Schroder Investment Management Group raised its position in nVent Electric plc (NYSE:NVT - Free Report) by 3.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 937,437 shares of the company's stock after buying an additional 30,032 shares during the period. Schroder Investment Management Group owned about 0.57% of nVent Electric worth $63,896,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in NVT. Crews Bank & Trust bought a new position in nVent Electric in the fourth quarter valued at about $26,000. Tsfg LLC bought a new position in shares of nVent Electric in the 4th quarter valued at about $51,000. Raleigh Capital Management Inc. grew its position in shares of nVent Electric by 547.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 751 shares of the company's stock worth $51,000 after buying an additional 635 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake 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 worth $53,000 after buying an additional 162 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in nVent Electric by 243.5% in the fourth quarter. Blue Trust Inc. now owns 869 shares of the company's stock valued at $61,000 after buying an additional 616 shares during the period. 90.05% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. Barclays dropped their target price 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. KeyCorp cut their target price on nVent Electric from $84.00 to $75.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. 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. Royal Bank of Canada upped their price target on nVent Electric from $85.00 to $86.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Finally, Seaport Res Ptn raised shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $77.50.
Check Out Our Latest Stock Report on NVT
nVent Electric Stock Down 6.3 %
Shares of NYSE:NVT traded down $3.04 during trading on Friday, hitting $45.28. 5,400,240 shares of the company's stock traded hands, compared to its average volume of 1,850,287. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average price of $59.82 and a 200-day moving average price of $68.30. nVent Electric plc has a 52 week low of $41.90 and a 52 week high of $86.57. The company has a market cap of $7.47 billion, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21.
nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly 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%. As a group, research analysts forecast that nVent Electric plc will post 3.04 EPS for the current fiscal year.
nVent Electric Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be paid 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 1.77%. nVent Electric's dividend payout ratio (DPR) is currently 40.82%.
nVent Electric Profile
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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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