Mitsubishi UFJ Trust & Banking Corp Has $1.38 Million Position in nVent Electric PLC $NVT

Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of nVent Electric PLC (NYSE:NVT) by 357.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,956 shares of the company’s stock after acquiring an additional 10,903 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in nVent Electric were worth $1,377,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Teacher Retirement System of Texas raised its holdings in shares of nVent Electric by 1.7% during the third quarter. Teacher Retirement System of Texas now owns 42,052 shares of the company’s stock worth $4,148,000 after acquiring an additional 707 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of nVent Electric by 41.0% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,172 shares of the company’s stock worth $116,000 after purchasing an additional 341 shares in the last quarter. Naples Global Advisors LLC bought a new position in nVent Electric during the third quarter valued at approximately $243,000. Root Financial Partners LLC acquired a new position in shares of nVent Electric during the 3rd quarter valued at about $31,000. Finally, Arkadios Wealth Advisors acquired a new stake in shares of nVent Electric in the third quarter worth $394,000. 90.05% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at nVent Electric

In other news, insider Sara E. Zawoyski sold 115,557 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $112.78, for a total transaction of $13,032,518.46. Following the completion of the sale, the insider directly owned 66,680 shares of the company’s stock, valued at $7,520,170.40. This trade represents a 63.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Greg Scheu sold 5,591 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $104.04, for a total transaction of $581,687.64. Following the completion of the transaction, the director owned 14,348 shares of the company’s stock, valued at $1,492,765.92. This trade represents a 28.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 163,228 shares of company stock worth $18,345,001. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of nVent Electric from $111.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. KeyCorp raised their price target on nVent Electric from $103.00 to $114.00 and gave the company an “overweight” rating in a report on Tuesday, October 14th. Citigroup raised their price objective on shares of nVent Electric from $114.00 to $131.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $136.00 price target on shares of nVent Electric in a research note on Thursday, January 15th. Finally, Roth Mkm restated a “buy” rating and issued a $130.00 price target (up from $115.00) on shares of nVent Electric in a report on Monday, November 3rd. Nine investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, nVent Electric has a consensus rating of “Buy” and an average price target of $123.63.

nVent Electric Price Performance

Shares of NYSE:NVT opened at $112.25 on Friday. The firm has a market cap of $18.11 billion, a PE ratio of 30.92, a price-to-earnings-growth ratio of 1.24 and a beta of 1.34. nVent Electric PLC has a 52 week low of $41.71 and a 52 week high of $117.52. The firm’s fifty day moving average is $106.45 and its 200-day moving average is $99.03. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.11 and a current ratio of 1.57.

nVent Electric (NYSE:NVT) last announced its earnings results on Friday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. nVent Electric had a return on equity of 14.29% and a net margin of 16.83%.The firm’s revenue was up 34.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 earnings per share. Sell-side analysts predict that nVent Electric PLC will post 3.04 earnings per share for the current year.

nVent Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Shareholders of record on Friday, January 23rd will be paid a dividend of $0.21 per share. This is a boost from nVent Electric’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, January 23rd. This represents a $0.84 annualized dividend and a yield of 0.7%. nVent Electric’s dividend payout ratio (DPR) is 23.14%.

nVent Electric Profile

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.