Thrivent Financial for Lutherans Sells 97,201 Shares of nVent Electric plc (NYSE:NVT)

Thrivent Financial for Lutherans decreased its stake in nVent Electric plc (NYSE:NVT - Free Report) by 22.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 332,414 shares of the company's stock after selling 97,201 shares during the period. Thrivent Financial for Lutherans owned about 0.20% of nVent Electric worth $22,657,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Crews Bank & Trust bought a new position in shares of nVent Electric in the 4th quarter valued at $26,000. 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. Brooklyn Investment Group acquired a new stake in shares of nVent Electric during the third quarter valued at about $44,000. Tsfg LLC acquired a new stake in shares of nVent Electric during the fourth quarter valued at about $51,000. Finally, Raleigh Capital Management Inc. grew its holdings in shares of nVent Electric by 547.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 751 shares of the company's stock worth $51,000 after purchasing an additional 635 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

nVent Electric Stock Down 0.3 %

Shares of NYSE NVT traded down $0.18 during mid-day trading on Tuesday, reaching $58.41. 1,664,553 shares of the company's stock traded hands, compared to its average volume of 1,748,715. 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 1-year low of $51.99 and a 1-year high of $86.57. The stock has a market cap of $9.64 billion, a P/E ratio of 29.80, a PEG ratio of 1.48 and a beta of 1.31. The business has a 50-day simple moving average of $63.43 and a 200 day simple moving average of $69.03.

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nVent Electric (NYSE:NVT - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share 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%. On average, analysts expect that nVent Electric plc will post 3.04 EPS for the current fiscal 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. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.37%. nVent Electric's payout ratio is presently 40.82%.

Analysts Set New Price Targets

NVT has been the topic of several recent research reports. Barclays cut 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. Royal Bank of Canada boosted their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Citigroup lowered their target price 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. 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 research report on Monday, March 17th. Finally, Seaport Res Ptn upgraded nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday. Six equities research 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, nVent Electric presently has a consensus rating of "Buy" and a consensus target price of $83.33.

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.