Price T Rowe Associates Inc. MD lessened its holdings in nVent Electric plc (NYSE:NVT - Free Report) by 32.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 113,348 shares of the company's stock after selling 55,435 shares during the period. Price T Rowe Associates Inc. MD owned about 0.07% of nVent Electric worth $7,726,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the stock. Quadrant Capital Group LLC raised its stake 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 worth $259,000 after purchasing an additional 150 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position 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 last quarter. Calamos Advisors LLC lifted its position in shares of nVent Electric by 1.6% during the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company's stock worth $782,000 after buying an additional 176 shares during the last quarter. Keybank National Association OH boosted its holdings in shares of nVent Electric by 2.5% during the 4th quarter. Keybank National Association OH now owns 9,509 shares of the company's stock worth $648,000 after buying an additional 229 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of nVent Electric by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 5,078 shares of the company's stock worth $346,000 after acquiring an additional 255 shares in the last quarter. Institutional investors own 90.05% of the company's stock.
nVent Electric Stock Performance
Shares of NYSE NVT traded up $0.31 during trading hours on Friday, reaching $61.05. The stock had a trading volume of 488,119 shares, compared to its average volume of 1,910,461. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The company has a market cap of $10.05 billion, a price-to-earnings ratio of 31.15, a PEG ratio of 1.48 and a beta of 1.24. nVent Electric plc has a twelve month low of $41.71 and a twelve month high of $86.57. The business's fifty day moving average is $53.73 and its two-hundred day moving average is $65.01.
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, beating analysts' consensus estimates of $0.66 by $0.01. The business had revenue of $809.30 million during the quarter, compared to the consensus estimate of $790.74 million. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. The firm's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 earnings per share. As a group, research analysts expect that nVent Electric plc will post 3.04 EPS for the current year.
nVent Electric Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Friday, April 25th. nVent Electric's payout ratio is currently 22.86%.
Analysts Set New Price Targets
NVT has been the subject of several analyst reports. The Goldman Sachs Group dropped their target price on nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Citigroup lowered 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. Seaport Res Ptn raised shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. Barclays upped their price objective on nVent Electric from $65.00 to $70.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, Royal Bank of Canada upped their target price on shares of nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a research report on Monday. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $70.00.
Get Our Latest Analysis on NVT
nVent Electric 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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