Clark Capital Management Group Inc. Sells 801,019 Shares of nVent Electric plc (NYSE:NVT)

Clark Capital Management Group Inc. reduced its holdings in nVent Electric plc (NYSE:NVT - Free Report) by 37.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,310,242 shares of the company's stock after selling 801,019 shares during the period. Clark Capital Management Group Inc. owned approximately 0.79% of nVent Electric worth $89,306,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Quadrant Capital Group LLC lifted its stake in shares of nVent Electric by 4.1% during the 4th quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company's stock valued at $259,000 after buying an additional 150 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in nVent Electric by 26.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company's stock valued at $53,000 after acquiring an additional 162 shares in the last quarter. Calamos Advisors LLC lifted its position in nVent Electric by 1.6% during the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company's stock valued at $782,000 after acquiring an additional 176 shares during the period. Utah Retirement Systems boosted its stake in nVent Electric by 2.3% in the 4th quarter. Utah Retirement Systems now owns 8,923 shares of the company's stock worth $608,000 after purchasing an additional 200 shares in the last quarter. Finally, Hancock Whitney Corp boosted its stake in nVent Electric by 1.4% during the 4th quarter. Hancock Whitney Corp now owns 15,031 shares of the company's stock valued at $1,025,000 after purchasing an additional 206 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

nVent Electric Stock Down 0.1 %

NYSE NVT opened at $60.21 on Thursday. The company's 50 day simple moving average is $53.64 and its 200 day simple moving average is $65.11. nVent Electric plc has a 12 month low of $41.71 and a 12 month high of $86.57. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The company has a market capitalization of $9.91 billion, a P/E ratio of 30.72, a PEG ratio of 1.48 and a beta of 1.24.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings results 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. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. The company had revenue of $809.30 million for the quarter, compared to analyst estimates of $790.74 million. During the same period last year, the business posted $0.78 EPS. The business's quarterly revenue was up 10.5% on a year-over-year basis. Equities research analysts expect that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.33%. nVent Electric's payout ratio is presently 22.86%.

Wall Street Analysts Forecast Growth

NVT has been the topic of several recent analyst reports. Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. 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 report on Monday, March 17th. KeyCorp boosted their price target on nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a research note on Monday. Barclays upped their price target on nVent Electric from $65.00 to $70.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Citigroup dropped their price target on nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, nVent Electric presently has an average rating of "Buy" and a consensus target price of $70.00.

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.

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