nVent Electric plc (NYSE:NVT) Shares Sold by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE cut its stake in nVent Electric plc (NYSE:NVT - Free Report) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 250,982 shares of the company's stock after selling 7,111 shares during the quarter. Congress Wealth Management LLC DE owned about 0.15% of nVent Electric worth $17,107,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of nVent Electric during the 3rd quarter worth approximately $2,877,000. Advisors Asset Management Inc. grew its holdings in nVent Electric by 5.1% in the third quarter. Advisors Asset Management Inc. now owns 6,153 shares of the company's stock worth $432,000 after purchasing an additional 301 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in nVent Electric by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,035,463 shares of the company's stock worth $72,752,000 after purchasing an additional 3,599 shares during the last quarter. Citigroup Inc. increased its position in shares of nVent Electric by 3.3% during the third quarter. Citigroup Inc. now owns 62,044 shares of the company's stock worth $4,359,000 after purchasing an additional 1,959 shares in the last quarter. Finally, Cerity Partners LLC boosted its position in shares of nVent Electric by 145.7% in the 3rd quarter. Cerity Partners LLC now owns 45,248 shares of the company's stock worth $3,179,000 after purchasing an additional 26,832 shares in the last quarter. 90.05% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

NVT has been the subject of a number of research analyst reports. Royal Bank of Canada increased their price target on nVent Electric from $85.00 to $86.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. KeyCorp lowered their target price on shares of nVent Electric from $84.00 to $75.00 and set an "overweight" rating for the company in a research note on Friday. Barclays cut their price target on shares of nVent Electric from $83.00 to $75.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, Citigroup decreased their price target on shares of nVent Electric from $91.00 to $90.00 and set a "buy" rating for the company in a report on Monday, January 13th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $80.50.

nVent Electric Stock Performance

nVent Electric stock traded down $1.70 during midday trading on Friday, hitting $52.89. 2,427,623 shares of the company were exchanged, compared to its average volume of 1,812,918. The business has a fifty day simple moving average of $62.19 and a two-hundred day simple moving average of $68.76. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The firm has a market capitalization of $8.73 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. nVent Electric plc has a fifty-two week low of $51.99 and a fifty-two week high of $86.57.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. On average, sell-side analysts forecast that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The business also recently announced 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 of this dividend is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.51%. nVent Electric's dividend payout ratio is currently 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.