Victory Capital Management Inc. Sells 131,216 Shares of nVent Electric plc (NYSE:NVT)

Victory Capital Management Inc. cut its holdings in nVent Electric plc (NYSE:NVT) by 81.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,738 shares of the company’s stock after selling 131,216 shares during the period. Victory Capital Management Inc.’s holdings in nVent Electric were worth $2,095,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NVT. Franklin Resources Inc. boosted its position in nVent Electric by 22.1% in the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock worth $527,374,000 after purchasing an additional 1,269,335 shares during the last quarter. State Street Corp boosted its holdings in shares of nVent Electric by 0.9% in the 3rd quarter. State Street Corp now owns 5,031,623 shares of the company’s stock worth $353,522,000 after buying an additional 42,465 shares during the last quarter. Geode Capital Management LLC grew its position in nVent Electric by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock valued at $194,894,000 after buying an additional 29,794 shares during the period. Janus Henderson Group PLC grew its position in nVent Electric by 23.6% during the third quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock valued at $171,492,000 after buying an additional 466,042 shares during the period. Finally, Clean Energy Transition LLP increased its holdings in nVent Electric by 56.5% during the third quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock worth $158,411,000 after buying an additional 813,909 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

nVent Electric Trading Up 0.1 %

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’s fifty day moving average price is $64.69 and its two-hundred day moving average price is $69.31. 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 has a market cap of $9.36 billion, a P/E ratio of 28.94, a P/E/G ratio of 1.48 and a beta of 1.31.

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, hitting analysts’ consensus estimates of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. As a group, analysts expect that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The company 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 $0.20 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.41%. nVent Electric’s dividend payout ratio (DPR) is currently 40.82%.

Analysts Set New Price Targets

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