Proficio Capital Partners LLC Takes $3.99 Million Position in nVent Electric plc (NYSE:NVT)

Proficio Capital Partners LLC acquired a new stake in shares of nVent Electric plc (NYSE:NVT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 58,481 shares of the company's stock, valued at approximately $3,986,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Franklin Resources Inc. raised its position in nVent Electric by 22.1% during 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 period. State Street Corp raised its position in nVent Electric by 0.9% during the third quarter. State Street Corp now owns 5,031,623 shares of the company's stock valued at $353,522,000 after purchasing an additional 42,465 shares during the period. Geode Capital Management LLC raised its position in nVent Electric by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company's stock valued at $194,894,000 after purchasing an additional 29,794 shares during the period. Janus Henderson Group PLC raised its holdings in shares of nVent Electric by 23.6% in the third quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company's stock worth $171,492,000 after buying an additional 466,042 shares during the period. Finally, Clean Energy Transition LLP raised its holdings in shares of nVent Electric by 56.5% in the third quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company's stock worth $158,411,000 after buying an additional 813,909 shares during the period. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

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nVent Electric Trading Up 0.4 %

NYSE:NVT traded up $0.25 during midday trading on Friday, hitting $57.11. The stock had a trading volume of 3,756,930 shares, compared to its average volume of 1,749,066. nVent Electric plc has a one year low of $51.99 and a one year high of $86.57. The company has a market capitalization of $9.42 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 1.48 and a beta of 1.31. The stock has a 50-day moving average of $63.87 and a 200 day moving average of $69.05. 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 (NYSE:NVT - Get Free Report) last announced its quarterly earnings results 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%. As a group, sell-side analysts forecast that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 annualized dividend and a yield of 1.40%. nVent Electric's dividend payout ratio (DPR) is 40.82%.

Wall Street Analyst Weigh In

NVT has been the topic of several recent analyst reports. Citigroup reduced their price target on nVent Electric from $91.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, January 13th. CL King upgraded nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price target on the stock in a report on Monday. Royal Bank of Canada increased their price target on nVent Electric from $85.00 to $86.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Finally, Barclays reduced their price target on nVent Electric from $88.00 to $83.00 and set an "overweight" rating on the stock in a report on Monday, March 3rd. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, nVent Electric presently has a consensus rating of "Buy" and an average price target of $83.33.

About nVent Electric

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.