Zurcher Kantonalbank Zurich Cantonalbank Decreases Holdings in nVent Electric plc (NYSE:NVT)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of nVent Electric plc (NYSE:NVT - Free Report) by 58.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 109,846 shares of the company's stock after selling 152,288 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.07% of nVent Electric worth $7,487,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NVT. Nordea Investment Management AB lifted its position in nVent Electric by 16.9% during the 4th quarter. Nordea Investment Management AB now owns 93,172 shares of the company's stock valued at $6,378,000 after acquiring an additional 13,483 shares during the period. Geode Capital Management LLC boosted its holdings in nVent Electric by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company's stock worth $194,894,000 after acquiring an additional 29,794 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of nVent Electric during the fourth quarter valued at $1,520,000. TT International Asset Management LTD boosted its stake in nVent Electric by 20.4% in the 4th quarter. TT International Asset Management LTD now owns 108,395 shares of the company's stock worth $7,388,000 after purchasing an additional 18,376 shares in the last quarter. Finally, LVM Capital Management Ltd. MI grew its position in nVent Electric by 8.1% during the 4th quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company's stock valued at $10,307,000 after purchasing an additional 11,349 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

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Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Citigroup lowered their target price on shares of nVent Electric from $91.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. 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. Royal Bank of Canada upped 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. Finally, Barclays dropped their price objective on shares of nVent Electric from $88.00 to $83.00 and set an "overweight" rating on the stock in a report on Monday, March 3rd. Six research analysts have rated the stock with a buy rating, According to MarketBeat, nVent Electric currently has an average rating of "Buy" and a consensus price target of $83.33.

nVent Electric Price Performance

Shares of NVT traded up $0.04 during trading hours on Monday, reaching $56.72. 1,559,160 shares of the stock traded hands, compared to its average volume of 1,735,375. The company has a market cap of $9.36 billion, a P/E ratio of 28.94, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The company's 50-day moving average price is $64.98 and its two-hundred day moving average price is $69.38. nVent Electric plc has a 52-week low of $51.99 and a 52-week 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, 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, analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.41%. The ex-dividend date is Friday, April 25th. nVent Electric's dividend 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.