Raymond James Financial Inc. purchased a new stake in nVent Electric plc (NYSE:NVT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 195,619 shares of the company's stock, valued at approximately $13,333,000. Raymond James Financial Inc. owned about 0.12% of nVent Electric at the end of the most recent reporting period.
Several other large investors have also modified their holdings of NVT. Victory Capital Management Inc. grew its position in shares of nVent Electric by 374.4% in the third quarter. Victory Capital Management Inc. now owns 161,954 shares of the company's stock valued at $11,379,000 after purchasing an additional 127,813 shares during the last quarter. Huntington National Bank boosted its position in nVent Electric by 57.3% during the third quarter. Huntington National Bank now owns 612 shares of the company's stock worth $43,000 after acquiring an additional 223 shares during the last quarter. CIBC Asset Management Inc boosted its position in nVent Electric by 3.6% during the third quarter. CIBC Asset Management Inc now owns 4,823 shares of the company's stock worth $339,000 after acquiring an additional 166 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in nVent Electric by 18.6% during the third quarter. Thrivent Financial for Lutherans now owns 429,615 shares of the company's stock worth $30,185,000 after acquiring an additional 67,489 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its position in nVent Electric by 7.6% during the third quarter. Fifth Third Wealth Advisors LLC now owns 6,399 shares of the company's stock worth $450,000 after acquiring an additional 453 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.
nVent Electric Trading Up 0.4 %
NYSE:NVT traded up $0.25 during trading hours on Friday, reaching $57.11. 3,766,765 shares of the company were exchanged, compared to its average volume of 1,750,004. 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 firm has a market cap of $9.42 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 1.48 and a beta of 1.31. nVent Electric plc has a 52-week low of $51.99 and a 52-week high of $86.57. The stock has a 50 day simple moving average of $63.63 and a 200 day simple moving average of $69.01.
nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share 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 EPS for the current year.
nVent Electric Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Friday, April 25th. nVent Electric's dividend payout ratio is presently 40.82%.
Analyst Ratings Changes
NVT has been the topic of a number of analyst reports. Barclays decreased their target price on shares of nVent Electric from $88.00 to $83.00 and set an "overweight" rating on the stock in a research report on Monday, March 3rd. Citigroup decreased 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. Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday. Royal Bank of Canada raised their target price on shares of nVent Electric from $85.00 to $86.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Finally, CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price target on the stock in a research note on Monday, March 17th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $83.33.
Check Out Our Latest Analysis on nVent Electric
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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