Healthcare of Ontario Pension Plan Trust Fund Purchases 15,438 Shares of nVent Electric plc (NYSE:NVT)

Healthcare of Ontario Pension Plan Trust Fund raised its position in nVent Electric plc (NYSE:NVT) by 125.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,721 shares of the company’s stock after acquiring an additional 15,438 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in nVent Electric were worth $1,948,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bridgewater Associates LP purchased a new stake in shares of nVent Electric during the 3rd quarter valued at about $1,781,000. Thematics Asset Management increased its holdings in nVent Electric by 11.6% during the third quarter. Thematics Asset Management now owns 864,708 shares of the company’s stock valued at $60,754,000 after buying an additional 90,000 shares during the last quarter. Transamerica Financial Advisors Inc. raised its position in nVent Electric by 2,194.2% in the third quarter. Transamerica Financial Advisors Inc. now owns 2,386 shares of the company’s stock worth $168,000 after acquiring an additional 2,282 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of nVent Electric by 1.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 73,369 shares of the company’s stock worth $5,155,000 after acquiring an additional 874 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of nVent Electric during the 3rd quarter valued at $44,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

nVent Electric Stock Performance

NYSE:NVT opened at $78.31 on Monday. The stock has a 50-day moving average price of $73.57 and a 200 day moving average price of $73.07. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. nVent Electric plc has a 12-month low of $52.70 and a 12-month high of $86.57. The stock has a market capitalization of $12.91 billion, a P/E ratio of 22.96, a P/E/G ratio of 4.03 and a beta of 1.26.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.18). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The company had revenue of $782.00 million for the quarter, compared to the consensus estimate of $937.37 million. During the same quarter in the previous year, the business earned $0.84 EPS. The company’s quarterly revenue was up 9.4% on a year-over-year basis. Equities research analysts forecast that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.97%. The ex-dividend date was Friday, October 18th. nVent Electric’s payout ratio is currently 22.29%.

Wall Street Analyst Weigh In

NVT has been the topic of a number of recent research reports. Barclays decreased their target price on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Royal Bank of Canada lowered their price objective on nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Finally, KeyCorp increased their target price on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, nVent Electric has an average rating of “Buy” and an average price target of $85.33.

Insider Buying and Selling at nVent Electric

In other news, EVP Jon D. Lammers sold 67,297 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the completion of the transaction, the executive vice president now directly owns 58,121 shares in the company, valued at approximately $4,421,264.47. This represents a 53.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Randolph A. Wacker sold 8,022 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total transaction of $608,629.14. Following the completion of the transaction, the chief accounting officer now directly owns 25,993 shares of the company’s stock, valued at approximately $1,972,088.91. This trade represents a 23.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,382 shares of company stock valued at $7,365,956 in the last 90 days. Insiders own 2.50% of the company’s stock.

About nVent Electric

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.