Prudential Financial Inc. cut its position in nVent Electric plc (NYSE:NVT - Free Report) by 30.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 98,039 shares of the company's stock after selling 43,332 shares during the period. Prudential Financial Inc. owned approximately 0.06% of nVent Electric worth $6,682,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Crews Bank & Trust purchased a new position in nVent Electric during the 4th quarter worth approximately $26,000. Larson Financial Group LLC increased its stake in shares of nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company's stock worth $27,000 after acquiring an additional 181 shares during the period. Tsfg LLC purchased a new position in shares of nVent Electric during the fourth quarter worth $51,000. Raleigh Capital Management Inc. lifted its position in nVent Electric by 547.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 751 shares of the company's stock valued at $51,000 after purchasing an additional 635 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in nVent Electric by 26.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company's stock valued at $53,000 after purchasing an additional 162 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.
nVent Electric Price Performance
NYSE NVT traded down $3.04 on Friday, hitting $45.28. The company had a trading volume of 5,400,240 shares, compared to its average volume of 1,846,758. 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 company's fifty day moving average price is $59.82 and its 200-day moving average price is $68.29. The company has a market capitalization of $7.47 billion, a PE ratio of 23.10, a PEG ratio of 1.48 and a beta of 1.21. nVent Electric plc has a 12-month low of $41.92 and a 12-month high of $86.57.
nVent Electric (NYSE:NVT - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.59 EPS 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%. As a group, analysts predict that nVent Electric plc will post 3.04 earnings per share for the current 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 given a $0.20 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.77%. nVent Electric's dividend payout ratio (DPR) is presently 40.82%.
Analyst Ratings Changes
A number of analysts have recently commented on the company. The Goldman Sachs Group lowered their target price on nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a research note on Wednesday. Royal Bank of Canada upped their price objective on nVent Electric from $85.00 to $86.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Citigroup cut their target price on shares of nVent Electric from $91.00 to $90.00 and set a "buy" rating for the company in a report on Monday, January 13th. Barclays lowered their price target on shares of nVent Electric from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Friday. Finally, KeyCorp dropped their price target on shares of nVent Electric from $84.00 to $75.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, nVent Electric presently has a consensus rating of "Buy" and a consensus price target of $77.50.
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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