Invesco Ltd. Acquires 224,657 Shares of nVent Electric plc (NYSE:NVT)

Invesco Ltd. boosted its position in nVent Electric plc (NYSE:NVT - Free Report) by 15.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,723,868 shares of the company's stock after buying an additional 224,657 shares during the quarter. Invesco Ltd. owned approximately 1.05% of nVent Electric worth $117,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in NVT. Crews Bank & Trust bought a new position in nVent Electric during the fourth quarter worth about $26,000. Tsfg LLC purchased a new position in nVent Electric in the 4th quarter valued at approximately $51,000. Raleigh Capital Management Inc. lifted its position 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 grew its position 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 purchasing an additional 162 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of nVent Electric by 243.5% during the 4th 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 period. Hedge funds and other institutional investors own 90.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NVT. Barclays reduced their target price on nVent Electric from $70.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. KeyCorp decreased their target price on shares of nVent Electric from $75.00 to $60.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Citigroup cut their price target on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a report on Monday. Seaport Res Ptn raised shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. Finally, CL King raised shares of 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. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $69.00.

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nVent Electric Trading Up 1.2 %

Shares of NVT stock traded up $0.60 on Tuesday, hitting $50.57. 1,662,776 shares of the company's stock traded hands, compared to its average volume of 1,886,023. 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 stock has a market capitalization of $8.33 billion, a price-to-earnings ratio of 25.80, a P/E/G ratio of 1.48 and a beta of 1.21. The company's fifty day simple moving average is $57.06 and its 200 day simple moving average is $66.99. 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 released its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, meeting analysts' consensus estimates of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. Equities analysts forecast that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Friday, April 25th. nVent Electric's payout ratio is 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.