Ariel Investments LLC lowered its position in nVent Electric plc (NYSE:NVT - Free Report) by 16.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 783,145 shares of the company's stock after selling 155,791 shares during the quarter. Ariel Investments LLC owned about 0.48% of nVent Electric worth $53,379,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Crews Bank & Trust acquired a new position in shares of nVent Electric during the 4th quarter valued at $26,000. Tsfg LLC acquired a new stake in nVent Electric in the 4th quarter valued at about $51,000. Raleigh Capital Management Inc. boosted its position in shares of nVent Electric by 547.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 751 shares of the company's stock valued at $51,000 after purchasing an additional 635 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of nVent Electric by 26.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company's stock worth $53,000 after purchasing an additional 162 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in nVent Electric by 243.5% during the fourth quarter. Blue Trust Inc. now owns 869 shares of the company's stock worth $61,000 after buying an additional 616 shares in the last quarter. Institutional investors own 90.05% of the company's stock.
nVent Electric Trading Up 2.4 %
NVT stock traded up $1.43 during trading on Thursday, hitting $61.57. The company had a trading volume of 500,825 shares, compared to its average volume of 1,911,992. The firm has a 50-day moving average price of $53.64 and a 200-day moving average price of $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 quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The stock has a market cap of $10.14 billion, a price-to-earnings ratio of 31.41, a PEG ratio of 1.48 and a beta of 1.24.
nVent Electric (NYSE:NVT - Get Free Report) last released its 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. The company had revenue of $809.30 million during 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 firm's quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 earnings per share. As a group, analysts predict that nVent Electric plc will post 3.04 earnings per share for the current year.
nVent Electric Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric's dividend payout ratio (DPR) is 22.86%.
Analysts Set New Price Targets
Several research analysts have weighed in on NVT shares. Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. Royal Bank of Canada boosted their target price on nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a research note on Monday. Citigroup reduced their price target on nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a report on Monday, April 14th. The Goldman Sachs Group dropped their price objective on nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Finally, Barclays boosted their target price on shares of nVent Electric from $65.00 to $70.00 and gave the stock an "overweight" rating in a research report on Monday. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, nVent Electric presently has an average rating of "Buy" and a consensus price target of $70.00.
Read Our Latest Research Report on NVT
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.
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