nVent Electric plc (NYSE:NVT) Shares Acquired by HM Payson & Co.

HM Payson & Co. grew its holdings in shares of nVent Electric plc (NYSE:NVT) by 38.6% during the fourth quarter, Holdings Channel reports. The firm owned 607,461 shares of the company’s stock after acquiring an additional 169,075 shares during the quarter. HM Payson & Co.’s holdings in nVent Electric were worth $41,405,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of NVT. Nordea Investment Management AB grew its holdings in nVent Electric by 16.9% during the fourth quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock valued at $6,378,000 after purchasing an additional 13,483 shares during the last quarter. Geode Capital Management LLC raised its stake 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 worth $194,894,000 after purchasing an additional 29,794 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of nVent Electric during the 4th quarter worth approximately $1,520,000. TT International Asset Management LTD grew its holdings in shares of nVent Electric by 20.4% during the 4th quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock worth $7,388,000 after purchasing an additional 18,376 shares in the last quarter. Finally, LVM Capital Management Ltd. MI lifted its position in shares of nVent Electric by 8.1% during the 4th quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock worth $10,307,000 after buying an additional 11,349 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

Analysts Set New Price Targets

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

nVent Electric Trading Down 0.9 %

Shares of nVent Electric stock opened at $55.02 on Friday. nVent Electric plc has a 12-month low of $52.78 and a 12-month high of $86.57. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The stock has a market cap of $9.08 billion, a PE ratio of 28.07, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. The company has a 50-day moving average of $66.36 and a two-hundred day moving average of $69.71.

nVent Electric (NYSE:NVT) last released its quarterly earnings results 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 net margin of 10.09% and a return on equity of 14.52%. On average, research analysts anticipate that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s dividend payout ratio is currently 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.