Johnson Investment Counsel Inc. Has $107.42 Million Position in nVent Electric plc (NYSE:NVT)

Johnson Investment Counsel Inc. lifted its stake in nVent Electric plc (NYSE:NVT) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,576,002 shares of the company’s stock after acquiring an additional 42,943 shares during the quarter. nVent Electric makes up 1.0% of Johnson Investment Counsel Inc.’s portfolio, making the stock its 24th biggest holding. Johnson Investment Counsel Inc. owned 0.96% of nVent Electric worth $107,420,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Janney Montgomery Scott LLC raised its stake in shares of nVent Electric by 5.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 24,807 shares of the company’s stock worth $1,743,000 after purchasing an additional 1,273 shares in the last quarter. Mayflower Financial Advisors LLC lifted its position in shares of nVent Electric by 18.3% in the third quarter. Mayflower Financial Advisors LLC now owns 5,026 shares of the company’s stock worth $353,000 after buying an additional 777 shares during the last quarter. Aptus Capital Advisors LLC lifted its stake in shares of nVent Electric by 14.7% in the third quarter. Aptus Capital Advisors LLC now owns 61,432 shares of the company’s stock worth $4,316,000 after buying an additional 7,882 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in nVent Electric by 374.4% during the third quarter. Victory Capital Management Inc. now owns 161,954 shares of the company’s stock valued at $11,379,000 after acquiring an additional 127,813 shares during the period. Finally, Haverford Trust Co lifted its position in shares of nVent Electric by 3.5% during the 3rd quarter. Haverford Trust Co now owns 548,608 shares of the company’s stock worth $38,545,000 after purchasing an additional 18,718 shares during the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NVT has been the topic of several recent analyst reports. Barclays dropped their price target on nVent Electric from $88.00 to $83.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Citigroup cut their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Royal Bank of Canada raised their price target on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $85.50.

nVent Electric Trading Down 0.9 %

Shares of NVT stock opened at $55.02 on Monday. The firm has a fifty day moving average of $66.36 and a 200-day moving average of $69.77. The stock has a market cap of $9.08 billion, a price-to-earnings ratio of 28.07, a P/E/G ratio of 1.48 and a beta of 1.31. nVent Electric plc has a 52-week low of $52.78 and a 52-week high of $86.57. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73.

nVent Electric (NYSE:NVT) last posted its quarterly 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%. On average, equities research analysts forecast that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business also recently disclosed 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 of this dividend is Friday, April 25th. This represents a $0.80 annualized dividend and a yield of 1.45%. nVent Electric’s dividend payout ratio is currently 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.