Corient Private Wealth LLC Buys 47,761 Shares of nVent Electric plc (NYSE:NVT)

Corient Private Wealth LLC raised its position in shares of nVent Electric plc (NYSE:NVT - Free Report) by 198.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,873 shares of the company's stock after purchasing an additional 47,761 shares during the quarter. Corient Private Wealth LLC's holdings in nVent Electric were worth $4,899,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of NVT. CIBC Asset Management Inc boosted its holdings in nVent Electric by 3.6% in the 3rd quarter. CIBC Asset Management Inc now owns 4,823 shares of the company's stock worth $339,000 after buying an additional 166 shares during the period. Banque Cantonale Vaudoise boosted its stake in shares of nVent Electric by 152.3% in the third quarter. Banque Cantonale Vaudoise now owns 1,620 shares of the company's stock worth $114,000 after acquiring an additional 978 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of nVent Electric in the third quarter worth about $2,877,000. Advisors Asset Management Inc. grew its position in shares of nVent Electric by 5.1% during 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 in the last quarter. Finally, Intech Investment Management LLC raised its stake in nVent Electric by 137.1% during the 3rd quarter. Intech Investment Management LLC now owns 51,904 shares of the company's stock valued at $3,647,000 after purchasing an additional 30,017 shares during the period. 90.05% of the stock is currently owned by institutional investors.

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nVent Electric Trading Down 4.4 %

Shares of NYSE NVT traded down $2.58 during trading hours on Wednesday, hitting $55.87. 2,563,037 shares of the company traded hands, compared to its average volume of 1,754,303. The stock has a market capitalization 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's 50 day moving average price is $63.20 and its 200 day moving average price is $69.01. nVent Electric plc has a 12 month low of $51.99 and a 12 month high of $86.57. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share 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 research analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm 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 dividend of $0.20 per share. The ex-dividend date is Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.43%. nVent Electric's dividend payout ratio (DPR) is presently 40.82%.

Analyst Ratings Changes

A number of brokerages have issued reports on NVT. Barclays cut their price objective on shares of nVent Electric from $83.00 to $75.00 and set an "overweight" rating for the company in a report on Wednesday. Citigroup cut their target price on shares of nVent Electric from $91.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, January 13th. Royal Bank of Canada boosted their price target on shares of nVent Electric from $85.00 to $86.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. CL King raised nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price on the stock in a report on Monday, March 17th. Finally, Seaport Res Ptn upgraded nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $82.00.

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.