Easterly Investment Partners LLC Grows Stake in nVent Electric plc (NYSE:NVT)

Easterly Investment Partners LLC lifted its stake in nVent Electric plc (NYSE:NVT - Free Report) by 11.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,454 shares of the company's stock after purchasing an additional 8,884 shares during the period. Easterly Investment Partners LLC owned about 0.05% of nVent Electric worth $5,756,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in nVent Electric by 22.1% during the 3rd quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company's stock worth $527,374,000 after acquiring an additional 1,269,335 shares in the last quarter. State Street Corp raised its stake in nVent Electric by 0.9% in the third quarter. State Street Corp now owns 5,031,623 shares of the company's stock worth $353,522,000 after buying an additional 42,465 shares in the last quarter. Norges Bank purchased a new stake in nVent Electric during the fourth quarter worth $197,434,000. Geode Capital Management LLC boosted its position in nVent Electric by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company's stock valued at $194,894,000 after purchasing an additional 29,794 shares in the last quarter. Finally, William Blair Investment Management LLC grew its stake in nVent Electric by 8.8% in the fourth quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company's stock valued at $176,630,000 after purchasing an additional 210,690 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

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Analyst Ratings Changes

Several research firms have weighed in on NVT. Seaport Res Ptn raised shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. Barclays cut their target price on nVent Electric from $83.00 to $75.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 26th. KeyCorp lowered their price target on nVent Electric from $84.00 to $75.00 and set an "overweight" rating for the company in a research report on Friday. CL King raised 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. Finally, Royal Bank of Canada lifted their target price on nVent Electric from $85.00 to $86.00 and gave the stock an "outperform" rating in a 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. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $80.50.

nVent Electric Stock Performance

Shares of NYSE NVT traded down $0.80 during trading on Monday, reaching $52.11. 582,389 shares of the company traded hands, compared to its average volume of 1,808,195. nVent Electric plc has a 12-month low of $50.28 and a 12-month high of $86.57. The stock has a market cap of $8.60 billion, a P/E ratio of 26.40, a PEG ratio of 1.48 and a beta of 1.31. The firm's fifty day simple moving average is $62.19 and its 200 day simple moving average is $68.84. 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 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%. As a group, 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. Stockholders of record on Friday, April 25th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Friday, April 25th. nVent Electric's payout ratio is 40.82%.

nVent Electric Company 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.