FIL Ltd Increases Stake in nVent Electric plc (NYSE:NVT)

FIL Ltd boosted its stake in nVent Electric plc (NYSE:NVT) by 232.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 597,190 shares of the company’s stock after buying an additional 417,649 shares during the period. FIL Ltd owned 0.36% of nVent Electric worth $40,704,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new stake in shares of nVent Electric during the third quarter valued at approximately $583,000. Public Employees Retirement System of Ohio bought a new stake in shares of nVent Electric during the 3rd quarter valued at $6,900,000. Geode Capital Management LLC boosted its holdings in shares of nVent Electric by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock valued at $194,894,000 after buying an additional 29,794 shares in the last quarter. World Investment Advisors LLC purchased a new stake in shares of nVent Electric in the 3rd quarter worth about $314,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in nVent Electric during the 3rd quarter valued at about $124,000. 90.05% of the stock is owned by institutional investors.

nVent Electric Trading Down 4.9 %

nVent Electric stock opened at $49.31 on Friday. nVent Electric plc has a one year low of $41.71 and a one year high of $86.57. The business’s fifty day moving average is $57.90 and its 200 day moving average is $67.41. The stock has a market capitalization of $8.14 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, meeting 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, sell-side analysts predict 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. Stockholders of record on Friday, April 25th will be issued 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 dividend yield of 1.62%. nVent Electric’s payout ratio is 40.82%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NVT shares. Citigroup cut their price objective on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Royal Bank of Canada upped their price target on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Barclays lowered their price objective on nVent Electric from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday. The Goldman Sachs Group cut their target price on nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Finally, Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, nVent Electric has an average rating of “Buy” and a consensus target price of $74.17.

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.