Smartleaf Asset Management LLC Increases Position in nVent Electric plc (NYSE:NVT)

Smartleaf Asset Management LLC grew its stake in nVent Electric plc (NYSE:NVT) by 25.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,283 shares of the company’s stock after acquiring an additional 264 shares during the quarter. Smartleaf Asset Management LLC’s holdings in nVent Electric were worth $88,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Larson Financial Group LLC increased its holdings 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 valued at $27,000 after acquiring an additional 181 shares during the period. Crews Bank & Trust purchased a new position in nVent Electric during the 4th quarter worth $26,000. Huntington National Bank grew its stake in nVent Electric by 57.3% during the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after buying an additional 223 shares during the last quarter. Brooklyn Investment Group purchased a new position in nVent Electric during the 3rd quarter worth $44,000. Finally, Tsfg LLC purchased a new position in nVent Electric during the 4th quarter worth $51,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NVT has been the topic of several research analyst reports. 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 note on Friday, February 7th. Barclays dropped their target price 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. Finally, Citigroup dropped their price target on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $85.50.

nVent Electric Stock Down 0.9 %

nVent Electric stock opened at $55.02 on Friday. 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 business’s 50-day simple moving average is $66.36 and its two-hundred day simple moving average is $69.74. The company has a market cap of $9.08 billion, a PE ratio of 28.07, a PEG ratio of 1.48 and a beta of 1.31. nVent Electric plc has a fifty-two week low of $52.78 and a fifty-two week high of $86.57.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. Equities analysts anticipate that nVent Electric plc will post 3.04 EPS 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 issued 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 1.45%. nVent Electric’s dividend payout ratio (DPR) is presently 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.