Lazard Asset Management LLC Has $90,000 Holdings in nVent Electric plc (NYSE:NVT)

Lazard Asset Management LLC lowered its stake in nVent Electric plc (NYSE:NVT - Free Report) by 95.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,349 shares of the company's stock after selling 27,960 shares during the period. Lazard Asset Management LLC's holdings in nVent Electric were worth $90,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in NVT. Crews Bank & Trust bought a new position in shares of nVent Electric in the fourth quarter worth about $26,000. Blue Trust Inc. increased its stake in shares of nVent Electric by 243.5% in the fourth quarter. Blue Trust Inc. now owns 869 shares of the company's stock worth $61,000 after purchasing an additional 616 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of nVent Electric in the fourth quarter worth about $65,000. Johnson Financial Group Inc. bought a new position in shares of nVent Electric in the fourth quarter worth about $65,000. Finally, Huntington National Bank increased its stake in shares of nVent Electric by 60.9% in the fourth quarter. Huntington National Bank now owns 985 shares of the company's stock worth $67,000 after purchasing an additional 373 shares during the period. Institutional investors and hedge funds own 90.05% of the company's stock.

nVent Electric Stock Performance

NVT traded down $0.72 on Wednesday, hitting $66.21. 1,233,365 shares of the stock traded hands, compared to its average volume of 1,937,167. nVent Electric plc has a 52 week low of $41.71 and a 52 week 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 firm has a market capitalization of $10.90 billion, a PE ratio of 33.78, a P/E/G ratio of 1.48 and a beta of 1.24. The business has a fifty day moving average price of $56.43 and a two-hundred day moving average price of $64.26.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. The company had revenue of $809.30 million for 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 company's quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.78 earnings per share. On average, research analysts predict that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Friday, July 18th. nVent Electric's payout ratio is 22.86%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NVT. Royal Bank of Canada lifted their price objective on nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. 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 research note on Monday, March 17th. KeyCorp boosted their price target on nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Citigroup lowered their price target on nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, The Goldman Sachs Group lowered their price target 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. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $70.00.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of nVent Electric stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total transaction of $247,915.35. Following the sale, the executive vice president now directly owns 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 this link. Company insiders own 1.80% of the company's stock.

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.