MetLife Investment Management LLC Buys 7,027 Shares of nVent Electric plc (NYSE:NVT)

MetLife Investment Management LLC boosted its position in nVent Electric plc (NYSE:NVT - Free Report) by 8.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,915 shares of the company's stock after buying an additional 7,027 shares during the period. MetLife Investment Management LLC owned approximately 0.06% of nVent Electric worth $6,333,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Crews Bank & Trust acquired a new position in shares of nVent Electric during the fourth quarter worth approximately $26,000. Tsfg LLC acquired a new position in nVent Electric during the fourth quarter worth $51,000. Raleigh Capital Management Inc. lifted its stake in shares of nVent Electric by 547.4% in the fourth 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 grew its holdings in shares of 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 buying an additional 162 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of nVent Electric by 243.5% during the fourth quarter. Blue Trust Inc. now owns 869 shares of the company's stock worth $61,000 after acquiring an additional 616 shares in the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NVT has been the topic of several recent research reports. Royal Bank of Canada raised their price target on shares of nVent Electric from $85.00 to $86.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. KeyCorp cut their target price on nVent Electric from $75.00 to $60.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Barclays lowered their price target on nVent Electric from $70.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Citigroup cut their price target on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, 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 note on Monday, March 17th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $69.00.

nVent Electric Price Performance

NVT opened at $50.23 on Wednesday. nVent Electric plc has a fifty-two week low of $41.71 and a fifty-two week high of $86.57. The firm has a 50-day moving average of $55.25 and a 200 day moving average of $66.32. 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 $8.27 billion, a P/E ratio of 25.63, a PEG ratio of 1.48 and a beta of 1.21.

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 net margin of 10.09% and a return on equity of 14.52%. On average, research analysts expect that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The company also recently declared 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. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.59%. nVent Electric's dividend payout ratio is presently 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.

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