Sei Investments Co. Acquires 59,684 Shares of nVent Electric plc (NYSE:NVT)

Sei Investments Co. lifted its stake in shares of nVent Electric plc (NYSE:NVT - Free Report) by 53.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 170,899 shares of the company's stock after buying an additional 59,684 shares during the period. Sei Investments Co. owned about 0.10% of nVent Electric worth $11,649,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NVT. Larson Financial Group LLC raised its position in nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company's stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. Crews Bank & Trust acquired a new position in shares of nVent Electric in the fourth quarter valued at approximately $26,000. Brooklyn Investment Group bought a new position in nVent Electric in the 3rd quarter valued at approximately $44,000. Tsfg LLC acquired a new stake in nVent Electric during the 4th quarter worth approximately $51,000. Finally, Raleigh Capital Management Inc. grew its holdings in nVent Electric by 547.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 751 shares of the company's stock worth $51,000 after acquiring an additional 635 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NVT shares. Seaport Res Ptn raised shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. Royal Bank of Canada raised their target price on nVent Electric from $85.00 to $86.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. KeyCorp reduced their price target on nVent Electric from $84.00 to $75.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Citigroup lowered their price objective on nVent Electric from $91.00 to $90.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Finally, Barclays reduced their target price on nVent Electric from $83.00 to $75.00 and set an "overweight" rating on the stock in a report on Wednesday, March 26th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $78.33.

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nVent Electric Stock Performance

NVT traded down $6.54 during trading hours on Thursday, hitting $48.39. The stock had a trading volume of 3,197,433 shares, compared to its average volume of 1,829,755. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The stock has a market cap of $7.99 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. nVent Electric plc has a 1 year low of $47.85 and a 1 year high of $86.57. The company's fifty day simple moving average is $60.41 and its 200 day simple moving average is $68.43.

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 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%. Equities analysts anticipate 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. Investors of record on Friday, April 25th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Friday, April 25th. nVent Electric's dividend payout ratio (DPR) is presently 40.82%.

nVent Electric Profile

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.