M&T Bank Corp Raises Stake in nVent Electric plc (NYSE:NVT)

M&T Bank Corp increased its stake in nVent Electric plc (NYSE:NVT) by 1.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 718,069 shares of the company’s stock after acquiring an additional 9,403 shares during the quarter. M&T Bank Corp’s holdings in nVent Electric were worth $42,430,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Quent Capital LLC lifted its holdings in shares of nVent Electric by 123.2% in the 4th quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after buying an additional 234 shares during the period. HM Payson & Co. bought a new position in nVent Electric during the 3rd quarter worth about $26,000. Pacific Center for Financial Services purchased a new position in nVent Electric during the 3rd quarter valued at about $32,000. Baystate Wealth Management LLC bought a new stake in shares of nVent Electric in the 3rd quarter valued at about $33,000. Finally, Headlands Technologies LLC purchased a new stake in shares of nVent Electric in the 3rd quarter worth approximately $35,000. Institutional investors own 90.05% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of nVent Electric from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. The Goldman Sachs Group boosted their price target on nVent Electric from $69.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Citigroup raised their price objective on nVent Electric from $71.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Barclays boosted their target price on shares of nVent Electric from $74.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of nVent Electric in a report on Monday, March 11th. They issued a “buy” rating and a $83.00 price target on the stock. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $81.60.

nVent Electric Stock Up 5.5 %

NYSE:NVT traded up $3.99 during mid-day trading on Friday, hitting $75.89. 3,015,107 shares of the company’s stock traded hands, compared to its average volume of 1,525,818. The company has a fifty day moving average of $72.22 and a 200 day moving average of $61.65. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.82. nVent Electric plc has a twelve month low of $40.22 and a twelve month high of $78.98. The company has a market capitalization of $12.59 billion, a P/E ratio of 22.52, a P/E/G ratio of 1.55 and a beta of 1.35.

nVent Electric (NYSE:NVT) last issued its quarterly 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. The business had revenue of $874.60 million for the quarter, compared to analyst estimates of $864.14 million. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. The company’s revenue was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.67 earnings per share. On average, analysts forecast that nVent Electric plc will post 3.24 EPS for the current year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.76 annualized dividend and a dividend yield of 1.00%. nVent Electric’s payout ratio is currently 22.55%.

Insider Transactions at nVent Electric

In related news, CEO Beth Wozniak sold 198,211 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $64.29, for a total value of $12,742,985.19. Following the completion of the transaction, the chief executive officer now owns 342 shares in the company, valued at approximately $21,987.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Beth Wozniak sold 198,211 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $64.29, for a total value of $12,742,985.19. Following the transaction, the chief executive officer now owns 342 shares in the company, valued at approximately $21,987.18. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Joseph A. Ruzynski sold 2,500 shares of nVent Electric stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $64.23, for a total transaction of $160,575.00. Following the sale, the insider now owns 36,013 shares of the company’s stock, valued at $2,313,114.99. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 400,252 shares of company stock worth $25,713,777. Company insiders own 2.50% of the company’s stock.

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.