVT opened at $129.28 on Wednesday. nVent Electric PLC has a 1 year low of $93.22 and a 1 year high of $184.64. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.93 and a current ratio of 2.40. The stock has a fifty day moving average price of $151.83 and a two-hundred day moving average price of $144.56. The stock has a market capitalization of $20.89 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 0.64 and a beta of 1.39.

nVent Electric (NYSE:NVT) last issued its earnings results on Friday, October 30th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.40 by $0.12. nVent Electric had a net margin of 12.84% and a return on equity of 20.82%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the firm earned $0.91 EPS. The business’s revenue was up 43.7% on a year-over-year basis. As a group, sell-side analysts anticipate that nVent Electric PLC will post 5.39 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 6th. Investors of record on Friday, October 23rd will be paid a $0.21 dividend. The ex-dividend date is Friday, October 23rd. This represents a $0.84 annualized dividend and a dividend yield of 0.6%. nVent Electric’s dividend payout ratio (DPR) is 20.24%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Wall Street Zen downgraded shares of nVent Electric from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 17th. Wells Fargo & Company boosted their price target on shares of nVent Electric from $182.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday. Weiss Ratings downgraded shares of nVent Electric from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Clear Str upgraded shares of nVent Electric to a “strong-buy” rating in a research note on Monday, July 13th. Finally, Zacks Research lowered nVent Electric from a “strong-buy” rating to a “hold” rating in a report on Friday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $197.82.

nVent Electric Company Profile

nVent Electric plc is a global provider of electrical connection, protection and management solutions. The company designs and manufactures products that help protect electrical and electronic systems, manage heat, and support the installation and operation of critical infrastructure.

Its products include electrical and electronic enclosures, industrial cooling and thermal-management systems, cable management and fastening solutions, grounding and bonding equipment, busway and power-distribution products, and related connection technologies.