nVent Electric plc (NYSE:NVT) Shares Purchased by Jones Financial Companies Lllp

Jones Financial Companies Lllp boosted its holdings in nVent Electric plc (NYSE:NVT) by 109.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,303 shares of the company’s stock after buying an additional 680 shares during the period. Jones Financial Companies Lllp’s holdings in nVent Electric were worth $89,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NVT. Crews Bank & Trust acquired a new stake in nVent Electric in the 4th quarter worth about $26,000. Larson Financial Group LLC raised 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 worth $27,000 after purchasing an additional 181 shares during the period. Huntington National Bank raised its holdings in shares of nVent Electric by 57.3% in the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after purchasing an additional 223 shares during the period. Brooklyn Investment Group purchased a new position in shares of nVent Electric in the 3rd quarter worth about $44,000. Finally, Tsfg LLC purchased a new position in shares of nVent Electric in the 4th quarter worth about $51,000. 90.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NVT. Citigroup cut their price objective on 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 raised their price objective on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Barclays cut 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. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $86.00.

nVent Electric Price Performance

NVT stock opened at $56.84 on Monday. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. nVent Electric plc has a 52-week low of $51.99 and a 52-week high of $86.57. The stock’s 50 day moving average is $64.98 and its two-hundred day moving average is $69.38. The company has a market capitalization of $9.38 billion, a PE ratio of 29.00, a P/E/G ratio of 1.48 and a beta of 1.31.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data 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 return on equity of 14.52% and a net margin of 10.09%. Analysts predict that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be given 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 1.41%. nVent Electric’s payout ratio is 40.82%.

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.