Clearbridge Investments LLC Has $35.91 Million Stock Position in nVent Electric PLC (NYSE:NVT)

Clearbridge Investments LLC raised its stake in nVent Electric PLC (NYSE:NVT) by 0.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,330,906 shares of the company’s stock after purchasing an additional 6,889 shares during the period. Clearbridge Investments LLC owned 0.76% of nVent Electric worth $35,908,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in NVT. JPMorgan Chase & Co. raised its position in nVent Electric by 31.8% during the third quarter. JPMorgan Chase & Co. now owns 214,555 shares of the company’s stock valued at $5,828,000 after buying an additional 51,761 shares during the period. Vanguard Group Inc increased its position in nVent Electric by 1.2% in the 3rd quarter. Vanguard Group Inc now owns 14,253,847 shares of the company’s stock worth $387,135,000 after purchasing an additional 174,628 shares during the last quarter. SG Americas Securities LLC increased its position in nVent Electric by 92.5% in the 4th quarter. SG Americas Securities LLC now owns 35,176 shares of the company’s stock worth $790,000 after purchasing an additional 16,904 shares during the last quarter. Comerica Bank increased its position in nVent Electric by 1.5% in the 4th quarter. Comerica Bank now owns 120,270 shares of the company’s stock worth $2,984,000 after purchasing an additional 1,786 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in nVent Electric by 88.8% in the 4th quarter. Prudential Financial Inc. now owns 595,138 shares of the company’s stock worth $13,366,000 after purchasing an additional 279,842 shares during the last quarter. Institutional investors own 86.10% of the company’s stock.

In other news, Director Michael L. Ducker acquired 2,000 shares of nVent Electric stock in a transaction on Wednesday, May 22nd. The stock was bought at an average price of $24.07 per share, for a total transaction of $48,140.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Trian Fund Management, L.P. sold 648,885 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $28.01, for a total value of $18,175,268.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,015,786 shares of company stock valued at $101,315,702. 1.60% of the stock is owned by corporate insiders.

NYSE:NVT traded up $0.51 during mid-day trading on Friday, hitting $24.72. 571,196 shares of the company’s stock traded hands, compared to its average volume of 945,513. The firm’s 50 day moving average price is $24.26. nVent Electric PLC has a 12 month low of $19.71 and a 12 month high of $29.84. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 14.21 and a beta of 1.54. The company has a quick ratio of 1.22, a current ratio of 1.82 and a debt-to-equity ratio of 0.35.

nVent Electric (NYSE:NVT) last announced its earnings results on Thursday, April 25th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. nVent Electric had a return on equity of 11.66% and a net margin of 10.62%. The firm had revenue of $538.00 million during the quarter, compared to the consensus estimate of $546.43 million. The business’s revenue was down .2% on a year-over-year basis. On average, equities analysts forecast that nVent Electric PLC will post 1.87 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be paid a dividend of $0.175 per share. The ex-dividend date is Thursday, July 18th. This represents a $0.70 annualized dividend and a yield of 2.83%. nVent Electric’s payout ratio is 40.23%.

NVT has been the topic of several research reports. Buckingham Research set a $31.00 target price on nVent Electric and gave the stock a “buy” rating in a research report on Friday, April 26th. ValuEngine raised Zillow Group from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Zacks Investment Research raised Hudson Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. nVent Electric has an average rating of “Hold” and a consensus target price of $28.67.

About nVent Electric

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.

Further Reading: Investing in Dividend Stocks

Institutional Ownership by Quarter for nVent Electric (NYSE:NVT)

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