Bearing Point Capital LLC bought a new position in shares of nVent Electric plc (NYSE:NVT - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 63,522 shares of the company's stock, valued at approximately $4,330,000.
A number of other institutional investors and hedge funds have also made changes to their positions in NVT. Capital Research Global Investors purchased a new stake in nVent Electric during the fourth quarter worth about $384,749,000. Norges Bank acquired a new stake in shares of nVent Electric in the 4th quarter worth approximately $197,434,000. Champlain Investment Partners LLC purchased a new position in nVent Electric in the 4th quarter valued at approximately $86,738,000. Franklin Resources Inc. raised its holdings in nVent Electric by 22.1% during the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company's stock worth $527,374,000 after purchasing an additional 1,269,335 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its position in nVent Electric by 3,186.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 711,343 shares of the company's stock worth $48,485,000 after purchasing an additional 689,701 shares in the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on NVT shares. CL King raised nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price target for the company in a research note on Monday, March 17th. Citigroup reduced their price target on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a report on Monday, April 14th. KeyCorp dropped their price objective on shares of nVent Electric from $75.00 to $60.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. The Goldman Sachs Group reduced their target price on nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Finally, Barclays dropped their price target on nVent Electric from $70.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $69.00.
Check Out Our Latest Report on NVT
nVent Electric Stock Up 6.0 %
Shares of NYSE NVT opened at $59.80 on Friday. The firm has a market cap of $9.85 billion, a P/E ratio of 30.51, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. nVent Electric plc has a 1 year low of $41.71 and a 1 year high of $86.57. The firm's 50 day moving average price is $53.63 and its 200 day moving average price is $65.35.
nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. The business had revenue of $809.30 million for the quarter, compared to analysts' expectations of $790.74 million. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. The business's revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 earnings per share. As a group, sell-side analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current year.
nVent Electric Announces Dividend
The firm also recently declared 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 1.34%. The ex-dividend date is Friday, April 25th. nVent Electric's dividend payout ratio (DPR) is 22.86%.
nVent Electric Company Profile
(
Free Report)
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.
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