Avalon Trust Co acquired a new stake in nVent Electric plc (NYSE:NVT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 133,865 shares of the company's stock, valued at approximately $9,124,000. Avalon Trust Co owned about 0.08% of nVent Electric at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its stake in shares of nVent Electric by 16.9% in the 4th quarter. Nordea Investment Management AB now owns 93,172 shares of the company's stock valued at $6,378,000 after acquiring an additional 13,483 shares during the last quarter. Geode Capital Management LLC raised its holdings in nVent Electric by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company's stock valued at $194,894,000 after buying an additional 29,794 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in nVent Electric in the 4th quarter valued at approximately $1,520,000. TT International Asset Management LTD raised its stake in shares of nVent Electric by 20.4% during the fourth quarter. TT International Asset Management LTD now owns 108,395 shares of the company's stock valued at $7,388,000 after acquiring an additional 18,376 shares during the last quarter. Finally, LVM Capital Management Ltd. MI lifted its holdings in shares of nVent Electric by 8.1% during the fourth quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company's stock worth $10,307,000 after purchasing an additional 11,349 shares during the period. Institutional investors and hedge funds own 90.05% of the company's stock.
Analyst Ratings Changes
Several research analysts have commented on NVT shares. Barclays cut their target price on nVent Electric from $88.00 to $83.00 and set an "overweight" rating on the stock in a report on Monday, March 3rd. CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price for the company in a research report on Monday. Citigroup dropped their price target 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, Royal Bank of Canada boosted their target price on shares of nVent Electric from $85.00 to $86.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $83.33.
Check Out Our Latest Stock Report on NVT
nVent Electric Stock Down 0.0 %
Shares of NYSE:NVT traded down $0.01 during trading on Thursday, reaching $56.85. 1,712,005 shares of the stock were exchanged, compared to its average volume of 1,739,139. nVent Electric plc has a 1-year low of $51.99 and a 1-year high of $86.57. The stock has a fifty day moving average of $64.13 and a two-hundred day moving average of $69.14. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The firm has a market cap of $9.38 billion, a price-to-earnings ratio of 29.01, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31.
nVent Electric (NYSE:NVT - Get Free Report) last released 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%. Research analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.
nVent Electric Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric's dividend payout ratio is currently 40.82%.
nVent Electric Company Profile
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Free Report)
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.
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