Fmr LLC Has $361.80 Million Stock Position in nVent Electric plc (NYSE:NVT)

FMR LLC trimmed its holdings in shares of nVent Electric plc (NYSE:NVT - Free Report) by 17.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,308,019 shares of the company's stock after selling 1,110,512 shares during the period. FMR LLC owned approximately 3.22% of nVent Electric worth $361,795,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of NVT. Quadrant Capital Group LLC increased its position 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 purchasing an additional 150 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in nVent Electric by 26.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company's stock worth $53,000 after acquiring an additional 162 shares during the period. Calamos Advisors LLC raised its position in nVent Electric by 1.6% in the fourth quarter. Calamos Advisors LLC now owns 11,468 shares of the company's stock worth $782,000 after acquiring an additional 176 shares in the last quarter. Keybank National Association OH raised its position in nVent Electric by 2.5% in the fourth quarter. Keybank National Association OH now owns 9,509 shares of the company's stock worth $648,000 after acquiring an additional 229 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in nVent Electric by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 5,078 shares of the company's stock valued at $346,000 after acquiring an additional 255 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Stock Down 0.2 %

NYSE:NVT traded down $0.09 during trading hours on Wednesday, hitting $50.43. 394,474 shares of the company's stock traded hands, compared to its average volume of 2,350,517. nVent Electric plc has a twelve month low of $41.71 and a twelve month high of $86.57. The firm has a market cap of $8.30 billion, a P/E ratio of 25.73, a P/E/G ratio of 1.48 and a beta of 1.21. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The stock's fifty day moving average price is $57.06 and its two-hundred day moving average price is $66.99.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. On average, research analysts expect that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Friday, April 25th. nVent Electric's dividend payout ratio (DPR) is presently 40.82%.

Analyst Upgrades and Downgrades

NVT has been the topic of a number of research reports. Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. Barclays dropped their price target on nVent Electric from $70.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. CL King upgraded nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 target price on the stock in a report on Monday, March 17th. Royal Bank of Canada upped their target price on nVent Electric from $85.00 to $86.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Finally, The Goldman Sachs Group dropped 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 investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, nVent Electric presently has an average rating of "Buy" and an average target price of $69.00.

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.