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

Daiwa Securities Group Inc. increased its stake in nVent Electric plc (NYSE:NVT) by 227.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,150 shares of the company’s stock after purchasing an additional 32,050 shares during the period. Daiwa Securities Group Inc.’s holdings in nVent Electric were worth $3,242,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Signaturefd LLC raised its position in shares of nVent Electric by 22.0% during the second quarter. Signaturefd LLC now owns 860 shares of the company’s stock worth $66,000 after acquiring an additional 155 shares during the last quarter. CIBC Asset Management Inc lifted its position in nVent Electric by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 4,823 shares of the company’s stock valued at $339,000 after purchasing an additional 166 shares during the period. Larson Financial Group LLC grew its position in shares of nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after buying an additional 181 shares during the period. Huntington National Bank grew its position in shares of nVent Electric by 57.3% during the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after buying an additional 223 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in nVent Electric by 15.7% in the first quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the company’s stock valued at $145,000 after buying an additional 272 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on NVT shares. KeyCorp increased their price target on nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Royal Bank of Canada cut their target price on nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Finally, Barclays decreased their target price 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. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, nVent Electric currently has an average rating of “Buy” and a consensus price target of $85.33.

Insider Buying and Selling

In other news, CAO Randolph A. Wacker sold 8,022 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total transaction of $608,629.14. Following the completion of the transaction, the chief accounting officer now directly owns 25,993 shares of the company’s stock, valued at $1,972,088.91. This represents a 23.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jon D. Lammers sold 67,297 shares of nVent Electric stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $76.07, for a total value of $5,119,282.79. Following the completion of the sale, the executive vice president now directly owns 58,121 shares in the company, valued at approximately $4,421,264.47. This represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 96,382 shares of company stock valued at $7,365,956. Company insiders own 2.50% of the company’s stock.

nVent Electric Stock Down 1.9 %

NYSE:NVT opened at $76.53 on Thursday. nVent Electric plc has a 1 year low of $52.26 and a 1 year high of $86.57. The stock has a 50-day moving average price of $73.30 and a two-hundred day moving average price of $73.20. The stock has a market cap of $12.61 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 4.03 and a beta of 1.26. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68.

nVent Electric (NYSE:NVT) last announced its 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 return on equity of 15.66% and a net margin of 16.95%. The company had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. During the same quarter last year, the business posted $0.84 earnings per share. The business’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities analysts expect that nVent Electric plc will post 2.5 earnings per share for the current year.

nVent Electric Dividend Announcement

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

nVent Electric Company 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.