nVent Electric plc (NYSE:NVT) Holdings Raised by TCW Group Inc.

TCW Group Inc. grew its stake in shares of nVent Electric plc (NYSE:NVT) by 26.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 287,426 shares of the company’s stock after purchasing an additional 60,524 shares during the period. TCW Group Inc. owned about 0.17% of nVent Electric worth $19,591,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Larson Financial Group LLC lifted its holdings in shares of nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. Crews Bank & Trust purchased a new stake in shares of nVent Electric during the fourth quarter valued at $26,000. Huntington National Bank lifted its holdings in shares of nVent Electric by 57.3% during the third quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after purchasing an additional 223 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of nVent Electric during the third quarter valued at $44,000. Finally, Tsfg LLC purchased a new stake in shares of nVent Electric during the fourth quarter valued at $51,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NVT has been the topic of several recent analyst reports. Barclays upped their price target on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Citigroup dropped their price target on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Royal Bank of Canada upped their price target on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $86.33.

Insiders Place Their Bets

In other news, Director Jerry W. Burris sold 6,558 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the sale, the director now owns 45,040 shares in the company, valued at approximately $3,603,200. This represents a 12.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.50% of the company’s stock.

nVent Electric Stock Performance

Shares of NVT stock opened at $62.64 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. nVent Electric plc has a fifty-two week low of $56.44 and a fifty-two week high of $86.57. The stock’s 50-day moving average is $68.84 and its two-hundred day moving average is $70.18. The firm has a market cap of $10.34 billion, a P/E ratio of 31.96, a PEG ratio of 1.48 and a beta of 1.26.

nVent Electric (NYSE:NVT) last issued its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. Analysts predict that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s payout ratio is currently 40.82%.

nVent Electric 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.