The Manufacturers Life Insurance Company Cuts Stock Holdings in nVent Electric plc (NYSE:NVT)

The Manufacturers Life Insurance Company cut its holdings in shares of nVent Electric plc (NYSE:NVT - Free Report) by 7.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 196,459 shares of the company's stock after selling 15,637 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.12% of nVent Electric worth $13,391,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Research Global Investors acquired a new position in shares of nVent Electric during the 4th quarter worth approximately $384,749,000. Norges Bank purchased a new position in nVent Electric during the fourth quarter valued at $197,434,000. Champlain Investment Partners LLC acquired a new stake in shares of nVent Electric in the fourth quarter valued at about $86,738,000. Franklin Resources Inc. raised its position in shares of nVent Electric by 22.1% during the 3rd quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company's stock worth $527,374,000 after purchasing an additional 1,269,335 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its position in shares of nVent Electric by 3,186.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 711,343 shares of the company's stock worth $48,485,000 after purchasing an additional 689,701 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

Wall Street Analysts Forecast Growth

NVT has been the topic of a number of research reports. Barclays raised their price objective on nVent Electric from $65.00 to $70.00 and gave the company an "overweight" rating in a report on Monday. Royal Bank of Canada boosted their price target on shares of nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a research report on Monday. The Goldman Sachs Group cut their price objective on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Seaport Res Ptn upgraded nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. Finally, CL King raised nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price target for the company in a report on Monday, March 17th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, nVent Electric presently has a consensus rating of "Buy" and a consensus target price of $70.00.

nVent Electric Trading Up 0.7 %

NVT traded up $0.42 on Friday, hitting $61.16. The company had a trading volume of 586,673 shares, compared to its average volume of 1,910,880. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The firm has a market cap of $10.07 billion, a P/E ratio of 31.20, a PEG ratio of 1.48 and a beta of 1.24. The company's fifty day moving average price is $53.73 and its 200 day moving average price is $65.01. 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 data 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. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. The firm had revenue of $809.30 million during the quarter, compared to analysts' expectations of $790.74 million. During the same quarter last year, the company posted $0.78 EPS. The firm's quarterly revenue was up 10.5% on a year-over-year basis. As a group, equities analysts expect that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric's dividend payout ratio is currently 22.86%.

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.