Amundi Sells 249,325 Shares of nVent Electric plc (NYSE:NVT)

Amundi lowered its position in nVent Electric plc (NYSE:NVT - Free Report) by 64.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 135,671 shares of the company's stock after selling 249,325 shares during the period. Amundi owned 0.08% of nVent Electric worth $9,477,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVT. Crews Bank & Trust acquired a new position in shares of nVent Electric during the 4th quarter worth $26,000. Larson Financial Group LLC increased its position in nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company's stock worth $27,000 after buying an additional 181 shares during the last quarter. Huntington National Bank raised its holdings in nVent Electric by 57.3% during the third quarter. Huntington National Bank now owns 612 shares of the company's stock valued at $43,000 after buying an additional 223 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of nVent Electric in the third quarter worth about $44,000. Finally, Tsfg LLC bought a new stake in shares of nVent Electric during the 4th quarter worth about $51,000. Institutional investors own 90.05% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NVT. Citigroup reduced their target price on nVent Electric from $91.00 to $90.00 and set a "buy" rating for the company in a report on Monday, January 13th. Royal Bank of Canada lifted their price target on shares of nVent Electric from $85.00 to $86.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective for the company in a report on Monday. Finally, Barclays dropped their target price on shares of nVent Electric from $88.00 to $83.00 and set an "overweight" rating on the stock in a report on Monday, March 3rd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $83.33.

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nVent Electric Price Performance

Shares of NYSE NVT traded down $1.24 during midday trading on Tuesday, reaching $55.46. 1,555,239 shares of the company traded hands, compared to its average volume of 1,734,529. The firm has a market cap of $9.15 billion, a PE ratio of 28.30, a PEG ratio of 1.48 and a beta of 1.31. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The stock's 50-day simple moving average is $64.69 and its 200-day simple moving average is $69.31. nVent Electric plc has a 12 month low of $51.99 and a 12 month high of $86.57.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, hitting the consensus estimate 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 anticipate that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Friday, April 25th. nVent Electric's dividend payout ratio is currently 40.82%.

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.