Victory Capital Management Inc. lessened its stake in shares of nVent Electric plc (NYSE:NVT - Free Report) by 81.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,738 shares of the company's stock after selling 131,216 shares during the quarter. Victory Capital Management Inc.'s holdings in nVent Electric were worth $2,095,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of NVT. MassMutual Private Wealth & Trust FSB increased its position in shares of nVent Electric by 26.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company's stock worth $53,000 after acquiring an additional 162 shares during the last quarter. CIBC Asset Management Inc increased its holdings in nVent Electric by 3.6% in the third quarter. CIBC Asset Management Inc now owns 4,823 shares of the company's stock valued at $339,000 after buying an additional 166 shares during the last quarter. Calamos Advisors LLC increased its holdings in nVent Electric by 1.6% in the fourth quarter. Calamos Advisors LLC now owns 11,468 shares of the company's stock valued at $782,000 after buying an additional 176 shares during the last quarter. Larson Financial Group LLC increased its holdings 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 buying an additional 181 shares during the last quarter. Finally, Huntington National Bank increased its holdings in nVent Electric by 57.3% in the third quarter. Huntington National Bank now owns 612 shares of the company's stock valued at $43,000 after buying an additional 223 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.
nVent Electric Stock Performance
Shares of NYSE:NVT traded up $0.25 during trading on Friday, hitting $57.11. 3,756,930 shares of the company traded hands, compared to its average volume of 1,749,066. 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 business's fifty day moving average is $63.87 and its 200-day moving average is $69.05. The stock has a market capitalization of $9.42 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 1.48 and a beta of 1.31. nVent Electric plc has a one year low of $51.99 and a one year high of $86.57.
nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share (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%. As a group, equities analysts predict that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.
nVent Electric Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be given 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 1.40%. nVent Electric's dividend payout ratio is presently 40.82%.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on NVT. CL King raised nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective for the company in a report on Monday. Royal Bank of Canada upped their target price on nVent Electric from $85.00 to $86.00 and gave the company an "outperform" rating in a report 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 report on Monday, January 13th. Finally, Barclays lowered their target price on nVent Electric from $88.00 to $83.00 and set an "overweight" rating for the company in a report on Monday, March 3rd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, nVent Electric currently has a consensus rating of "Buy" and a consensus target price of $83.33.
Check Out Our Latest Stock 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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