nVent Electric plc (NYSE:NVT) Holdings Trimmed by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in nVent Electric plc (NYSE:NVT - Free Report) by 5.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 499,419 shares of the company's stock after selling 29,098 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.30% of nVent Electric worth $29,511,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in NVT. International Assets Investment Management LLC acquired a new stake in nVent Electric in the fourth quarter valued at about $821,000. Prime Capital Investment Advisors LLC boosted its stake in shares of nVent Electric by 45.0% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 10,395 shares of the company's stock valued at $614,000 after buying an additional 3,226 shares in the last quarter. Allworth Financial LP grew its holdings in nVent Electric by 162.3% during the fourth quarter. Allworth Financial LP now owns 1,204 shares of the company's stock worth $71,000 after acquiring an additional 745 shares during the period. State of Michigan Retirement System grew its holdings in nVent Electric by 0.5% during the fourth quarter. State of Michigan Retirement System now owns 39,806 shares of the company's stock worth $2,352,000 after acquiring an additional 200 shares during the period. Finally, PFG Advisors raised its position in nVent Electric by 9.0% in the fourth quarter. PFG Advisors now owns 7,669 shares of the company's stock worth $453,000 after acquiring an additional 632 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

nVent Electric Price Performance

Shares of NVT stock traded down $0.73 during trading hours on Friday, hitting $74.17. The company's stock had a trading volume of 824,013 shares, compared to its average volume of 1,219,096. The company has a current ratio of 1.82, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The business has a fifty day moving average of $69.57 and a 200-day moving average of $59.74. nVent Electric plc has a twelve month low of $40.19 and a twelve month high of $78.98. The stock has a market cap of $12.31 billion, a price-to-earnings ratio of 22.01, a P/E/G ratio of 1.61 and a beta of 1.35.

nVent Electric (NYSE:NVT - Get Free Report) last announced its earnings results on Tuesday, February 6th. The company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.03. nVent Electric had a return on equity of 17.53% and a net margin of 17.38%. The firm had revenue of $861.20 million for the quarter, compared to analysts' expectations of $866.90 million. During the same quarter in the prior year, the firm earned $0.66 EPS. nVent Electric's quarterly revenue was up 16.1% on a year-over-year basis. As a group, equities research analysts anticipate that nVent Electric plc will post 3.24 EPS for the current year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be issued a $0.19 dividend. The ex-dividend date is Thursday, April 25th. This represents a $0.76 dividend on an annualized basis and a yield of 1.02%. nVent Electric's dividend payout ratio (DPR) is 22.55%.

Insiders Place Their Bets

In other news, Director Randall J. Hogan sold 184,572 shares of the business's stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $64.03, for a total value of $11,818,145.16. Following the completion of the transaction, the director now owns 8,277 shares of the company's stock, valued at $529,976.31. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Randall J. Hogan sold 184,572 shares of the firm's stock in a transaction on Friday, February 9th. The stock was sold at an average price of $64.03, for a total transaction of $11,818,145.16. Following the sale, the director now owns 8,277 shares in the company, valued at $529,976.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Beth Wozniak sold 198,211 shares of the company's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $64.29, for a total value of $12,742,985.19. Following the completion of the transaction, the chief executive officer now owns 342 shares of the company's stock, valued at $21,987.18. The disclosure for this sale can be found here. Insiders have sold 400,252 shares of company stock valued at $25,713,777 in the last ninety days. Insiders own 2.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Citigroup upped their price target on shares of nVent Electric from $71.00 to $91.00 and gave the stock a "buy" rating in a research note on Monday, April 8th. The Goldman Sachs Group increased their target price on shares of nVent Electric from $69.00 to $77.00 and gave the company a "buy" rating in a report on Friday, March 15th. Barclays boosted their price target on nVent Electric from $74.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on nVent Electric in a research note on Monday, March 11th. They issued a "buy" rating and a $83.00 price objective for the company. Finally, Royal Bank of Canada lifted their price objective on nVent Electric from $65.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $81.60.

About nVent Electric

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.