Daiwa Securities Group Inc. Buys 7,550 Shares of nVent Electric plc (NYSE:NVT)

Daiwa Securities Group Inc. increased its stake in shares of nVent Electric plc (NYSE:NVT - Free Report) by 16.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,700 shares of the company's stock after acquiring an additional 7,550 shares during the quarter. Daiwa Securities Group Inc.'s holdings in nVent Electric were worth $3,660,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB increased its holdings in nVent Electric by 26.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company's stock valued at $53,000 after buying an additional 162 shares during the period. CIBC Asset Management Inc increased 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 valued at $339,000 after buying an additional 166 shares during the period. Calamos Advisors LLC increased its holdings in nVent Electric by 1.6% in the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company's stock valued at $782,000 after buying an additional 176 shares during the period. Larson Financial Group LLC increased its holdings in nVent Electric by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company's stock valued at $27,000 after buying an additional 181 shares during the period. Finally, Huntington National Bank increased its holdings in nVent Electric by 57.3% in the 3rd quarter. Huntington National Bank now owns 612 shares of the company's stock valued at $43,000 after buying an additional 223 shares during the period. Institutional investors own 90.05% of the company's stock.

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Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Royal Bank of Canada boosted their price target on shares of nVent Electric from $85.00 to $86.00 and gave the company an "outperform" rating in a report on Friday, February 7th. CL King upgraded shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price on the stock in a research note on Monday. Citigroup reduced their target price on shares of nVent Electric from $91.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Finally, Barclays reduced their target price on shares of nVent Electric from $88.00 to $83.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $83.33.

nVent Electric Price Performance

NYSE NVT traded up $0.04 on Monday, hitting $56.72. 1,559,160 shares of the company were exchanged, compared to its average volume of 1,735,375. The firm has a 50 day moving average of $64.98 and a two-hundred day moving average of $69.38. The company has a market cap of $9.36 billion, a P/E ratio of 28.94, a P/E/G ratio of 1.48 and a beta of 1.31. 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 plc has a 1-year low of $51.99 and a 1-year high of $86.57.

nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, hitting 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, equities analysts predict that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 annualized dividend and a yield of 1.41%. nVent Electric's dividend payout ratio (DPR) 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.