First Trust Advisors LP Boosts Holdings in nVent Electric plc (NYSE:NVT)

First Trust Advisors LP raised its stake in shares of nVent Electric plc (NYSE:NVT - Free Report) by 40.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 996,714 shares of the company's stock after buying an additional 286,861 shares during the period. First Trust Advisors LP owned about 0.60% of nVent Electric worth $67,936,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Champlain Investment Partners LLC acquired a new stake in nVent Electric during the fourth quarter valued at $86,738,000. Farringdon Capital Ltd. acquired a new stake in shares of nVent Electric during the 4th quarter valued at about $212,000. NewEdge Advisors LLC increased its stake in shares of nVent Electric by 1,010.8% in the 4th quarter. NewEdge Advisors LLC now owns 23,505 shares of the company's stock valued at $1,602,000 after purchasing an additional 21,389 shares in the last quarter. Seeds Investor LLC raised its holdings in nVent Electric by 9.3% in the 4th quarter. Seeds Investor LLC now owns 5,058 shares of the company's stock worth $345,000 after purchasing an additional 430 shares during the period. Finally, Townsquare Capital LLC raised its holdings in nVent Electric by 3.8% in the 4th quarter. Townsquare Capital LLC now owns 76,371 shares of the company's stock worth $5,206,000 after purchasing an additional 2,814 shares during the period. Institutional investors and hedge funds own 90.05% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. The Goldman Sachs Group cut their price target on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Royal Bank of Canada raised their price target on shares of nVent Electric from $85.00 to $86.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Barclays cut their price objective on nVent Electric from $70.00 to $65.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Seaport Res Ptn upgraded nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. Finally, KeyCorp lowered their price target on nVent Electric from $75.00 to $60.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, nVent Electric has an average rating of "Buy" and a consensus target price of $69.00.

nVent Electric Stock Performance

Shares of nVent Electric stock opened at $50.23 on Wednesday. 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 business's 50 day moving average price is $55.25 and its 200 day moving average price is $66.32. The company has a market cap of $8.27 billion, a price-to-earnings ratio of 25.63, a PEG ratio of 1.48 and a beta of 1.21. nVent Electric plc has a one year low of $41.71 and a one year high of $86.57.

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

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.59%. nVent Electric's dividend payout ratio is currently 40.82%.

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.

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