Principal Financial Group Inc. Sells 196,207 Shares of nVent Electric plc (NYSE:NVT)

Principal Financial Group Inc. decreased its holdings in nVent Electric plc (NYSE:NVT) by 11.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,567,047 shares of the company’s stock after selling 196,207 shares during the period. Principal Financial Group Inc. owned 0.95% of nVent Electric worth $106,803,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Swedbank AB purchased a new stake in nVent Electric in the 3rd quarter worth about $110,663,000. Franklin Resources Inc. raised its position in nVent Electric by 22.1% in the 3rd quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock worth $527,374,000 after purchasing an additional 1,269,335 shares during the period. Clean Energy Transition LLP raised its position in nVent Electric by 56.5% in the 3rd quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock worth $158,411,000 after purchasing an additional 813,909 shares during the period. Artemis Investment Management LLP raised its position in nVent Electric by 235.9% in the 4th quarter. Artemis Investment Management LLP now owns 763,075 shares of the company’s stock worth $52,011,000 after purchasing an additional 535,881 shares during the period. Finally, Janus Henderson Group PLC raised its position in nVent Electric by 23.6% in the 3rd quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock worth $171,492,000 after purchasing an additional 466,042 shares during the period. Institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Performance

Shares of NYSE:NVT opened at $68.86 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.36 and a current ratio of 1.73. The firm’s 50 day simple moving average is $69.53 and its 200-day simple moving average is $70.13. nVent Electric plc has a one year low of $56.44 and a one year high of $86.57. The firm has a market cap of $11.35 billion, a PE ratio of 35.13, a price-to-earnings-growth ratio of 3.01 and a beta of 1.26.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. As a group, equities analysts predict that nVent Electric plc will post 3.03 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.16%. nVent Electric’s dividend payout ratio is presently 40.82%.

Insider Activity

In other news, Director Jerry W. Burris sold 6,558 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the transaction, the director now directly owns 45,040 shares in the company, valued at approximately $3,603,200. This trade represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NVT. Royal Bank of Canada increased their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Citigroup reduced their target price on shares of 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, Barclays raised their target price on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $86.33.

nVent Electric Company 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.