New Age Alpha Advisors LLC Purchases New Holdings in nVent Electric plc (NYSE:NVT)

New Age Alpha Advisors LLC bought a new stake 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 (SEC). The institutional investor bought 35,805 shares of the company's stock, valued at approximately $2,440,000.

Several other hedge funds have also made changes to their positions in the stock. Nordea Investment Management AB increased its position in nVent Electric by 16.9% in the fourth quarter. Nordea Investment Management AB now owns 93,172 shares of the company's stock worth $6,378,000 after buying an additional 13,483 shares during the period. Geode Capital Management LLC increased its holdings in shares of nVent Electric by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company's stock worth $194,894,000 after acquiring an additional 29,794 shares during the period. Harbor Capital Advisors Inc. bought a new stake in nVent Electric in the 4th quarter valued at about $1,520,000. TT International Asset Management LTD boosted its stake in nVent Electric by 20.4% during the 4th quarter. TT International Asset Management LTD now owns 108,395 shares of the company's stock valued at $7,388,000 after purchasing an additional 18,376 shares during the period. Finally, LVM Capital Management Ltd. MI grew its position in nVent Electric by 8.1% in the 4th quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company's stock worth $10,307,000 after purchasing an additional 11,349 shares during the last quarter. Institutional investors own 90.05% of the company's stock.

nVent Electric Price Performance

nVent Electric stock traded down $7.01 during midday trading on Thursday, hitting $47.92. The company's stock had a trading volume of 709,870 shares, compared to its average volume of 1,816,670. nVent Electric plc has a 12 month low of $47.87 and a 12 month high of $86.57. 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 stock's 50-day moving average price is $60.95 and its 200-day moving average price is $68.57. The company has a market capitalization of $7.91 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21.

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nVent Electric (NYSE:NVT - Get Free Report) last issued its earnings results 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 net margin of 10.09% and a return on equity of 14.52%. Analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Friday, April 25th. nVent Electric's dividend payout ratio is 40.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NVT shares. Royal Bank of Canada lifted their price target on nVent Electric from $85.00 to $86.00 and gave the company an "outperform" rating in a report on Friday, February 7th. KeyCorp reduced their price target on nVent Electric from $84.00 to $75.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. CL King raised nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price target for the company in a research note on Monday, March 17th. Citigroup cut their price objective on shares of nVent Electric from $91.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Finally, Barclays decreased their target price on shares of nVent Electric from $83.00 to $75.00 and set an "overweight" rating for the company in a research report on Wednesday, March 26th. Six investment 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 an average rating of "Buy" and an average target price of $78.33.

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.