M&T Bank Corp Grows Position in nVent Electric plc (NYSE:NVT)

M&T Bank Corp grew its position in shares of nVent Electric plc (NYSE:NVT) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 718,069 shares of the company’s stock after acquiring an additional 9,403 shares during the quarter. M&T Bank Corp owned 0.43% of nVent Electric worth $42,430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. FMR LLC increased its position in shares of nVent Electric by 41.8% during the 3rd quarter. FMR LLC now owns 6,556,055 shares of the company’s stock valued at $347,405,000 after purchasing an additional 1,932,142 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in nVent Electric by 68.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,952,040 shares of the company’s stock valued at $209,419,000 after acquiring an additional 1,604,534 shares during the last quarter. Congress Asset Management Co. MA bought a new position in shares of nVent Electric during the 3rd quarter valued at approximately $116,908,000. Invesco Ltd. increased its stake in shares of nVent Electric by 21.4% during the 3rd quarter. Invesco Ltd. now owns 1,653,137 shares of the company’s stock worth $87,600,000 after purchasing an additional 291,426 shares during the last quarter. Finally, Robeco Schweiz AG raised its holdings in shares of nVent Electric by 3,911.6% in the 3rd quarter. Robeco Schweiz AG now owns 1,315,800 shares of the company’s stock worth $69,724,000 after purchasing an additional 1,283,000 shares during the period. Institutional investors own 90.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NVT. Deutsche Bank Aktiengesellschaft initiated coverage on nVent Electric in a research report on Monday, March 11th. They issued a “buy” rating and a $83.00 target price for the company. Royal Bank of Canada upped their price objective on shares of nVent Electric from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. The Goldman Sachs Group boosted their price target on shares of nVent Electric from $69.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Citigroup raised their price objective on shares of nVent Electric from $71.00 to $91.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Barclays boosted their target price on shares of nVent Electric from $74.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $81.60.

Insider Buying and Selling

In other nVent Electric news, insider Joseph A. Ruzynski sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $64.23, for a total value of $160,575.00. Following the completion of the transaction, the insider now owns 36,013 shares of the company’s stock, valued at approximately $2,313,114.99. The transaction was disclosed in a filing with the SEC, which is available through this link. In other nVent Electric news, insider Joseph A. Ruzynski sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $64.23, for a total transaction of $160,575.00. Following the sale, the insider now owns 36,013 shares in the company, valued at $2,313,114.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jerry W. Burris sold 4,008 shares of nVent Electric stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $63.39, for a total value of $254,067.12. Following the sale, the director now directly owns 43,072 shares of the company’s stock, valued at approximately $2,730,334.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 400,252 shares of company stock worth $25,713,777. Insiders own 2.50% of the company’s stock.

nVent Electric Price Performance

NYSE NVT traded up $3.99 on Friday, hitting $75.89. The stock had a trading volume of 3,015,107 shares, compared to its average volume of 1,525,818. The firm has a 50-day moving average of $72.22 and a 200-day moving average of $61.65. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.82. nVent Electric plc has a 52-week low of $40.22 and a 52-week high of $78.98. The company has a market capitalization of $12.59 billion, a price-to-earnings ratio of 22.52, a price-to-earnings-growth ratio of 1.55 and a beta of 1.35.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Friday, May 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. The company had revenue of $874.60 million for the quarter, compared to the consensus estimate of $864.14 million. During the same quarter last year, the business posted $0.67 earnings per share. The firm’s revenue was up 18.0% compared to the same quarter last year. Equities analysts expect that nVent Electric plc will post 3.24 EPS for the current year.

nVent Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Thursday, April 25th. nVent Electric’s payout ratio is 22.55%.

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.