Boston Partners reduced its position in shares of nVent Electric plc (NYSE:NVT - Free Report) by 98.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,079 shares of the company's stock after selling 1,652,444 shares during the quarter. Boston Partners' holdings in nVent Electric were worth $1,300,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Tocqueville Asset Management L.P. grew its stake in nVent Electric by 52.6% in the 4th quarter. Tocqueville Asset Management L.P. now owns 113,160 shares of the company's stock valued at $7,713,000 after acquiring an additional 38,990 shares during the period. William Blair Investment Management LLC lifted its stake in nVent Electric by 8.8% in the 4th quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company's stock valued at $176,630,000 after buying an additional 210,690 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in nVent Electric by 198.1% in the 4th quarter. Corient Private Wealth LLC now owns 71,873 shares of the company's stock worth $4,899,000 after buying an additional 47,761 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in nVent Electric by 115.1% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 32,450 shares of the company's stock worth $2,212,000 after buying an additional 17,362 shares in the last quarter. Finally, Avalon Trust Co acquired a new position in nVent Electric in the 4th quarter valued at $9,124,000. 90.05% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms recently weighed in on NVT. CL King upgraded shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price target on the stock in a research report on Monday, March 17th. Royal Bank of Canada upped their price target on nVent Electric from $85.00 to $86.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Seaport Res Ptn upgraded nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. Citigroup dropped 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. Finally, Barclays reduced their price target on nVent Electric from $83.00 to $75.00 and set an "overweight" rating on the stock in a report on Wednesday. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, nVent Electric presently has a consensus rating of "Buy" and a consensus price target of $82.00.
View Our Latest Report on nVent Electric
nVent Electric Trading Down 4.4 %
NYSE:NVT traded down $2.58 on Wednesday, reaching $55.87. The company's stock had a trading volume of 2,563,037 shares, compared to its average volume of 1,754,303. nVent Electric plc has a 12-month low of $51.99 and a 12-month high of $86.57. The stock has a 50 day moving average price of $63.20 and a 200 day moving average price of $69.01. The firm has a market cap of $9.22 billion, a price-to-earnings ratio of 28.50, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65.
nVent Electric (NYSE:NVT - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.59 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%. On average, equities analysts anticipate that nVent Electric plc will post 3.04 EPS for the current fiscal year.
nVent Electric Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric's payout ratio is 40.82%.
About nVent Electric
(
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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