Pictet Asset Management Holding SA Increases Position in nVent Electric plc (NYSE:NVT)

Pictet Asset Management Holding SA grew its holdings in shares of nVent Electric plc (NYSE:NVT) by 3,186.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 711,343 shares of the company’s stock after purchasing an additional 689,701 shares during the period. Pictet Asset Management Holding SA’s holdings in nVent Electric were worth $48,485,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB raised its stake in nVent Electric by 26.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock valued at $53,000 after buying an additional 162 shares during the last quarter. Calamos Advisors LLC raised its position in shares of nVent Electric by 1.6% in the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock worth $782,000 after purchasing an additional 176 shares during the last quarter. Larson Financial Group LLC raised its position in shares of nVent Electric by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the last quarter. Keybank National Association OH boosted its stake in nVent Electric by 2.5% in the 4th quarter. Keybank National Association OH now owns 9,509 shares of the company’s stock worth $648,000 after purchasing an additional 229 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in nVent Electric by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 5,078 shares of the company’s stock valued at $346,000 after purchasing an additional 255 shares in the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NVT shares. CL King upgraded 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. Barclays cut their target price on nVent Electric from $83.00 to $75.00 and set an “overweight” rating on the stock in a research note on Wednesday. Citigroup decreased their price target on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. KeyCorp dropped their price objective on nVent Electric from $84.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Royal Bank of Canada boosted their target price on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $80.50.

nVent Electric Stock Performance

Shares of NYSE NVT opened at $52.89 on Friday. nVent Electric plc has a 12-month low of $51.99 and a 12-month high of $86.57. The firm has a market capitalization of $8.73 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. 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 firm has a 50 day moving average of $62.19 and a 200 day moving average of $68.80.

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

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.51%. nVent Electric’s 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.