Clearbridge Investments LLC Increases Stake in nVent Electric plc (NYSE:NVT)

Clearbridge Investments LLC increased its position in shares of nVent Electric plc (NYSE:NVT) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 779,967 shares of the company’s stock after buying an additional 38,891 shares during the period. Clearbridge Investments LLC owned about 0.47% of nVent Electric worth $53,163,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its position in shares of nVent Electric by 26.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock valued at $53,000 after purchasing an additional 162 shares during the last quarter. Calamos Advisors LLC increased its holdings in nVent Electric by 1.6% in 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 last quarter. Keybank National Association OH raised its stake in nVent Electric by 2.5% in the fourth quarter. Keybank National Association OH now owns 9,509 shares of the company’s stock valued at $648,000 after buying an additional 229 shares in the last quarter. CIBC Asset Management Inc raised its stake in nVent Electric by 5.3% in the fourth 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 in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in nVent Electric by 25.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,283 shares of the company’s stock worth $88,000 after buying an additional 264 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Trading Down 1.0 %

Shares of NVT stock opened at $52.40 on Tuesday. nVent Electric plc has a twelve month low of $50.14 and a twelve 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. The business’s 50 day moving average is $61.79 and its two-hundred day moving average is $68.75. The company has a market capitalization of $8.65 billion, a P/E ratio of 26.74, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share 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%. Equities analysts forecast that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be issued a $0.20 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.53%. nVent Electric’s dividend payout ratio is currently 40.82%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on NVT shares. Barclays decreased their target price on nVent Electric from $83.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday, March 26th. Royal Bank of Canada upped their target price 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. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. KeyCorp decreased 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. Finally, CL King upgraded nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Monday, March 17th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price 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.