Natixis Advisors LLC Decreases Stake in nVent Electric plc (NYSE:NVT)

Natixis Advisors LLC lowered its holdings in nVent Electric plc (NYSE:NVT) by 21.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 104,811 shares of the company’s stock after selling 28,804 shares during the quarter. Natixis Advisors LLC owned 0.06% of nVent Electric worth $7,143,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Hilton Capital Management LLC grew its position in shares of nVent Electric by 4.5% in the fourth quarter. Hilton Capital Management LLC now owns 34,596 shares of the company’s stock valued at $2,358,000 after purchasing an additional 1,502 shares during the period. Swiss National Bank increased its position in shares of nVent Electric by 0.9% during the fourth quarter. Swiss National Bank now owns 326,887 shares of the company’s stock valued at $22,281,000 after acquiring an additional 2,900 shares during the last quarter. Avantax Advisory Services Inc. increased its position in shares of nVent Electric by 7.5% during the fourth quarter. Avantax Advisory Services Inc. now owns 7,640 shares of the company’s stock valued at $521,000 after acquiring an additional 530 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of nVent Electric by 27.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,155 shares of the company’s stock valued at $283,000 after acquiring an additional 892 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of nVent Electric by 6.3% during the fourth quarter. Sequoia Financial Advisors LLC now owns 46,853 shares of the company’s stock valued at $3,193,000 after acquiring an additional 2,793 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Trading Down 0.0 %

NYSE NVT opened at $56.85 on Friday. The stock has a market capitalization of $9.38 billion, a PE ratio of 29.01, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. nVent Electric plc has a 52 week low of $51.99 and a 52 week high of $86.57. The firm has a 50 day moving average of $63.87 and a two-hundred day moving average of $69.05.

nVent Electric (NYSE:NVT) last released its earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, hitting 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 fiscal year.

nVent Electric Announces Dividend

The firm 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 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 1.41%. nVent Electric’s dividend payout ratio (DPR) is currently 40.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Monday. Royal Bank of Canada lifted their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Citigroup dropped their price objective 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, Barclays dropped their price objective on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $83.33.

nVent Electric Company 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.