Proficio Capital Partners LLC Invests $3.99 Million in nVent Electric plc (NYSE:NVT)

Proficio Capital Partners LLC bought a new position in shares of nVent Electric plc (NYSE:NVT) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 58,481 shares of the company’s stock, valued at approximately $3,986,000.

Several other hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB increased its position in nVent Electric by 16.9% during the 4th quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock worth $6,378,000 after buying an additional 13,483 shares during the period. Geode Capital Management LLC grew 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 valued at $194,894,000 after acquiring an additional 29,794 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in nVent Electric during the fourth quarter worth about $1,520,000. TT International Asset Management LTD increased its position in nVent Electric by 20.4% during the fourth quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock worth $7,388,000 after acquiring an additional 18,376 shares during the period. Finally, LVM Capital Management Ltd. MI raised its stake in nVent Electric by 8.1% in the 4th quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock worth $10,307,000 after purchasing an additional 11,349 shares in the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Stock Performance

Shares of NYSE:NVT opened at $56.72 on Tuesday. nVent Electric plc has a 1 year low of $51.99 and a 1 year high of $86.57. The stock has a market capitalization of $9.36 billion, a price-to-earnings ratio of 28.94, a price-to-earnings-growth 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 $64.69 and its 200 day simple moving average is $69.31.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results 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%. As a group, research analysts predict that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.41%. The ex-dividend date is Friday, April 25th. nVent Electric’s payout ratio is 40.82%.

Wall Street Analyst Weigh In

NVT has been the topic of a number of analyst reports. Royal Bank of Canada increased their target price 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. Barclays reduced their price target on nVent Electric from $88.00 to $83.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Monday. Finally, Citigroup reduced their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, nVent Electric presently has an average rating of “Buy” and a consensus price target of $83.33.

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.