TD Waterhouse Canada Inc. Has $650,000 Stake in nVent Electric PLC $NVT

TD Waterhouse Canada Inc. lifted its stake in shares of nVent Electric PLC (NYSE:NVT) by 1,108.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,491 shares of the company’s stock after acquiring an additional 5,954 shares during the period. TD Waterhouse Canada Inc.’s holdings in nVent Electric were worth $650,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp grew its holdings in nVent Electric by 1.9% in the third quarter. Bank of New York Mellon Corp now owns 1,715,006 shares of the company’s stock worth $169,168,000 after purchasing an additional 32,128 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in shares of nVent Electric by 4.8% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 34,479 shares of the company’s stock worth $3,404,000 after purchasing an additional 1,590 shares in the last quarter. First Citizens Bank & Trust Co. grew its stake in shares of nVent Electric by 9.1% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 17,590 shares of the company’s stock valued at $1,735,000 after buying an additional 1,463 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in nVent Electric by 357.1% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 13,956 shares of the company’s stock valued at $1,377,000 after buying an additional 10,903 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in nVent Electric by 1.7% during the 3rd quarter. Teacher Retirement System of Texas now owns 42,052 shares of the company’s stock worth $4,148,000 after buying an additional 707 shares during the period. 90.05% of the stock is owned by institutional investors.

nVent Electric Price Performance

Shares of NYSE:NVT opened at $115.75 on Tuesday. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.44. The stock has a market cap of $18.68 billion, a PE ratio of 31.89, a price-to-earnings-growth ratio of 1.20 and a beta of 1.33. The stock’s fifty day simple moving average is $106.69 and its two-hundred day simple moving average is $99.47. nVent Electric PLC has a 1-year low of $41.71 and a 1-year high of $117.52.

nVent Electric (NYSE:NVT) last announced its earnings results on Friday, October 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. nVent Electric had a net margin of 16.83% and a return on equity of 14.29%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. The firm’s revenue for the quarter was up 34.8% on a year-over-year basis. As a group, analysts forecast that nVent Electric PLC will post 3.04 EPS for the current fiscal year.

nVent Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Shareholders of record on Friday, January 23rd will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, January 23rd. This is a positive change from nVent Electric’s previous quarterly dividend of $0.20. nVent Electric’s payout ratio is currently 23.14%.

Wall Street Analyst Weigh In

A number of brokerages have commented on NVT. KeyCorp raised their price objective on nVent Electric from $103.00 to $114.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Wall Street Zen upgraded nVent Electric from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 18th. Royal Bank Of Canada restated an “outperform” rating and set a $136.00 price target on shares of nVent Electric in a research note on Thursday, January 15th. UBS Group began coverage on shares of nVent Electric in a report on Thursday, November 20th. They set a “buy” rating and a $128.00 price objective on the stock. Finally, Citigroup lifted their price objective on shares of nVent Electric from $114.00 to $131.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Nine analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $123.63.

Insider Activity

In related news, CAO Randolph A. Wacker sold 5,000 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $110.08, for a total transaction of $550,400.00. Following the completion of the sale, the chief accounting officer directly owned 26,400 shares of the company’s stock, valued at approximately $2,906,112. This trade represents a 15.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sara E. Zawoyski sold 115,557 shares of nVent Electric stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $112.78, for a total value of $13,032,518.46. Following the sale, the insider owned 66,680 shares in the company, valued at $7,520,170.40. This trade represents a 63.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 130,285 shares of company stock worth $14,621,124 in the last quarter. 2.50% of the stock is owned by corporate insiders.

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.