Sciencast Management LP bought a new position in shares of nVent Electric plc (NYSE:NVT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 40,249 shares of the company's stock, valued at approximately $2,743,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Swedbank AB acquired a new position in nVent Electric in the 3rd quarter valued at $110,663,000. Franklin Resources Inc. boosted its position in shares of 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 acquiring an additional 1,269,335 shares during the period. Clean Energy Transition LLP grew its stake 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 valued at $158,411,000 after acquiring an additional 813,909 shares in the last quarter. Impax Asset Management Group plc increased its position in nVent Electric by 2,764.1% during the fourth quarter. Impax Asset Management Group plc now owns 647,304 shares of the company's stock worth $43,626,000 after acquiring an additional 624,703 shares during the period. Finally, Artemis Investment Management LLP raised its stake in nVent Electric by 235.9% in the 4th quarter. Artemis Investment Management LLP now owns 763,075 shares of the company's stock worth $52,011,000 after purchasing an additional 535,881 shares in the last quarter. Institutional investors own 90.05% of the company's stock.
nVent Electric Price Performance
Shares of NVT stock traded down $2.58 on Wednesday, hitting $55.87. 2,563,037 shares of the company's stock were exchanged, compared to its average volume of 1,754,303. The company has a 50 day moving average of $63.20 and a 200 day moving average of $69.01. The stock has a market cap of $9.22 billion, a P/E ratio of 28.50, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. nVent Electric plc has a 12 month low of $51.99 and a 12 month high of $86.57.
nVent Electric (NYSE:NVT - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, hitting the consensus estimate 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 predict that nVent Electric plc will post 3.04 EPS for the current year.
nVent Electric Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be issued 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 1.43%. nVent Electric's dividend payout ratio (DPR) is presently 40.82%.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on NVT shares. Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. 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 research report on Friday, February 7th. Citigroup dropped their price objective on nVent Electric from $91.00 to $90.00 and set a "buy" rating for the company 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 target price for the company in a research report on Monday, March 17th. Finally, Barclays decreased their price target on nVent Electric from $83.00 to $75.00 and set an "overweight" rating on the stock in a research report on Wednesday. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $82.00.
Read Our Latest Report on NVT
nVent Electric Company 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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