Addison Capital Co Sells 350 Shares of nVent Electric plc (NYSE:NVT)

Addison Capital Co lessened its position in nVent Electric plc (NYSE:NVT) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,850 shares of the company’s stock after selling 350 shares during the quarter. Addison Capital Co’s holdings in nVent Electric were worth $740,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. raised its holdings in nVent Electric by 22.1% in the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock worth $527,374,000 after purchasing an additional 1,269,335 shares in the last quarter. State Street Corp increased its stake in shares of nVent Electric by 0.9% in the 3rd quarter. State Street Corp now owns 5,031,623 shares of the company’s stock worth $353,522,000 after acquiring an additional 42,465 shares in the last quarter. Geode Capital Management LLC lifted its position in nVent Electric by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock valued at $194,894,000 after acquiring an additional 29,794 shares during the period. Janus Henderson Group PLC grew its holdings in nVent Electric by 23.6% in the third quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock worth $171,492,000 after purchasing an additional 466,042 shares during the period. Finally, Clean Energy Transition LLP grew its holdings in nVent Electric by 56.5% in the third quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock worth $158,411,000 after purchasing an additional 813,909 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on NVT shares. Barclays dropped their price target on 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 raised their price target on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Citigroup dropped their price target 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. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $86.00.

nVent Electric Stock Performance

Shares of NVT opened at $56.84 on Monday. The company has a market cap of $9.38 billion, a price-to-earnings ratio of 29.00, a P/E/G ratio of 1.48 and a beta of 1.31. The business’s fifty day simple moving average is $64.98 and its two-hundred day simple moving average is $69.38. nVent Electric plc has a 12 month low of $51.99 and a 12 month high of $86.57. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.59 EPS for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. Research analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors 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 dividend on an annualized basis and a yield of 1.41%. nVent Electric’s dividend payout ratio (DPR) is 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.