Dimensional Fund Advisors LP Reduces Stock Holdings in nVent Electric plc (NYSE:NVT)

Dimensional Fund Advisors LP cut its holdings in shares of nVent Electric plc (NYSE:NVT - Free Report) by 34.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,177,575 shares of the company's stock after selling 1,130,913 shares during the period. Dimensional Fund Advisors LP owned 1.31% of nVent Electric worth $128,675,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC bought a new stake in shares of nVent Electric during the fourth quarter valued at approximately $2,492,000. Citigroup Inc. boosted its holdings in nVent Electric by 73.9% in the third quarter. Citigroup Inc. now owns 71,372 shares of the company's stock worth $3,782,000 after acquiring an additional 30,325 shares in the last quarter. Jump Financial LLC boosted its holdings in nVent Electric by 194.1% in the fourth quarter. Jump Financial LLC now owns 39,432 shares of the company's stock worth $2,330,000 after acquiring an additional 26,024 shares in the last quarter. Mariner LLC boosted its holdings in nVent Electric by 10.1% in the third quarter. Mariner LLC now owns 24,649 shares of the company's stock worth $1,306,000 after acquiring an additional 2,263 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in nVent Electric in the fourth quarter worth $1,221,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

nVent Electric Stock Down 0.5 %

Shares of NVT stock traded down $0.40 during mid-day trading on Friday, hitting $80.01. The company's stock had a trading volume of 1,627,649 shares, compared to its average volume of 1,830,962. nVent Electric plc has a 52-week low of $40.44 and a 52-week high of $84.36. The business has a 50-day moving average price of $74.90 and a 200 day moving average price of $64.30. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.35 and a current ratio of 1.99. The stock has a market cap of $13.28 billion, a price-to-earnings ratio of 23.33, a PEG ratio of 1.79 and a beta of 1.35.

nVent Electric (NYSE:NVT - Get Free Report) last posted its earnings results on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.04. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The company had revenue of $874.60 million for the quarter, compared to the consensus estimate of $864.14 million. During the same quarter in the prior year, the company earned $0.67 earnings per share. nVent Electric's revenue was up 18.0% on a year-over-year basis. Research analysts predict that nVent Electric plc will post 3.27 EPS for the current fiscal year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Friday, July 19th. nVent Electric's dividend payout ratio is 22.16%.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, insider Michael B. Faulconer sold 10,961 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $67.33, for a total value of $738,004.13. Following the transaction, the insider now owns 33,109 shares of the company's stock, valued at $2,229,228.97. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. The Goldman Sachs Group boosted their target price on nVent Electric from $77.00 to $87.00 and gave the stock a "buy" rating in a report on Monday, May 6th. Royal Bank of Canada dropped their target price on nVent Electric from $89.00 to $88.00 and set an "outperform" rating on the stock in a report on Monday, May 6th. Deutsche Bank Aktiengesellschaft assumed coverage on nVent Electric in a report on Monday, March 11th. They issued a "buy" rating and a $83.00 target price on the stock. Barclays boosted their target price on nVent Electric from $74.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, April 2nd. Finally, Citigroup boosted their price target on nVent Electric from $91.00 to $92.00 and gave the stock a "buy" rating in a research note on Monday, May 6th. One 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.com, the company has an average rating of "Moderate Buy" and an average target price of $87.00.

nVent Electric Company 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.