Northern Trust Corp raised its stake in nVent Electric plc (NYSE:NVT - Free Report) by 32.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,542,986 shares of the company's stock after purchasing an additional 377,753 shares during the quarter. Northern Trust Corp owned about 0.94% of nVent Electric worth $105,170,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Crews Bank & Trust purchased a new stake in shares of nVent Electric during the 4th quarter valued at about $26,000. Tsfg LLC purchased a new stake in shares of nVent Electric during the fourth quarter valued at approximately $51,000. Raleigh Capital Management Inc. lifted its position in shares of nVent Electric by 547.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 751 shares of the company's stock worth $51,000 after purchasing an additional 635 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of 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 purchasing an additional 162 shares during the period. Finally, Blue Trust Inc. grew its holdings in nVent Electric by 243.5% during the 4th quarter. Blue Trust Inc. now owns 869 shares of the company's stock valued at $61,000 after purchasing an additional 616 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have commented on the stock. KeyCorp boosted their price objective on shares of nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a report on Monday. Barclays raised their price target on shares of nVent Electric from $65.00 to $70.00 and gave the stock an "overweight" rating in a research report on Monday. Citigroup reduced their price objective 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. CL King upgraded nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price target for the company in a research report on Monday, March 17th. Finally, Royal Bank of Canada boosted their target price on nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a report on Monday. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, nVent Electric has a consensus rating of "Buy" and an average target price of $70.00.
Read Our Latest Stock Analysis on NVT
nVent Electric Stock Up 0.7 %
Shares of NVT traded up $0.42 during mid-day trading on Friday, reaching $61.16. The company's stock had a trading volume of 586,673 shares, compared to its average volume of 1,910,880. The business has a fifty day moving average of $53.73 and a 200 day moving average of $65.01. The company has a market cap of $10.07 billion, a price-to-earnings ratio of 31.20, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. nVent Electric plc has a 1 year low of $41.71 and a 1 year high of $86.57.
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 for the quarter, topping analysts' consensus estimates of $0.66 by $0.01. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. The business had revenue of $809.30 million for the quarter, compared to the consensus estimate of $790.74 million. During the same period in the prior year, the business posted $0.78 earnings per share. nVent Electric's revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, analysts forecast that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.
nVent Electric Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.31%. nVent Electric's dividend payout ratio is currently 22.86%.
nVent Electric Profile
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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.
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