Clean Energy Transition LLP Sells 138,968 Shares of nVent Electric plc (NYSE:NVT)

Clean Energy Transition LLP lowered its position in shares of nVent Electric plc (NYSE:NVT - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,115,665 shares of the company's stock after selling 138,968 shares during the period. nVent Electric accounts for approximately 5.4% of Clean Energy Transition LLP's portfolio, making the stock its 3rd largest position. Clean Energy Transition LLP owned 1.28% of nVent Electric worth $144,204,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Treasurer of the State of North Carolina lifted its position in shares of nVent Electric by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 72,632 shares of the company's stock worth $4,951,000 after buying an additional 450 shares during the last quarter. Bessemer Group Inc. raised its stake in nVent Electric by 199.8% during the 4th quarter. Bessemer Group Inc. now owns 1,313 shares of the company's stock worth $89,000 after acquiring an additional 875 shares in the last quarter. Waddell & Associates LLC lifted its position in nVent Electric by 43.3% in the fourth quarter. Waddell & Associates LLC now owns 5,542 shares of the company's stock valued at $378,000 after acquiring an additional 1,675 shares during the last quarter. FIL Ltd boosted its stake in nVent Electric by 232.6% in the fourth quarter. FIL Ltd now owns 597,190 shares of the company's stock valued at $40,704,000 after acquiring an additional 417,649 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in nVent Electric by 15.0% in the fourth quarter. Invesco Ltd. now owns 1,723,868 shares of the company's stock valued at $117,499,000 after acquiring an additional 224,657 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

Remove Ads

nVent Electric Stock Performance

Shares of NVT stock traded up $0.60 during mid-day trading on Tuesday, hitting $50.57. The stock had a trading volume of 1,662,776 shares, compared to its average volume of 1,883,743. 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 $8.33 billion, a PE ratio of 25.80, a PEG ratio of 1.48 and a beta of 1.21. nVent Electric plc has a fifty-two week low of $41.71 and a fifty-two week high of $86.57. The company's 50-day simple moving average is $57.36 and its 200-day simple moving average is $67.10.

nVent Electric (NYSE:NVT - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. Sell-side analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently declared 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 1.58%. nVent Electric's dividend payout ratio (DPR) is presently 40.82%.

Analysts Set New Price Targets

Several research firms have recently weighed in on NVT. Royal Bank of Canada boosted their target price on nVent Electric from $85.00 to $86.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Barclays lowered their target price on shares of nVent Electric from $70.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. The Goldman Sachs Group cut their target price on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Citigroup decreased their price target on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a research note on Monday. Finally, Seaport Res Ptn raised shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, nVent Electric presently has an average rating of "Buy" and a consensus target price of $69.00.

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.