BNP Paribas Financial Markets Cuts Stock Holdings in nVent Electric plc (NYSE:NVT)

BNP Paribas Financial Markets decreased its holdings in shares of nVent Electric plc (NYSE:NVT - Free Report) by 17.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,254 shares of the company's stock after selling 13,115 shares during the quarter. BNP Paribas Financial Markets' holdings in nVent Electric were worth $4,107,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of NVT. Pacer Advisors Inc. boosted its stake in nVent Electric by 12.4% in the fourth quarter. Pacer Advisors Inc. now owns 55,790 shares of the company's stock worth $3,803,000 after buying an additional 6,175 shares in the last quarter. LPL Financial LLC boosted its stake in nVent Electric by 12.6% in the fourth quarter. LPL Financial LLC now owns 140,043 shares of the company's stock worth $9,545,000 after buying an additional 15,685 shares in the last quarter. Oak Thistle LLC purchased a new stake in nVent Electric in the fourth quarter worth approximately $1,009,000. Mountain Pacific Investment Advisers LLC boosted its stake in nVent Electric by 14.9% in the fourth quarter. Mountain Pacific Investment Advisers LLC now owns 192,050 shares of the company's stock worth $13,090,000 after buying an additional 24,900 shares in the last quarter. Finally, Miracle Mile Advisors LLC purchased a new stake in nVent Electric in the fourth quarter worth approximately $760,000. Hedge funds and other institutional investors own 90.05% of the company's stock.

Insider Buying and Selling

In related news, EVP Lynnette R. Heath sold 4,041 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total value of $247,915.35. Following the sale, the executive vice president now directly owns 32,665 shares of the company's stock, valued at $2,003,997.75. This represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Royal Bank of Canada boosted their price objective on nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Barclays boosted their price objective on nVent Electric from $65.00 to $70.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. KeyCorp boosted their price objective on nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. The Goldman Sachs Group lowered their price objective on nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Finally, Seaport Res Ptn upgraded nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, nVent Electric presently has a consensus rating of "Buy" and an average target price of $70.00.

nVent Electric Price Performance

Shares of nVent Electric stock opened at $67.89 on Thursday. 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 $11.18 billion, a PE ratio of 34.64, a P/E/G ratio of 1.48 and a beta of 1.24. The business has a 50 day moving average of $54.58 and a 200 day moving average of $64.81. nVent Electric plc has a 52 week low of $41.71 and a 52 week high of $86.57.

nVent Electric (NYSE:NVT - Get Free Report) last announced its earnings results on Friday, May 2nd. The company reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. The company had revenue of $809.30 million during the quarter, compared to the consensus estimate of $790.74 million. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 earnings per share. As a group, equities research analysts forecast that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 25th were paid a $0.20 dividend. The ex-dividend date was Friday, April 25th. This represents a $0.80 annualized dividend and a yield of 1.18%. nVent Electric's payout ratio is 22.86%.

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.

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