LPL Financial LLC increased its stake in nVent Electric plc (NYSE:NVT - Free Report) by 12.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 140,043 shares of the company's stock after purchasing an additional 15,685 shares during the quarter. LPL Financial LLC owned about 0.08% of nVent Electric worth $9,545,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Franklin Resources Inc. increased its holdings in shares of nVent Electric by 22.1% in the third 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. Impax Asset Management Group plc lifted 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 purchasing an additional 624,703 shares during the last quarter. Artemis Investment Management LLP boosted its position in shares of nVent Electric by 235.9% in 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 period. Copeland Capital Management LLC purchased a new position in nVent Electric in the 4th quarter worth about $26,889,000. Finally, Bank of New York Mellon Corp raised its holdings in nVent Electric by 22.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,718,368 shares of the company's stock worth $117,124,000 after buying an additional 312,982 shares during the period. Institutional investors own 90.05% of the company's stock.
nVent Electric Stock Performance
nVent Electric stock traded up $6.76 on Wednesday, hitting $51.96. The company's stock had a trading volume of 3,262,216 shares, compared to its average volume of 1,870,650. 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 fifty day moving average price of $58.18 and a 200-day moving average price of $67.55. The firm has a market cap of $8.57 billion, a P/E ratio of 26.51, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. nVent Electric plc has a one year low of $41.71 and a one year 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 earnings per share (EPS) for the quarter, meeting 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, equities analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current year.
nVent Electric Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be issued 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 1.54%. nVent Electric's payout ratio is 40.82%.
Analysts Set New Price Targets
NVT has been the subject of several research analyst reports. Barclays reduced their price target on shares of nVent Electric from $75.00 to $70.00 and set an "overweight" rating for the company in a research report on Friday, April 4th. Citigroup decreased their target price on nVent Electric from $91.00 to $90.00 and set a "buy" rating for the company in a research report on Monday, January 13th. KeyCorp dropped their price target on nVent Electric from $75.00 to $60.00 and set an "overweight" rating on the stock in a research report on Tuesday. Seaport Res Ptn raised nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. Finally, Royal Bank of Canada increased their price target on shares of nVent Electric from $85.00 to $86.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, nVent Electric has an average rating of "Buy" and an average target price of $75.00.
View Our Latest Report on nVent Electric
About nVent Electric
(
Free Report)
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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