Thematics Asset Management Has $48.30 Million Stake in nVent Electric plc (NYSE:NVT)

Thematics Asset Management cut its holdings in shares of nVent Electric plc (NYSE:NVT - Free Report) by 18.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 708,674 shares of the company's stock after selling 156,034 shares during the period. nVent Electric comprises approximately 2.1% of Thematics Asset Management's investment portfolio, making the stock its 5th biggest position. Thematics Asset Management owned 0.43% of nVent Electric worth $48,303,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quadrant Capital Group LLC boosted its holdings in shares of nVent Electric by 4.1% during the 4th quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company's stock worth $259,000 after buying an additional 150 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of nVent Electric by 26.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company's stock valued at $53,000 after acquiring an additional 162 shares during the period. Calamos Advisors LLC lifted its position in shares of nVent Electric by 1.6% during the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company's stock valued at $782,000 after acquiring an additional 176 shares during the period. Keybank National Association OH boosted its stake in nVent Electric by 2.5% during the fourth quarter. Keybank National Association OH now owns 9,509 shares of the company's stock worth $648,000 after acquiring an additional 229 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in nVent Electric by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 5,078 shares of the company's stock worth $346,000 after purchasing an additional 255 shares during the period. Institutional investors own 90.05% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Citigroup dropped their price objective on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a report on Monday, April 14th. KeyCorp cut their price target on nVent Electric from $75.00 to $60.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Seaport Res Ptn upgraded nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. CL King raised nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price on the stock in a research report on Monday, March 17th. Finally, Royal Bank of Canada lifted their price target on shares of nVent Electric from $85.00 to $86.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $69.00.

nVent Electric Stock Up 1.0 %

Shares of NYSE:NVT traded up $0.56 during mid-day trading on Friday, hitting $55.01. 953,475 shares of the company traded hands, compared to its average volume of 1,891,244. The stock has a 50-day moving average price of $54.65 and a two-hundred day moving average price of $66.10. nVent Electric plc has a 12-month low of $41.71 and a 12-month high of $86.57. The stock has a market cap of $9.06 billion, a P/E ratio of 28.08, a P/E/G ratio of 1.48 and a beta of 1.21. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) 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%. On average, equities research analysts forecast that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be paid a $0.20 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.80 annualized dividend and a yield of 1.45%. nVent Electric's dividend payout ratio (DPR) is 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.