JPMorgan Chase & Co. Acquires 572,086 Shares of nVent Electric plc (NYSE:NVT)

JPMorgan Chase & Co. lifted its stake in shares of nVent Electric plc (NYSE:NVT - Free Report) by 113.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,075,409 shares of the company's stock after acquiring an additional 572,086 shares during the period. JPMorgan Chase & Co. owned approximately 0.65% of nVent Electric worth $73,300,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NVT. Crews Bank & Trust bought a new position in shares of nVent Electric during the fourth quarter valued at about $26,000. Tsfg LLC bought a new position in nVent Electric during the 4th quarter worth approximately $51,000. Raleigh Capital Management Inc. increased its stake in nVent Electric by 547.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 751 shares of the company's stock worth $51,000 after purchasing an additional 635 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in nVent Electric by 26.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company's stock worth $53,000 after purchasing an additional 162 shares during the period. Finally, Blue Trust Inc. lifted its position in nVent Electric by 243.5% in 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 hedge funds and other institutional investors.

nVent Electric Stock Performance

NYSE NVT traded down $1.56 on Tuesday, reaching $44.69. 2,696,471 shares of the stock were exchanged, compared to its average volume of 1,866,333. 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 one year low of $41.71 and a one year high of $86.57. The firm has a market capitalization of $7.37 billion, a PE ratio of 22.80, a PEG ratio of 1.48 and a beta of 1.21. The company's 50-day simple moving average is $58.73 and its two-hundred day simple moving average is $67.79.

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nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share 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%. Analysts expect that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Friday, April 25th. nVent Electric's dividend payout ratio (DPR) is presently 40.82%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Barclays decreased their price objective on shares of nVent Electric from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Friday. Citigroup reduced their price target on nVent Electric from $91.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Royal Bank of Canada increased their price objective on nVent Electric from $85.00 to $86.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Seaport Res Ptn upgraded nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. Finally, The Goldman Sachs Group decreased their target price on nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Six investment 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.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $75.00.

nVent Electric Company 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.