nVent Electric plc (NYSE:NVT) Position Raised by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. increased its holdings in shares of nVent Electric plc (NYSE:NVT - Free Report) by 115.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,450 shares of the company's stock after purchasing an additional 17,362 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in nVent Electric were worth $2,212,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Avalon Trust Co acquired a new stake in shares of nVent Electric in the fourth quarter worth $9,124,000. Hilton Capital Management LLC boosted its position in nVent Electric by 4.5% during the 4th quarter. Hilton Capital Management LLC now owns 34,596 shares of the company's stock worth $2,358,000 after purchasing an additional 1,502 shares during the period. Swiss National Bank increased its holdings in nVent Electric by 0.9% in the 4th quarter. Swiss National Bank now owns 326,887 shares of the company's stock valued at $22,281,000 after purchasing an additional 2,900 shares in the last quarter. Avantax Advisory Services Inc. raised its position in nVent Electric by 7.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 7,640 shares of the company's stock valued at $521,000 after purchasing an additional 530 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of nVent Electric by 27.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,155 shares of the company's stock worth $283,000 after purchasing an additional 892 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

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nVent Electric Stock Down 0.3 %

nVent Electric stock traded down $0.18 during midday trading on Tuesday, hitting $58.41. The stock had a trading volume of 1,664,553 shares, compared to its average volume of 1,748,715. The stock has a market cap of $9.64 billion, a P/E ratio of 29.80, a P/E/G ratio of 1.48 and a beta of 1.31. The business has a fifty day moving average price of $63.43 and a 200 day moving average price of $69.03. 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 12 month low of $51.99 and a 12 month high of $86.57.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings data 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 return on equity of 14.52% and a net margin of 10.09%. Research analysts predict that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a yield of 1.37%. nVent Electric's payout ratio is currently 40.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NVT shares. CL King upgraded 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. Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday. Royal Bank of Canada boosted their target price on shares of nVent Electric from $85.00 to $86.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Barclays lowered their price target on shares of nVent Electric from $88.00 to $83.00 and set an "overweight" rating for the company in a report on Monday, March 3rd. Finally, Citigroup cut their price objective on shares of nVent Electric from $91.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $83.33.

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.