Wellington Management Group LLP cut its holdings in nVent Electric plc (NYSE:NVT - Free Report) by 65.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 113,570 shares of the company's stock after selling 212,818 shares during the quarter. Wellington Management Group LLP owned about 0.07% of nVent Electric worth $7,741,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in nVent Electric in the fourth quarter worth $197,434,000. Franklin Resources Inc. increased its holdings in shares of nVent Electric by 22.1% during the 3rd quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company's stock valued at $527,374,000 after acquiring an additional 1,269,335 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in shares of nVent Electric by 3,186.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 711,343 shares of the company's stock valued at $48,485,000 after acquiring an additional 689,701 shares in the last quarter. Impax Asset Management Group plc boosted its position in nVent Electric by 2,764.1% during the fourth quarter. Impax Asset Management Group plc now owns 647,304 shares of the company's stock worth $43,626,000 after purchasing an additional 624,703 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in nVent Electric by 113.7% during the fourth quarter. JPMorgan Chase & Co. now owns 1,075,409 shares of the company's stock valued at $73,300,000 after purchasing an additional 572,086 shares during the last quarter. 90.05% of the stock is owned by institutional investors.
nVent Electric Stock Performance
Shares of NYSE NVT traded up $0.72 during trading hours on Tuesday, reaching $50.69. The stock had a trading volume of 933,915 shares, compared to its average volume of 1,881,090. nVent Electric plc has a twelve month low of $41.71 and a twelve month high of $86.57. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The business's fifty day moving average is $57.36 and its two-hundred day moving average is $67.10. The company has a market cap of $8.35 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 1.48 and a beta of 1.21.
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 the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. As a group, research analysts expect that nVent Electric plc will post 3.04 EPS for the current year.
nVent Electric Announces Dividend
The business 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 dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 annualized dividend and a yield of 1.58%. nVent Electric's dividend payout ratio is currently 40.82%.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the stock. 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 report on Friday, February 7th. Seaport Res Ptn raised nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. Barclays cut their price objective on nVent Electric from $70.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. The Goldman Sachs Group lowered their target price on nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Finally, CL King upgraded nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price target for the company in a report on Monday, March 17th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $69.00.
Get Our Latest Analysis on NVT
nVent Electric 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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