Pictet Asset Management Holding SA Purchases 689,701 Shares of nVent Electric plc (NYSE:NVT)

Pictet Asset Management Holding SA increased its position in nVent Electric plc (NYSE:NVT) by 3,186.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 711,343 shares of the company’s stock after buying an additional 689,701 shares during the quarter. Pictet Asset Management Holding SA owned 0.43% of nVent Electric worth $48,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of NVT. Duff & Phelps Investment Management Co. purchased a new position in shares of nVent Electric during the fourth quarter worth approximately $375,000. New Age Alpha Advisors LLC bought a new position in shares of nVent Electric during the 4th quarter valued at $2,440,000. Easterly Investment Partners LLC lifted its stake in nVent Electric by 11.8% in the fourth quarter. Easterly Investment Partners LLC now owns 84,454 shares of the company’s stock worth $5,756,000 after purchasing an additional 8,884 shares during the last quarter. Norges Bank purchased a new stake in nVent Electric during the fourth quarter valued at about $197,434,000. Finally, NEOS Investment Management LLC bought a new position in shares of nVent Electric during the fourth quarter valued at about $462,000. Institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Performance

NYSE:NVT opened at $52.89 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The firm’s fifty day simple moving average is $62.19 and its 200 day simple moving average is $68.80. The stock has a market cap of $8.73 billion, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. nVent Electric plc has a twelve month low of $51.99 and a twelve month high of $86.57.

nVent Electric (NYSE:NVT) last announced its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share 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%. As a group, research analysts predict that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s dividend payout ratio is currently 40.82%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Citigroup lowered their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Monday, March 17th. Barclays cut their target price on shares of nVent Electric from $83.00 to $75.00 and set an “overweight” rating on the stock in a report on Wednesday. KeyCorp lowered their price target on shares of nVent Electric from $84.00 to $75.00 and set an “overweight” rating for the company in a report on Friday. Finally, Seaport Res Ptn raised shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a report on Friday, March 21st. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $80.50.

nVent Electric 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.