Clearbridge Investments LLC Has $53.16 Million Holdings in nVent Electric plc (NYSE:NVT)

Clearbridge Investments LLC increased its holdings in nVent Electric plc (NYSE:NVT - Free Report) by 5.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 779,967 shares of the company's stock after purchasing an additional 38,891 shares during the quarter. Clearbridge Investments LLC owned 0.47% of nVent Electric worth $53,163,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NVT. Crews Bank & Trust acquired a new stake in shares of nVent Electric during the 4th quarter valued at $26,000. Tsfg LLC acquired a new stake in shares of nVent Electric during the fourth quarter worth $51,000. Raleigh Capital Management Inc. raised its position in shares of nVent Electric by 547.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 751 shares of the company's stock worth $51,000 after purchasing an additional 635 shares during the period. MassMutual Private Wealth & Trust FSB lifted 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 valued at $53,000 after purchasing an additional 162 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of nVent Electric by 243.5% in the 4th quarter. Blue Trust Inc. now owns 869 shares of the company's stock valued at $61,000 after purchasing an additional 616 shares during the period. 90.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NVT. CL King upgraded nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective on the stock in a report on Monday, March 17th. Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. Royal Bank of Canada lifted their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. KeyCorp reduced their target price on nVent Electric from $84.00 to $75.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Finally, Citigroup lowered their price target on nVent Electric from $91.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $77.50.

Remove Ads

nVent Electric Stock Down 6.3 %

Shares of NYSE:NVT traded down $3.04 during trading on Friday, reaching $45.28. 5,400,240 shares of the company traded hands, compared to its average volume of 1,850,287. The firm has a fifty day simple moving average of $59.82 and a 200 day simple moving average of $68.30. 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 plc has a 1-year low of $41.90 and a 1-year high of $86.57. The firm has a market cap of $7.47 billion, a P/E ratio of 23.10, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21.

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 (EPS) for the quarter, meeting analysts' consensus estimates of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. Analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be paid a $0.20 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.77%. nVent Electric's payout ratio is 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.