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Federated Hermes Inc. Decreases Stake in nVent Electric PLC (NYSE:NVT)

nVent Electric logo with Computer and Technology background

Federated Hermes Inc. trimmed its holdings in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 0.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,123,701 shares of the company's stock after selling 4,327 shares during the period. Federated Hermes Inc. owned about 0.68% of nVent Electric worth $58,904,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Capital Research Global Investors bought a new position in nVent Electric in the fourth quarter worth about $384,749,000. Millennium Management LLC raised its stake in nVent Electric by 743.7% in the fourth quarter. Millennium Management LLC now owns 2,215,624 shares of the company's stock worth $151,017,000 after buying an additional 1,953,026 shares in the last quarter. Bank of New York Mellon Corp raised its stake in nVent Electric by 1.7% in the first quarter. Bank of New York Mellon Corp now owns 1,747,395 shares of the company's stock worth $91,598,000 after buying an additional 29,027 shares in the last quarter. Invesco Ltd. raised its stake in nVent Electric by 15.0% in the fourth quarter. Invesco Ltd. now owns 1,723,868 shares of the company's stock worth $117,499,000 after buying an additional 224,657 shares in the last quarter. Finally, Johnson Investment Counsel Inc. raised its stake in nVent Electric by 8.1% in the first quarter. Johnson Investment Counsel Inc. now owns 1,704,025 shares of the company's stock worth $89,325,000 after buying an additional 128,023 shares in the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Trading Up 14.4%

NYSE:NVT traded up $11.27 during mid-day trading on Friday, hitting $89.69. 6,166,288 shares of the stock traded hands, compared to its average volume of 2,200,875. The company has a quick ratio of 2.42, a current ratio of 2.87 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $14.77 billion, a price-to-earnings ratio of 25.63, a PEG ratio of 1.56 and a beta of 1.31. The firm's 50 day moving average is $72.01 and its two-hundred day moving average is $64.00. nVent Electric PLC has a 52 week low of $41.71 and a 52 week high of $89.91.

nVent Electric (NYSE:NVT - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.07. nVent Electric had a net margin of 18.22% and a return on equity of 13.54%. During the same period in the prior year, the company posted $0.82 EPS. nVent Electric's revenue was up 30.1% compared to the same quarter last year. On average, equities research analysts predict 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 will be paid on Friday, August 1st. Shareholders of record on Saturday, January 1st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, July 18th. nVent Electric's payout ratio is currently 22.86%.

Insider Transactions at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of nVent Electric stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $61.35, for a total value of $247,915.35. Following the transaction, the executive vice president directly owned 32,665 shares of the company's stock, valued at approximately $2,003,997.75. The trade was a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. KeyCorp raised their target price on shares of nVent Electric from $78.00 to $84.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Royal Bank Of Canada lifted their price target on shares of nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Wall Street Zen upgraded shares of nVent Electric from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. The Goldman Sachs Group lifted their price target on shares of nVent Electric from $78.00 to $87.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Finally, Citigroup boosted their price target on shares of nVent Electric from $69.00 to $86.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, nVent Electric currently has a consensus rating of "Buy" and an average target price of $81.57.

Check Out Our Latest Stock Analysis on nVent Electric

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.

See Also

Institutional Ownership by Quarter for nVent Electric (NYSE:NVT)

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