Lido Advisors LLC Raises Position in nVent Electric plc (NYSE:NVT)

Lido Advisors LLC raised its holdings in nVent Electric plc (NYSE:NVT - Free Report) by 3.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 156,005 shares of the company's stock after purchasing an additional 4,817 shares during the period. Lido Advisors LLC owned 0.09% of nVent Electric worth $10,633,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NVT. Franklin Resources Inc. grew its holdings in nVent Electric by 22.1% during the 3rd quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company's stock valued at $527,374,000 after buying an additional 1,269,335 shares during the last quarter. Capital Research Global Investors acquired a new stake in shares of nVent Electric during the fourth quarter valued at $384,749,000. Norges Bank purchased a new stake in nVent Electric during the 4th quarter worth about $197,434,000. William Blair Investment Management LLC raised its stake in nVent Electric by 8.8% in the 4th quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company's stock valued at $176,630,000 after purchasing an additional 210,690 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in nVent Electric by 1.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company's stock valued at $123,891,000 after purchasing an additional 28,876 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

nVent Electric Trading Up 6.0 %

Shares of NYSE NVT traded up $3.41 during trading on Friday, hitting $59.80. 3,383,920 shares of the company traded hands, compared to its average volume of 1,915,984. The firm has a market capitalization of $9.85 billion, a P/E ratio of 30.51, a P/E/G ratio of 1.48 and a beta of 1.21. 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 company has a 50-day moving average price of $53.63 and a 200-day moving average price of $65.41. 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. The firm 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.78 earnings per share. On average, equities analysts predict that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be given 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 yield of 1.34%. nVent Electric's dividend payout ratio (DPR) is 40.82%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NVT. Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. Royal Bank of Canada boosted their price target on nVent Electric from $85.00 to $86.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Citigroup decreased their price objective on nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a report on Monday, April 14th. CL King raised nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective for the company in a research report on Monday, March 17th. Finally, The Goldman Sachs Group reduced their target price on nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, nVent Electric presently has an average rating of "Buy" and a consensus price target 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.