nVent Electric plc (NYSE:NVT) Stake Increased by HM Payson & Co.

HM Payson & Co. increased its stake in nVent Electric plc (NYSE:NVT) by 38.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 607,461 shares of the company’s stock after buying an additional 169,075 shares during the period. HM Payson & Co. owned about 0.37% of nVent Electric worth $41,405,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in nVent Electric by 11.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 43,424 shares of the company’s stock valued at $2,960,000 after purchasing an additional 4,387 shares during the last quarter. Edgestream Partners L.P. lifted its holdings in nVent Electric by 461.7% in the fourth quarter. Edgestream Partners L.P. now owns 35,717 shares of the company’s stock worth $2,434,000 after purchasing an additional 29,358 shares during the period. Inceptionr LLC lifted its holdings in nVent Electric by 20.1% in the fourth quarter. Inceptionr LLC now owns 13,594 shares of the company’s stock worth $927,000 after purchasing an additional 2,271 shares during the period. Raymond James Financial Inc. bought a new stake in nVent Electric in the fourth quarter worth about $13,333,000. Finally, Arizona State Retirement System raised its position in nVent Electric by 0.9% in the fourth quarter. Arizona State Retirement System now owns 48,238 shares of the company’s stock worth $3,288,000 after acquiring an additional 434 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NVT. Barclays lowered their price target on nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Citigroup cut their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Royal Bank of Canada increased their price target on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nVent Electric has an average rating of “Buy” and a consensus target price of $85.50.

nVent Electric Stock Performance

NVT stock opened at $55.02 on Friday. nVent Electric plc has a 52 week low of $52.78 and a 52 week high of $86.57. The stock has a market cap of $9.08 billion, a P/E ratio of 28.07, a P/E/G ratio of 1.48 and a beta of 1.31. 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 firm has a 50 day simple moving average of $66.36 and a 200 day simple moving average of $69.71.

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

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.45%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio is presently 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.