KLP Kapitalforvaltning AS Invests $2.28 Million in nVent Electric plc (NYSE:NVT)

KLP Kapitalforvaltning AS acquired a new position in shares of nVent Electric plc (NYSE:NVT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 33,500 shares of the company's stock, valued at approximately $2,283,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted 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 acquiring an additional 162 shares during the period. Calamos Advisors LLC lifted its position in shares of nVent Electric by 1.6% during the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company's stock worth $782,000 after purchasing an additional 176 shares during the last quarter. Larson Financial Group LLC boosted its stake in nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company's stock valued at $27,000 after purchasing an additional 181 shares during the period. Keybank National Association OH grew its holdings in nVent Electric by 2.5% in the 4th quarter. Keybank National Association OH now owns 9,509 shares of the company's stock valued at $648,000 after buying an additional 229 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in nVent Electric by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 5,078 shares of the company's stock worth $346,000 after buying an additional 255 shares during the period. 90.05% of the stock is currently owned by institutional investors and hedge funds.

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nVent Electric Price Performance

Shares of NYSE:NVT traded up $0.83 during midday trading on Tuesday, reaching $53.25. 1,887,517 shares of the company's stock were exchanged, compared to its average volume of 1,817,061. 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 company's 50 day simple moving average is $61.36 and its two-hundred day simple moving average is $68.66. nVent Electric plc has a 12 month low of $50.14 and a 12 month high of $86.57. The firm has a market capitalization of $8.79 billion, a PE ratio of 27.17, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, hitting analysts' consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. Equities research analysts expect that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 annualized dividend and a yield of 1.50%. nVent Electric's dividend payout ratio is currently 40.82%.

Wall Street Analyst Weigh In

NVT has been the subject of several research reports. CL King raised 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. KeyCorp reduced their price target on shares of nVent Electric from $84.00 to $75.00 and set an "overweight" rating for the company in a report on Friday. Barclays dropped their price objective on shares of nVent Electric from $83.00 to $75.00 and set an "overweight" rating on the stock in a report on Wednesday, March 26th. Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. Finally, Citigroup decreased their target price on nVent Electric from $91.00 to $90.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $80.50.

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.