FIL Ltd Raises Stock Position in nVent Electric plc (NYSE:NVT)

FIL Ltd boosted its stake in shares of nVent Electric plc (NYSE:NVT - Free Report) by 232.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 597,190 shares of the company's stock after acquiring an additional 417,649 shares during the quarter. FIL Ltd owned about 0.36% of nVent Electric worth $40,704,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Crews Bank & Trust bought a new position in shares of nVent Electric during the 4th quarter valued at approximately $26,000. Tsfg LLC purchased a new position in nVent Electric during the fourth quarter worth $51,000. Raleigh Capital Management Inc. increased its position in nVent Electric by 547.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 751 shares of the company's stock valued at $51,000 after acquiring an additional 635 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of nVent Electric by 26.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company's stock valued at $53,000 after acquiring an additional 162 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of nVent Electric by 243.5% in the 4th quarter. Blue Trust Inc. now owns 869 shares of the company's stock worth $61,000 after acquiring an additional 616 shares during the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NVT has been the topic of several analyst reports. Royal Bank of Canada upped 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. Barclays reduced their price target on nVent Electric from $70.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. The Goldman Sachs Group dropped their price objective on nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. CL King upgraded 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, March 17th. Finally, KeyCorp lowered 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, April 8th. Six equities research 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, the stock currently has an average rating of "Buy" and a consensus price target of $69.00.

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nVent Electric Stock Down 0.2 %

Shares of NVT traded down $0.09 during midday trading on Wednesday, reaching $50.43. 394,474 shares of the stock were exchanged, compared to its average volume of 2,350,517. The company has a market capitalization of $8.30 billion, a P/E ratio of 25.73, a PEG ratio of 1.48 and a beta of 1.21. 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 52 week low of $41.71 and a 52 week high of $86.57. The company's 50 day moving average is $57.06 and its two-hundred day moving average is $66.99.

nVent Electric (NYSE:NVT - Get Free Report) last issued 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%. On average, sell-side analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

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 issued a dividend of $0.20 per share. 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 1.59%. nVent Electric's dividend payout ratio is currently 40.82%.

nVent Electric 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.