Fiduciary Management Inc. WI Cuts Stake in nVent Electric plc (NYSE:NVT)

Fiduciary Management Inc. WI lowered its stake in nVent Electric plc (NYSE:NVT - Free Report) by 0.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,534,773 shares of the company's stock after selling 6,659 shares during the period. Fiduciary Management Inc. WI owned about 0.93% of nVent Electric worth $104,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Crews Bank & Trust purchased a new position in nVent Electric in the fourth quarter worth approximately $26,000. Tsfg LLC acquired a new stake in shares of nVent Electric in the 4th quarter valued at $51,000. Raleigh Capital Management Inc. lifted 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 purchasing an additional 635 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew 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 purchasing an additional 162 shares in the last quarter. Finally, Blue Trust Inc. increased 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 last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. CL King raised nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective for the company in a research report on Monday, March 17th. Citigroup lowered their price target on nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a report on Monday, April 14th. Royal Bank of Canada raised their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. KeyCorp lowered their target price on shares of nVent Electric from $75.00 to $60.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group dropped their target price on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $69.00.

nVent Electric Stock Performance

Shares of NVT traded up $2.38 during mid-day trading on Thursday, reaching $54.63. 778,048 shares of the company's stock were exchanged, compared to its average volume of 2,329,657. The business's fifty day simple moving average is $54.93 and its 200-day simple moving average is $66.22. The stock has a market capitalization of $8.99 billion, a PE ratio of 27.90, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. nVent Electric plc has a 52-week low of $41.71 and a 52-week high of $86.57. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.59 EPS 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, equities research analysts expect that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders 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 yield of 1.46%. nVent Electric's payout ratio is 40.82%.

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.