43,900 Shares in nVent Electric PLC $NVT Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of nVent Electric PLC (NYSE:NVT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 43,900 shares of the company’s stock, valued at approximately $4,476,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Trust Asset Management LLC acquired a new stake in shares of nVent Electric during the third quarter worth about $30,000. Root Financial Partners LLC acquired a new stake in shares of nVent Electric during the third quarter worth about $31,000. Advisory Services Network LLC acquired a new stake in shares of nVent Electric during the third quarter worth about $35,000. First Horizon Corp acquired a new stake in shares of nVent Electric during the third quarter worth about $41,000. Finally, Sentry Investment Management LLC acquired a new stake in shares of nVent Electric during the third quarter worth about $43,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Stock Up 0.7%

nVent Electric stock opened at $136.81 on Wednesday. The stock has a market capitalization of $22.12 billion, a PE ratio of 31.82, a price-to-earnings-growth ratio of 1.41 and a beta of 1.28. nVent Electric PLC has a 12 month low of $49.01 and a 12 month high of $139.15. The business has a 50 day simple moving average of $119.27 and a 200-day simple moving average of $110.76. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.63 and a quick ratio of 1.16.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Saturday, February 7th. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1 billion. nVent Electric had a return on equity of 15.18% and a net margin of 18.25%.The business’s revenue was up 41.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 earnings per share. On average, analysts anticipate that nVent Electric PLC will post 4.15 EPS for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Friday, April 24th will be given a $0.21 dividend. The ex-dividend date is Friday, April 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.6%. nVent Electric’s payout ratio is 19.53%.

Insider Activity

In other news, Director Jerry W. Burris sold 5,244 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $112.27, for a total value of $588,743.88. Following the completion of the sale, the director directly owned 46,371 shares in the company, valued at $5,206,072.17. The trade was a 10.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Beth Wozniak sold 7,597 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $116.47, for a total value of $884,822.59. Following the completion of the sale, the chief executive officer owned 52,990 shares of the company’s stock, valued at $6,171,745.30. This trade represents a 12.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 17,841 shares of company stock worth $2,046,166 over the last three months. 1.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Zacks Research downgraded nVent Electric from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. KeyCorp lifted their price target on nVent Electric from $125.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. Glj Research started coverage on nVent Electric in a research report on Thursday, March 5th. They set a “buy” rating and a $151.00 price target for the company. Weiss Ratings upgraded nVent Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 11th. Finally, Roth Mkm lifted their price target on nVent Electric from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, March 23rd. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, nVent Electric presently has an average rating of “Moderate Buy” and a consensus target price of $144.00.

About nVent Electric

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.