NEOS Investment Management LLC Makes New Investment in nVent Electric plc (NYSE:NVT)

NEOS Investment Management LLC bought a new stake in shares of nVent Electric plc (NYSE:NVT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,780 shares of the company’s stock, valued at approximately $462,000.

Several other large investors have also recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB boosted its position in shares of nVent Electric by 26.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock worth $53,000 after buying an additional 162 shares during the period. Calamos Advisors LLC raised its position in nVent Electric by 1.6% during the fourth quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock valued at $782,000 after buying an additional 176 shares during the period. Larson Financial Group LLC lifted its position in shares of nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares in the last quarter. Keybank National Association OH lifted its position in nVent Electric by 2.5% in the 4th quarter. Keybank National Association OH now owns 9,509 shares of the company’s stock worth $648,000 after buying an additional 229 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of nVent Electric by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 5,078 shares of the company’s stock valued at $346,000 after buying an additional 255 shares during the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Stock Down 3.1 %

Shares of NYSE NVT opened at $52.89 on Monday. 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 $8.73 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. nVent Electric plc has a 12-month low of $51.99 and a 12-month high of $86.57. The firm’s 50-day simple moving average is $62.19 and its 200 day simple moving average is $68.84.

nVent Electric (NYSE:NVT) last released its earnings results 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%. On average, research analysts expect that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

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 given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Friday, April 25th. nVent Electric’s payout ratio is 40.82%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NVT. KeyCorp reduced their price objective on shares of nVent Electric from $84.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday. Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. Citigroup decreased their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Barclays decreased their price target on shares of nVent Electric from $83.00 to $75.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Finally, CL King upgraded nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Monday, March 17th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $80.50.

About nVent Electric

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.