Capital Research Global Investors Purchases New Stake in nVent Electric plc (NYSE:NVT)

Capital Research Global Investors bought a new stake in nVent Electric plc (NYSE:NVT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 5,644,798 shares of the company's stock, valued at approximately $384,749,000. Capital Research Global Investors owned approximately 3.42% of nVent Electric as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Crews Bank & Trust acquired a new position in nVent Electric in the fourth quarter valued at about $26,000. Tsfg LLC acquired a new position in shares of nVent Electric in the 4th quarter worth approximately $51,000. Raleigh Capital Management Inc. increased its holdings in nVent Electric by 547.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 751 shares of the company's stock valued at $51,000 after purchasing an additional 635 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of nVent Electric by 26.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company's stock worth $53,000 after purchasing an additional 162 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in nVent Electric by 243.5% during the 4th quarter. Blue Trust Inc. now owns 869 shares of the company's stock worth $61,000 after acquiring an additional 616 shares during the last quarter. Institutional investors own 90.05% of the company's stock.

Wall Street Analyst Weigh In

NVT has been the subject of a number of recent research reports. Royal Bank of Canada boosted their target price on nVent Electric from $85.00 to $86.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. KeyCorp lowered their price target on nVent Electric from $75.00 to $60.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. CL King upgraded nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price for the company in a report on Monday, March 17th. Seaport Res Ptn upgraded nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. Finally, Citigroup lowered their price objective on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $69.00.

nVent Electric Stock Performance

Shares of nVent Electric stock traded up $2.38 on Thursday, hitting $54.63. The stock had a trading volume of 1,804,734 shares, compared to its average volume of 1,894,583. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The business's 50 day moving average is $54.93 and its two-hundred day moving average is $66.22. nVent Electric plc has a twelve month low of $41.71 and a twelve month high of $86.57. The stock has a market cap of $8.99 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21.

nVent Electric (NYSE:NVT - Get Free Report) last announced its earnings results 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%. Analysts forecast that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.46%. nVent Electric's payout ratio is 40.82%.

About nVent Electric

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.