Pictet Asset Management Holding SA grew its holdings in shares of nVent Electric plc (NYSE:NVT - Free Report) by 3,186.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 711,343 shares of the company's stock after purchasing an additional 689,701 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.43% of nVent Electric worth $48,485,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the business. Franklin Resources Inc. increased its stake in 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 purchasing an additional 1,269,335 shares during the last quarter. State Street Corp increased its stake in shares of nVent Electric by 0.9% during the 3rd quarter. State Street Corp now owns 5,031,623 shares of the company's stock valued at $353,522,000 after acquiring an additional 42,465 shares during the last quarter. Norges Bank acquired a new position in shares of nVent Electric during the 4th quarter valued at about $197,434,000. Geode Capital Management LLC lifted its holdings in shares of nVent Electric by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company's stock worth $194,894,000 after acquiring an additional 29,794 shares during the period. Finally, William Blair Investment Management LLC boosted its position in shares of nVent Electric by 8.8% in the fourth quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company's stock worth $176,630,000 after acquiring an additional 210,690 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.
nVent Electric Stock Performance
Shares of NYSE:NVT traded down $6.37 on Thursday, reaching $48.56. 859,831 shares of the company's stock were exchanged, compared to its average volume of 2,259,051. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. nVent Electric plc has a fifty-two week low of $47.85 and a fifty-two week high of $86.57. The business's 50-day moving average is $60.95 and its two-hundred day moving average is $68.57. The firm has a market capitalization of $8.01 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 1.48 and a beta of 1.21.
nVent Electric (NYSE:NVT - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.59 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%. As a group, equities research analysts forecast that nVent Electric plc will post 3.04 EPS for the current year.
nVent Electric Announces Dividend
The company 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 $0.20 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.65%. nVent Electric's dividend payout ratio (DPR) is presently 40.82%.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the stock. Citigroup dropped their price target on shares of 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 target price on shares of nVent Electric from $84.00 to $75.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Royal Bank of Canada raised their price objective on nVent Electric from $85.00 to $86.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. Finally, The Goldman Sachs Group cut their price target on nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a research note on Wednesday. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $78.33.
Read Our Latest Report on NVT
nVent Electric Profile
(
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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