Magnetar Financial LLC lowered its holdings in nVent Electric plc (NYSE:NVT - Free Report) by 45.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,284 shares of the company's stock after selling 36,515 shares during the quarter. Magnetar Financial LLC's holdings in nVent Electric were worth $3,018,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of NVT. Victory Capital Management Inc. lifted its holdings in shares of nVent Electric by 374.4% in the 3rd quarter. Victory Capital Management Inc. now owns 161,954 shares of the company's stock worth $11,379,000 after acquiring an additional 127,813 shares during the last quarter. CIBC Asset Management Inc lifted its stake in nVent Electric by 3.6% during the third quarter. CIBC Asset Management Inc now owns 4,823 shares of the company's stock worth $339,000 after purchasing an additional 166 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its position in shares of nVent Electric by 7.6% during the third quarter. Fifth Third Wealth Advisors LLC now owns 6,399 shares of the company's stock worth $450,000 after buying an additional 453 shares during the period. Banque Cantonale Vaudoise boosted its position in shares of nVent Electric by 152.3% during the third quarter. Banque Cantonale Vaudoise now owns 1,620 shares of the company's stock worth $114,000 after buying an additional 978 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of nVent Electric in the third quarter valued at $2,877,000. Institutional investors and hedge funds own 90.05% of the company's stock.
nVent Electric Stock Down 0.3 %
NYSE NVT traded down $0.18 on Tuesday, hitting $58.41. 1,676,877 shares of the stock were exchanged, compared to its average volume of 1,748,715. nVent Electric plc has a fifty-two week low of $51.99 and a fifty-two week high of $86.57. The company has a 50-day moving average price of $63.43 and a 200-day moving average price of $69.03. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The company has a market cap of $9.64 billion, a PE ratio of 29.80, a PEG ratio of 1.48 and a beta of 1.31.
nVent Electric (NYSE:NVT - Get Free Report) last issued its 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%. Sell-side analysts anticipate that nVent Electric plc will post 3.04 EPS for the current fiscal year.
nVent Electric Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric's dividend payout ratio (DPR) is presently 40.82%.
Wall Street Analysts Forecast Growth
NVT has been the subject of a number of research analyst reports. CL King upgraded nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price for the company in a report on Monday, March 17th. Barclays dropped their price objective on shares of nVent Electric from $88.00 to $83.00 and set an "overweight" rating for the company in a report on Monday, March 3rd. Royal Bank of Canada increased their target price on shares of nVent Electric from $85.00 to $86.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Citigroup decreased their price target on shares of nVent Electric from $91.00 to $90.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Finally, Seaport Res Ptn raised nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $83.33.
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nVent Electric Company Profile
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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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