Geode Capital Management LLC lowered its position in nVent Electric plc (NYSE:NVT - Free Report) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,760,114 shares of the company's stock after selling 13,054 shares during the period. Geode Capital Management LLC owned approximately 1.67% of nVent Electric worth $188,189,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of NVT. Crews Bank & Trust acquired a new position in shares of nVent Electric in the fourth quarter worth about $26,000. Tsfg LLC acquired a new position in nVent Electric in the 4th quarter worth about $51,000. Raleigh Capital Management Inc. lifted its position in shares of nVent Electric by 547.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 751 shares of the company's stock valued at $51,000 after buying an additional 635 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in nVent Electric by 26.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company's stock valued at $53,000 after purchasing an additional 162 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in nVent Electric by 243.5% in the 4th quarter. Blue Trust Inc. now owns 869 shares of the company's stock valued at $61,000 after buying an additional 616 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.
nVent Electric Stock Up 0.9 %
Shares of nVent Electric stock traded up $0.46 during trading hours on Friday, reaching $49.73. 2,799,535 shares of the company were exchanged, compared to its average volume of 1,880,114. 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 firm has a market cap of $8.21 billion, a PE ratio of 25.37, a PEG ratio of 1.48 and a beta of 1.21. The stock's fifty day moving average is $57.63 and its 200 day moving average is $67.28. nVent Electric plc has a 1 year low of $41.71 and a 1 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 (EPS) for the quarter, hitting analysts' consensus estimates of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. As a group, equities research analysts forecast that nVent Electric plc will post 3.04 earnings per share for the current year.
nVent Electric Announces Dividend
The company also recently disclosed 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. This represents a $0.80 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric's payout ratio is 40.82%.
Wall Street Analysts Forecast Growth
NVT has been the topic of several research reports. Seaport Res Ptn upgraded nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. The Goldman Sachs Group lowered their target price on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Citigroup cut their price objective on shares of nVent Electric from $91.00 to $90.00 and set a "buy" rating for the company in a report on Monday, January 13th. 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. Finally, Royal Bank of Canada boosted their price objective 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. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $74.17.
Read Our Latest Analysis on NVT
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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