Duff & Phelps Investment Management Co. bought a new stake in nVent Electric plc (NYSE:NVT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,499 shares of the company's stock, valued at approximately $375,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Crews Bank & Trust acquired a new position in nVent Electric in the fourth quarter valued at $26,000. Larson Financial Group LLC increased its position 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 acquiring an additional 181 shares during the period. Brooklyn Investment Group acquired a new position in nVent Electric in the 3rd quarter valued at about $44,000. Tsfg LLC purchased a new stake in nVent Electric during the 4th quarter valued at approximately $51,000. Finally, Raleigh Capital Management Inc. lifted its position in nVent Electric by 547.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 751 shares of the company's stock worth $51,000 after acquiring an additional 635 shares during the period. 90.05% of the stock is owned by hedge funds and other institutional investors.
nVent Electric Price Performance
NVT traded up $1.13 on Wednesday, hitting $54.35. 489,216 shares of the company were exchanged, compared to its average volume of 2,262,790. The business's fifty day moving average is $61.36 and its 200 day moving average is $68.66. nVent Electric plc has a fifty-two week low of $50.14 and a fifty-two week high of $86.57. 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 $8.97 billion, a P/E ratio of 27.73, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31.
nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share 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%. As a group, sell-side analysts anticipate that nVent Electric plc will post 3.04 EPS for the current year.
nVent Electric Dividend Announcement
The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.47%. nVent Electric's payout ratio is 40.82%.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on NVT shares. Seaport Res Ptn raised nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. CL King upgraded shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price for the company in a research note on Monday, March 17th. Citigroup dropped their price target 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. Barclays lowered their price objective on nVent Electric from $83.00 to $75.00 and set an "overweight" rating on the stock in a report on Wednesday, March 26th. Finally, Royal Bank of Canada boosted their target price on nVent Electric from $85.00 to $86.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Six research 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, the stock has a consensus rating of "Buy" and a consensus target price of $80.50.
Get Our Latest Report on nVent Electric
nVent Electric Profile
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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.
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