Schroder Investment Management Group cut its stake in shares of nVent Electric plc (NYSE:NVT – Get Rating) by 1.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,459 shares of the company’s stock after selling 494 shares during the period. Schroder Investment Management Group’s holdings in nVent Electric were worth $979,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of nVent Electric by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 17,799,850 shares of the company’s stock valued at $619,079,000 after buying an additional 302,124 shares during the period. BlackRock Inc. lifted its holdings in shares of nVent Electric by 3.2% during the 1st quarter. BlackRock Inc. now owns 14,459,036 shares of the company’s stock valued at $502,885,000 after acquiring an additional 454,668 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of nVent Electric by 0.5% during the 4th quarter. Franklin Resources Inc. now owns 5,618,501 shares of the company’s stock valued at $216,144,000 after acquiring an additional 28,456 shares in the last quarter. State Street Corp lifted its holdings in shares of nVent Electric by 3.3% during the 1st quarter. State Street Corp now owns 4,800,623 shares of the company’s stock valued at $166,966,000 after acquiring an additional 152,277 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of nVent Electric by 0.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,980,810 shares of the company’s stock valued at $125,834,000 after acquiring an additional 22,841 shares in the last quarter. 87.12% of the stock is owned by hedge funds and other institutional investors.
nVent Electric Stock Performance
Shares of NVT stock opened at $46.13 on Friday. nVent Electric plc has a 12 month low of $29.19 and a 12 month high of $46.66. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.08 and a quick ratio of 1.47. The firm has a market capitalization of $7.64 billion, a P/E ratio of 18.23 and a beta of 1.31. The company’s fifty day moving average price is $42.58 and its two-hundred day moving average price is $41.55.
nVent Electric Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, August 4th. Stockholders of record on Friday, July 21st will be paid a $0.175 dividend. The ex-dividend date is Thursday, July 20th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.52%. nVent Electric’s dividend payout ratio (DPR) is presently 27.67%.
Insider Activity
In related news, Director Greg Scheu bought 4,700 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were acquired at an average price of $43.23 per share, for a total transaction of $203,181.00. Following the purchase, the director now owns 16,828 shares in the company, valued at approximately $727,474.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Sara E. Zawoyski sold 2,178 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $45.17, for a total transaction of $98,380.26. Following the completion of the sale, the chief financial officer now owns 63,778 shares of the company’s stock, valued at approximately $2,880,852.26. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Greg Scheu acquired 4,700 shares of the stock in a transaction that occurred on Monday, May 22nd. The shares were acquired at an average cost of $43.23 per share, with a total value of $203,181.00. Following the transaction, the director now owns 16,828 shares in the company, valued at $727,474.44. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 8,726 shares of company stock worth $382,796. 2.40% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on NVT. The Goldman Sachs Group lifted their target price on shares of nVent Electric from $55.00 to $58.00 in a report on Tuesday, May 30th. Royal Bank of Canada lifted their target price on shares of nVent Electric from $50.00 to $53.00 in a report on Monday, May 22nd. Finally, Barclays lifted their target price on shares of nVent Electric from $53.00 to $55.00 in a report on Monday, May 1st.
About nVent Electric
nVent Electric Plc engages in the provision of electrical connection and protection solutions. It operates through the following segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions. The Enclosures segment offers solutions that protect, connect, and manage heat in critical electronics, communication, control, and power equipment.
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