Johnson Investment Counsel Inc. Acquires 42,943 Shares of nVent Electric plc (NYSE:NVT)

Johnson Investment Counsel Inc. raised its holdings in nVent Electric plc (NYSE:NVT) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,576,002 shares of the company’s stock after purchasing an additional 42,943 shares during the quarter. nVent Electric makes up about 1.0% of Johnson Investment Counsel Inc.’s investment portfolio, making the stock its 24th largest position. Johnson Investment Counsel Inc.’s holdings in nVent Electric were worth $107,420,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of NVT. Franklin Resources Inc. raised its holdings in shares of nVent Electric by 22.1% in the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after buying an additional 1,269,335 shares during the last quarter. State Street Corp increased its position in nVent Electric by 0.9% in the 3rd quarter. State Street Corp now owns 5,031,623 shares of the company’s stock valued at $353,522,000 after acquiring an additional 42,465 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of nVent Electric by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after acquiring an additional 29,794 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of nVent Electric by 23.6% during the third quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock worth $171,492,000 after purchasing an additional 466,042 shares in the last quarter. Finally, Clean Energy Transition LLP grew its stake in shares of nVent Electric by 56.5% during the third quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock valued at $158,411,000 after purchasing an additional 813,909 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Trading Down 0.9 %

Shares of NYSE NVT opened at $55.02 on Monday. nVent Electric plc has a fifty-two week low of $52.78 and a fifty-two week high of $86.57. The firm has a market capitalization of $9.08 billion, a P/E ratio of 28.07, a P/E/G ratio of 1.48 and a beta of 1.31. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The company’s 50 day simple moving average is $66.36 and its 200 day simple moving average is $69.77.

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

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is currently 40.82%.

Wall Street Analyst Weigh In

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

nVent Electric Company 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.