AMF Tjanstepension AB Boosts Stake in nVent Electric plc (NYSE:NVT)

AMF Tjanstepension AB lifted its holdings in nVent Electric plc (NYSE:NVT) by 17.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,331,682 shares of the company’s stock after buying an additional 198,568 shares during the period. AMF Tjanstepension AB owned approximately 0.80% of nVent Electric worth $100,409,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Quent Capital LLC raised its position in nVent Electric by 123.2% in the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after acquiring an additional 234 shares during the period. Banque Cantonale Vaudoise purchased a new position in nVent Electric in the first quarter valued at approximately $26,000. Livelsberger Financial Advisory bought a new position in nVent Electric during the fourth quarter valued at $28,000. Pacific Center for Financial Services purchased a new stake in nVent Electric in the third quarter worth $32,000. Finally, Rise Advisors LLC bought a new stake in shares of nVent Electric in the first quarter valued at $32,000. 90.05% of the stock is owned by institutional investors.

nVent Electric Price Performance

Shares of nVent Electric stock traded up $0.47 during trading on Friday, hitting $76.61. The stock had a trading volume of 2,091,947 shares, compared to its average volume of 1,406,787. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54. nVent Electric plc has a 12 month low of $45.60 and a 12 month high of $86.57. The firm has a market cap of $12.72 billion, a price-to-earnings ratio of 22.34, a P/E/G ratio of 1.75 and a beta of 1.31. The business’s 50-day moving average is $78.70 and its 200 day moving average is $69.77.

nVent Electric (NYSE:NVT) last announced its earnings results on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The business had revenue of $874.60 million for the quarter, compared to analyst estimates of $864.14 million. During the same period in the prior year, the company earned $0.67 EPS. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that nVent Electric plc will post 3.27 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Friday, July 19th. nVent Electric’s payout ratio is 22.16%.

Wall Street Analysts Forecast Growth

NVT has been the subject of several recent research reports. Royal Bank of Canada decreased their price objective on nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a report on Monday, May 6th. Citigroup raised their price objective on shares of nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of nVent Electric in a report on Monday, March 11th. They set a “buy” rating and a $83.00 target price on the stock. Barclays raised their price target on nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, June 4th. Finally, The Goldman Sachs Group boosted their price objective on nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Monday, May 6th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $89.00.

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.