Vanguard Group Inc. Cuts Stock Holdings in nVent Electric plc (NYSE:NVT)

Vanguard Group Inc. reduced its stake in nVent Electric plc (NYSE:NVT) by 0.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,892,908 shares of the company’s stock after selling 22,106 shares during the quarter. Vanguard Group Inc. owned about 10.25% of nVent Electric worth $1,151,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of NVT. Nordea Investment Management AB raised its position in shares of 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 buying an additional 13,483 shares in the last quarter. Geode Capital Management LLC increased its stake 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 valued at $194,894,000 after acquiring an additional 29,794 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in nVent Electric during the fourth quarter valued at about $1,520,000. TT International Asset Management LTD lifted its stake in nVent Electric by 20.4% during the fourth 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 during the last quarter. Finally, LVM Capital Management Ltd. MI boosted its holdings in shares of nVent Electric by 8.1% in the 4th quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock worth $10,307,000 after purchasing an additional 11,349 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Stock Down 2.1 %

Shares of NYSE NVT opened at $54.61 on Friday. The firm’s fifty day moving average is $62.58 and its 200 day moving average is $68.82. nVent Electric plc has a 52 week low of $51.99 and a 52 week high of $86.57. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The company has a market cap of $9.01 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 1.48 and a beta of 1.31.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting 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, equities research analysts expect that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.46%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is currently 40.82%.

Analyst Upgrades and Downgrades

NVT has been the topic of a number of research reports. CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Monday, March 17th. Royal Bank of Canada lifted their price target on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Seaport Res Ptn raised shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Barclays decreased their target price on shares of nVent Electric from $83.00 to $75.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Citigroup cut 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. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, nVent Electric currently has an average rating of “Buy” and a consensus price target of $82.00.

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.