Envestnet Asset Management Inc. Sells 109,772 Shares of nVent Electric plc (NYSE:NVT)

Envestnet Asset Management Inc. decreased its position in shares of nVent Electric plc (NYSE:NVT) by 19.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 467,326 shares of the company’s stock after selling 109,772 shares during the quarter. Envestnet Asset Management Inc. owned about 0.28% of nVent Electric worth $31,853,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Huntington National Bank increased its stake in nVent Electric by 60.9% during the 4th quarter. Huntington National Bank now owns 985 shares of the company’s stock valued at $67,000 after purchasing an additional 373 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of nVent Electric by 11.6% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,273 shares of the company’s stock worth $223,000 after acquiring an additional 341 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of nVent Electric by 5.2% during the fourth quarter. Clearbridge Investments LLC now owns 779,967 shares of the company’s stock worth $53,163,000 after acquiring an additional 38,891 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of nVent Electric by 3.3% in the 4th quarter. Schroder Investment Management Group now owns 937,437 shares of the company’s stock worth $63,896,000 after acquiring an additional 30,032 shares during the last quarter. Finally, Intrust Bank NA lifted its position in nVent Electric by 19.2% in the 4th quarter. Intrust Bank NA now owns 4,719 shares of the company’s stock valued at $322,000 after acquiring an additional 760 shares in the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Price Performance

NVT opened at $49.73 on Friday. nVent Electric plc has a fifty-two week low of $41.71 and a fifty-two week high of $86.57. The firm has a 50-day moving average of $57.63 and a 200 day moving average of $67.28. 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 market cap of $8.19 billion, a P/E ratio of 25.37, a PEG ratio of 1.48 and a beta of 1.21.

nVent Electric (NYSE:NVT) last released 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%. On average, research analysts expect that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.61%. nVent Electric’s payout ratio is presently 40.82%.

Analysts Set New Price Targets

Several analysts have recently commented on NVT shares. The Goldman Sachs Group lowered their price objective on nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. 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 research report on Friday, February 7th. CL King raised shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Monday, March 17th. Citigroup lowered their target price 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. Finally, Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a report on Friday, March 21st. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target 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.