Voya Investment Management LLC Reduces Stake in nVent Electric plc (NYSE:NVT)

Voya Investment Management LLC cut its position in nVent Electric plc (NYSE:NVT - Free Report) by 37.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 460,032 shares of the company's stock after selling 281,040 shares during the quarter. Voya Investment Management LLC owned 0.28% of nVent Electric worth $31,356,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Coppell Advisory Solutions LLC boosted its stake in shares of nVent Electric by 237.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,246 shares of the company's stock valued at $85,000 after purchasing an additional 877 shares during the last quarter. Hood River Capital Management LLC purchased a new position in nVent Electric in the fourth quarter valued at approximately $367,000. MGO One Seven LLC lifted its position in shares of nVent Electric by 72.9% during the fourth quarter. MGO One Seven LLC now owns 9,623 shares of the company's stock worth $656,000 after acquiring an additional 4,058 shares in the last quarter. Dark Forest Capital Management LP bought a new position in shares of nVent Electric in the fourth quarter worth $1,279,000. Finally, Greenhouse Funds LLLP increased its stake in nVent Electric by 0.5% in the fourth quarter. Greenhouse Funds LLLP now owns 113,377 shares of the company's stock valued at $7,728,000 after acquiring an additional 588 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NVT has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their target price 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 research note on Monday, April 14th. KeyCorp decreased their price target on shares of nVent Electric from $75.00 to $60.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. 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. Finally, The Goldman Sachs Group dropped their target price on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Six equities 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 a consensus rating of "Buy" and an average target price of $69.00.

nVent Electric Stock Performance

Shares of NYSE NVT traded up $1.35 during mid-day trading on Thursday, hitting $56.26. The stock had a trading volume of 1,598,847 shares, compared to its average volume of 1,905,740. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The company has a 50 day moving average of $53.72 and a two-hundred day moving average of $65.63. nVent Electric plc has a twelve month low of $41.71 and a twelve month high of $86.57. The firm has a market cap of $9.26 billion, a PE ratio of 28.71, a PEG ratio of 1.48 and a beta of 1.21.

nVent Electric (NYSE:NVT - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. Research analysts predict that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.42%. nVent Electric's dividend payout ratio is currently 40.82%.

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.