Raymond James Financial Inc. Invests $13.33 Million in nVent Electric plc (NYSE:NVT)

Raymond James Financial Inc. purchased a new position in nVent Electric plc (NYSE:NVT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 195,619 shares of the company’s stock, valued at approximately $13,333,000. Raymond James Financial Inc. owned 0.12% of nVent Electric as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of NVT. Crews Bank & Trust purchased a new stake in shares of nVent Electric in the fourth quarter worth approximately $26,000. Larson Financial Group LLC grew its stake in nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares in the last quarter. Huntington National Bank grew its stake in nVent Electric by 57.3% in the third quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after purchasing an additional 223 shares in the last quarter. Brooklyn Investment Group bought a new position in nVent Electric in the third quarter worth approximately $44,000. Finally, Tsfg LLC bought a new position in nVent Electric in the fourth quarter worth approximately $51,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Stock Up 2.5 %

Shares of NYSE NVT opened at $56.87 on Thursday. 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 stock has a market capitalization of $9.38 billion, a PE ratio of 29.01, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. The stock’s fifty day simple moving average is $64.13 and its two-hundred day simple moving average is $69.14. nVent Electric plc has a 12-month low of $51.99 and a 12-month high of $86.57.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share 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 fiscal year.

nVent Electric Announces Dividend

The firm 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 of this dividend is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.41%. nVent Electric’s payout ratio is 40.82%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NVT. Citigroup dropped their price objective 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. CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Monday. Barclays dropped their price objective 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, Royal Bank of Canada increased their target price on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nVent Electric presently has an average rating of “Buy” and an average target price of $83.33.

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.