Franklin Resources Inc. trimmed its stake in nVent Electric plc (NYSE:NVT - Free Report) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,898,641 shares of the company's stock after selling 121,784 shares during the quarter. Franklin Resources Inc. owned 4.19% of nVent Electric worth $470,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also made changes to their positions in NVT. Crews Bank & Trust purchased a new stake in nVent Electric in the 4th quarter worth approximately $26,000. Tsfg LLC acquired a new position in shares of nVent Electric in the fourth quarter worth $51,000. Raleigh Capital Management Inc. raised its holdings in shares of 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 acquiring an additional 635 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of 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 position in nVent Electric by 243.5% during the fourth quarter. Blue Trust Inc. now owns 869 shares of the company's stock valued at $61,000 after purchasing an additional 616 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the company. KeyCorp cut their price target on nVent Electric from $84.00 to $75.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Royal Bank of Canada raised their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Barclays decreased their target price on shares of nVent Electric from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Friday. Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. Finally, The Goldman Sachs Group decreased their price objective on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a report on Wednesday. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, nVent Electric has an average rating of "Buy" and an average price target of $77.50.
Read Our Latest Report on NVT
nVent Electric Stock Performance
Shares of nVent Electric stock traded down $3.04 on Friday, reaching $45.28. The stock had a trading volume of 5,400,240 shares, compared to its average volume of 1,850,287. 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 $59.82 and its two-hundred day moving average price is $68.30. The stock has a market cap of $7.47 billion, a P/E ratio of 23.10, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. nVent Electric plc has a fifty-two week low of $41.90 and a fifty-two week high of $86.57.
nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting 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, sell-side analysts forecast that nVent Electric plc will post 3.04 EPS for the current year.
nVent Electric Announces Dividend
The firm 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 $0.20 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.77%. nVent Electric's dividend payout ratio is 40.82%.
About nVent Electric
(
Free Report)
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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