Hood River Capital Management LLC Takes $367,000 Position in nVent Electric plc (NYSE:NVT)

Hood River Capital Management LLC acquired a new position in nVent Electric plc (NYSE:NVT) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 5,386 shares of the company’s stock, valued at approximately $367,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB grew its position in nVent Electric by 16.9% in the fourth quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock worth $6,378,000 after buying an additional 13,483 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of nVent Electric during the 4th quarter worth $1,520,000. TT International Asset Management LTD grew its holdings in shares of nVent Electric by 20.4% in the 4th quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock worth $7,388,000 after acquiring an additional 18,376 shares during the last quarter. LVM Capital Management Ltd. MI raised its position in shares of nVent Electric by 8.1% during the fourth quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock worth $10,307,000 after purchasing an additional 11,349 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in shares of nVent Electric by 12.4% during the fourth quarter. Pacer Advisors Inc. now owns 55,790 shares of the company’s stock valued at $3,803,000 after purchasing an additional 6,175 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NVT. Citigroup dropped their price target on nVent Electric from $85.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a report on Friday, March 21st. The Goldman Sachs Group decreased their price objective on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. CL King raised shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Monday, March 17th. Finally, Barclays decreased their target price on nVent Electric from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Six equities research 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 has an average rating of “Buy” and a consensus target price of $69.00.

nVent Electric Stock Up 4.1 %

NVT stock opened at $52.30 on Thursday. The company has a 50 day moving average of $54.93 and a two-hundred day moving average of $66.22. The company has a market cap of $8.61 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 1.48 and a beta of 1.21. nVent Electric plc has a 12-month low of $41.71 and a 12-month high of $86.57. 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 (NYSE:NVT) last announced its quarterly earnings data 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 return on equity of 14.52% and a net margin of 10.09%. On average, equities analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors 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 1.53%. nVent Electric’s payout ratio is 40.82%.

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.