Essex Investment Management Co. LLC Has $57,000 Stock Position in nVent Electric plc (NYSE:NVT)

Essex Investment Management Co. LLC reduced its position in shares of nVent Electric plc (NYSE:NVT) by 58.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 842 shares of the company’s stock after selling 1,179 shares during the period. Essex Investment Management Co. LLC’s holdings in nVent Electric were worth $57,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. HM Payson & Co. increased its holdings in shares of nVent Electric by 38.6% during the fourth quarter. HM Payson & Co. now owns 607,461 shares of the company’s stock worth $41,405,000 after buying an additional 169,075 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of nVent Electric by 11.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 43,424 shares of the company’s stock worth $2,960,000 after buying an additional 4,387 shares in the last quarter. Edgestream Partners L.P. increased its holdings in shares of nVent Electric by 461.7% during the fourth quarter. Edgestream Partners L.P. now owns 35,717 shares of the company’s stock worth $2,434,000 after buying an additional 29,358 shares in the last quarter. Inceptionr LLC increased its holdings in shares of nVent Electric by 20.1% during the fourth quarter. Inceptionr LLC now owns 13,594 shares of the company’s stock worth $927,000 after buying an additional 2,271 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of nVent Electric during the fourth quarter worth $13,333,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

nVent Electric Stock Performance

Shares of nVent Electric stock opened at $53.60 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. nVent Electric plc has a twelve month low of $51.99 and a twelve month high of $86.57. The stock has a market cap of $8.85 billion, a price-to-earnings ratio of 27.35, a P/E/G ratio of 1.48 and a beta of 1.31. The company’s fifty day moving average is $66.06 and its 200 day moving average is $69.69.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.59 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%. Sell-side analysts forecast that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a yield of 1.49%. nVent Electric’s dividend payout ratio (DPR) is currently 40.82%.

Analyst Upgrades and Downgrades

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

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.