3,492 Shares in nVent Electric plc (NYSE:NVT) Acquired by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. purchased a new stake in shares of nVent Electric plc (NYSE:NVT) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 3,492 shares of the company’s stock, valued at approximately $238,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NVT. Crews Bank & Trust bought a new stake in shares of nVent Electric in the fourth quarter valued at approximately $26,000. Larson Financial Group LLC raised its stake in nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares in the last quarter. Huntington National Bank raised its stake in nVent Electric by 57.3% during the third quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after acquiring an additional 223 shares in the last quarter. Brooklyn Investment Group acquired a new position in nVent Electric during the third quarter worth $44,000. Finally, Tsfg LLC acquired a new position in nVent Electric during the fourth quarter worth $51,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NVT. Barclays lowered their target price on nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a research note on Monday. Citigroup lowered their price objective on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Royal Bank of Canada upped their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, nVent Electric presently has an average rating of “Buy” and an average price target of $85.50.

nVent Electric Stock Down 6.7 %

NYSE NVT opened at $56.31 on Tuesday. The company has a 50 day moving average of $67.49 and a 200-day moving average of $70.06. The company has a market cap of $9.29 billion, a price-to-earnings ratio of 28.73, a PEG ratio of 1.48 and a beta of 1.26. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. nVent Electric plc has a 1-year low of $55.69 and a 1-year high of $86.57.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. On average, equities research analysts expect that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be paid 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 payout ratio is presently 40.82%.

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.