6,780 Shares in nVent Electric plc (NYSE:NVT) Bought by NEOS Investment Management LLC

NEOS Investment Management LLC bought a new stake in shares of nVent Electric plc (NYSE:NVT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,780 shares of the company's stock, valued at approximately $462,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NVT. Franklin Resources Inc. increased its position in nVent Electric by 22.1% during the 3rd quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company's stock valued at $527,374,000 after buying an additional 1,269,335 shares in the last quarter. Clean Energy Transition LLP grew its stake in shares of nVent Electric by 56.5% in the third quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company's stock worth $158,411,000 after acquiring an additional 813,909 shares during the last quarter. Impax Asset Management Group plc increased its holdings in shares of nVent Electric by 2,764.1% during the fourth quarter. Impax Asset Management Group plc now owns 647,304 shares of the company's stock valued at $43,626,000 after acquiring an additional 624,703 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in nVent Electric by 113.7% in the 4th quarter. JPMorgan Chase & Co. now owns 1,075,409 shares of the company's stock worth $73,300,000 after purchasing an additional 572,086 shares in the last quarter. Finally, Artemis Investment Management LLP grew its position in nVent Electric by 235.9% during the 4th quarter. Artemis Investment Management LLP now owns 763,075 shares of the company's stock valued at $52,011,000 after purchasing an additional 535,881 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

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nVent Electric Stock Performance

NYSE:NVT traded down $3.04 during trading hours on Friday, reaching $45.28. The company had a trading volume of 5,400,240 shares, compared to its average volume of 1,846,758. The firm's 50 day moving average price is $59.82 and its 200-day moving average price is $68.29. The firm has a market cap of $7.47 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 1.48 and a beta of 1.21. 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 52 week low of $41.92 and a 52 week high of $86.57.

nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.59 EPS for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. On average, analysts forecast that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders 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 1.77%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric's dividend payout ratio (DPR) is presently 40.82%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NVT shares. CL King raised shares of 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. Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. Royal Bank of Canada increased their target price on nVent Electric from $85.00 to $86.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. KeyCorp decreased their price target on nVent Electric from $84.00 to $75.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Finally, Citigroup dropped their price objective 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 research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $77.50.

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.