Thrivent Financial for Lutherans Reduces Stake in nVent Electric plc (NYSE:NVT)

Thrivent Financial for Lutherans lessened its stake in shares of nVent Electric plc (NYSE:NVT) by 22.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 332,414 shares of the company’s stock after selling 97,201 shares during the period. Thrivent Financial for Lutherans owned 0.20% of nVent Electric worth $22,657,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Tocqueville Asset Management L.P. raised its stake in nVent Electric by 52.6% during the fourth quarter. Tocqueville Asset Management L.P. now owns 113,160 shares of the company’s stock worth $7,713,000 after purchasing an additional 38,990 shares during the period. William Blair Investment Management LLC lifted its holdings in nVent Electric by 8.8% in the fourth quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company’s stock valued at $176,630,000 after acquiring an additional 210,690 shares during the last quarter. Corient Private Wealth LLC grew its position in nVent Electric by 198.1% in the fourth quarter. Corient Private Wealth LLC now owns 71,873 shares of the company’s stock worth $4,899,000 after acquiring an additional 47,761 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in nVent Electric by 115.1% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 32,450 shares of the company’s stock worth $2,212,000 after acquiring an additional 17,362 shares during the last quarter. Finally, Avalon Trust Co purchased a new stake in nVent Electric in the fourth quarter valued at $9,124,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NVT. 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. Citigroup dropped their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. 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. Finally, Barclays dropped their target price 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 research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $83.33.

nVent Electric Trading Down 0.0 %

NYSE NVT opened at $56.85 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The firm has a market cap of $9.38 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 1.48 and a beta of 1.31. The firm has a 50 day simple moving average of $63.87 and a 200-day simple moving average of $69.05. nVent Electric plc has a one year low of $51.99 and a one year high of $86.57.

nVent Electric (NYSE:NVT) last posted its quarterly 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%. Equities research analysts anticipate that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio is currently 40.82%.

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.