National Bank of Canada FI lessened its holdings in shares of nVent Electric plc (NYSE:NVT - Free Report) by 92.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,239 shares of the company's stock after selling 233,450 shares during the quarter. National Bank of Canada FI's holdings in nVent Electric were worth $1,243,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of NVT. O Shaughnessy Asset Management LLC lifted its holdings in shares of nVent Electric by 11.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,273 shares of the company's stock valued at $223,000 after purchasing an additional 341 shares in the last quarter. Clearbridge Investments LLC raised its position in nVent Electric by 5.2% in the 4th quarter. Clearbridge Investments LLC now owns 779,967 shares of the company's stock valued at $53,163,000 after buying an additional 38,891 shares during the last quarter. Schroder Investment Management Group lifted its stake in nVent Electric by 3.3% during the 4th quarter. Schroder Investment Management Group now owns 937,437 shares of the company's stock valued at $63,896,000 after acquiring an additional 30,032 shares in the last quarter. Intrust Bank NA lifted its stake in nVent Electric by 19.2% during the 4th quarter. Intrust Bank NA now owns 4,719 shares of the company's stock valued at $322,000 after acquiring an additional 760 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in nVent Electric by 3,186.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 711,343 shares of the company's stock worth $48,485,000 after acquiring an additional 689,701 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on NVT. Royal Bank of Canada raised their price target on shares of nVent Electric from $85.00 to $86.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Citigroup dropped their target price on shares of nVent Electric from $91.00 to $90.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Barclays decreased their price target on nVent Electric from $70.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday. The Goldman Sachs Group cut their price objective on nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Finally, Seaport Res Ptn raised nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. Six 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, the stock presently has a consensus rating of "Buy" and an average target price of $74.17.
Read Our Latest Stock Analysis on NVT
nVent Electric Stock Performance
Shares of NVT traded up $0.53 during mid-day trading on Monday, hitting $50.39. The stock had a trading volume of 200,088 shares, compared to its average volume of 1,877,983. 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. The business has a fifty day moving average price of $57.63 and a 200-day moving average price of $67.25. The firm has a market cap of $8.30 billion, a P/E ratio of 25.71, a PEG ratio of 1.48 and a beta of 1.21.
nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. On average, equities research analysts expect that nVent Electric plc will post 3.04 EPS for the current year.
nVent Electric Dividend Announcement
The business also recently announced 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 annualized dividend and a dividend yield of 1.59%. nVent Electric's dividend payout ratio 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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