Vanguard Group Inc. Sells 22,106 Shares of nVent Electric plc (NYSE:NVT)

Vanguard Group Inc. lowered its position in shares of nVent Electric plc (NYSE:NVT - Free Report) by 0.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,892,908 shares of the company's stock after selling 22,106 shares during the quarter. Vanguard Group Inc. owned about 10.25% of nVent Electric worth $1,151,421,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NVT. Advisors Asset Management Inc. boosted its holdings in nVent Electric by 5.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 6,153 shares of the company's stock valued at $432,000 after purchasing an additional 301 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of nVent Electric by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,035,463 shares of the company's stock valued at $72,752,000 after buying an additional 3,599 shares in the last quarter. Citigroup Inc. boosted its stake in shares of nVent Electric by 3.3% in the third quarter. Citigroup Inc. now owns 62,044 shares of the company's stock valued at $4,359,000 after buying an additional 1,959 shares during the period. Cerity Partners LLC grew its position in nVent Electric by 145.7% during the third quarter. Cerity Partners LLC now owns 45,248 shares of the company's stock worth $3,179,000 after buying an additional 26,832 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company's stock worth $27,000 after acquiring an additional 181 shares during the period. Institutional investors own 90.05% of the company's stock.

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Analyst Ratings Changes

NVT has been the subject of a number of recent analyst reports. KeyCorp cut their target price on nVent Electric from $84.00 to $75.00 and set an "overweight" rating for the company in a research report on Friday. Royal Bank of Canada upped their price objective 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. CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price on the stock in a report on Monday, March 17th. Citigroup cut their price target on shares of nVent Electric from $91.00 to $90.00 and set a "buy" rating for the company in a report on Monday, January 13th. Finally, 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. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $80.50.

nVent Electric Price Performance

Shares of NVT traded up $0.83 during mid-day trading on Tuesday, reaching $53.25. The company had a trading volume of 1,887,517 shares, compared to its average volume of 1,817,061. The company has a market capitalization of $8.79 billion, a price-to-earnings ratio of 27.17, a P/E/G ratio of 1.48 and a beta of 1.31. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The company's 50 day simple moving average is $61.36 and its 200 day simple moving average is $68.66. nVent Electric plc has a 1-year low of $50.14 and a 1-year 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 earnings per share for the quarter, meeting analysts' consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. Analysts expect that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be issued a $0.20 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a yield of 1.50%. nVent Electric's payout ratio 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.