Federated Hermes Inc. Increases Position in nVent Electric plc (NYSE:NVT)

Federated Hermes Inc. increased its stake in shares of nVent Electric plc (NYSE:NVT - Free Report) by 7.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,128,028 shares of the company's stock after acquiring an additional 76,909 shares during the period. Federated Hermes Inc. owned about 0.68% of nVent Electric worth $76,886,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Crews Bank & Trust bought a new position in nVent Electric in the 4th quarter valued at about $26,000. Tsfg LLC acquired a new stake in nVent Electric during the 4th quarter valued at approximately $51,000. Raleigh Capital Management Inc. grew its stake in nVent Electric by 547.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 751 shares of the company's stock worth $51,000 after purchasing an additional 635 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in nVent Electric by 26.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company's stock worth $53,000 after acquiring an additional 162 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in nVent Electric by 243.5% in the fourth quarter. Blue Trust Inc. now owns 869 shares of the company's stock worth $61,000 after acquiring an additional 616 shares in the last quarter. 90.05% of the stock is owned by institutional investors.

nVent Electric Stock Up 0.9 %

Shares of NYSE NVT traded up $0.46 during midday trading on Friday, reaching $49.73. 2,799,535 shares of the company's stock traded hands, compared to its average volume of 1,880,114. The company has a market cap of $8.21 billion, a price-to-earnings ratio of 25.37, a P/E/G ratio of 1.48 and a beta of 1.21. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. nVent Electric plc has a one year low of $41.71 and a one year high of $86.57. The stock's 50 day simple moving average is $57.63 and its 200-day simple moving average is $67.28.

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

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders 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 1.61%. nVent Electric's dividend payout ratio (DPR) is currently 40.82%.

Analyst Ratings Changes

NVT has been the subject of a number of analyst reports. The Goldman Sachs Group cut their price target on nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. KeyCorp reduced their target price on shares of nVent Electric from $75.00 to $60.00 and set an "overweight" rating for the company in a research note on Tuesday. CL King upgraded shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective for the company in a research report on Monday, March 17th. Citigroup dropped 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 report on Monday, January 13th. Finally, Barclays dropped their target price on nVent Electric from $70.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, nVent Electric presently has a consensus rating of "Buy" and an average target price of $74.17.

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.