Essex Investment Management Co. LLC Sells 1,179 Shares of nVent Electric plc (NYSE:NVT)

Essex Investment Management Co. LLC lessened its stake in shares of nVent Electric plc (NYSE:NVT) by 58.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 842 shares of the company’s stock after selling 1,179 shares during the period. Essex Investment Management Co. LLC’s holdings in nVent Electric were worth $57,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in NVT. Janney Montgomery Scott LLC boosted its position in shares of nVent Electric by 5.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 24,807 shares of the company’s stock worth $1,743,000 after purchasing an additional 1,273 shares in the last quarter. Mayflower Financial Advisors LLC raised its holdings in shares of nVent Electric by 18.3% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 5,026 shares of the company’s stock worth $353,000 after acquiring an additional 777 shares during the last quarter. Aptus Capital Advisors LLC raised its holdings in shares of nVent Electric by 14.7% in the 3rd quarter. Aptus Capital Advisors LLC now owns 61,432 shares of the company’s stock worth $4,316,000 after acquiring an additional 7,882 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of nVent Electric by 374.4% in the 3rd quarter. Victory Capital Management Inc. now owns 161,954 shares of the company’s stock worth $11,379,000 after acquiring an additional 127,813 shares during the last quarter. Finally, Haverford Trust Co raised its holdings in shares of nVent Electric by 3.5% in the 3rd quarter. Haverford Trust Co now owns 548,608 shares of the company’s stock worth $38,545,000 after acquiring an additional 18,718 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

nVent Electric Trading Down 2.7 %

NYSE:NVT opened at $53.60 on Tuesday. 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 $8.85 billion, a price-to-earnings ratio of 27.35, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. nVent Electric plc has a 52 week low of $51.99 and a 52 week high of $86.57. The firm has a 50-day moving average price of $66.06 and a two-hundred day moving average price of $69.69.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.59 EPS 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, equities analysts expect that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.49%. nVent Electric’s payout ratio is currently 40.82%.

Analysts Set New Price Targets

A number of research firms recently weighed in on NVT. Citigroup lowered their target price 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 target price on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Barclays lowered their target price on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company 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.