nVent Electric plc (NYSE:NVT) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC raised its stake in shares of nVent Electric plc (NYSE:NVT) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,230 shares of the company’s stock after buying an additional 1,052 shares during the period. HighTower Advisors LLC’s holdings in nVent Electric were worth $2,197,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Crews Bank & Trust bought a new position in shares of nVent Electric in the fourth quarter valued at approximately $26,000. Larson Financial Group LLC boosted its holdings in shares of nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of nVent Electric in the third quarter valued at approximately $44,000. Tsfg LLC bought a new position in shares of nVent Electric in the fourth quarter valued at approximately $51,000. Finally, Raleigh Capital Management Inc. boosted its holdings in shares of nVent Electric by 547.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock valued at $51,000 after acquiring an additional 635 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Stock Up 0.4 %

Shares of NYSE:NVT opened at $57.11 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 company has a market cap of $9.42 billion, a PE ratio of 29.14, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. nVent Electric plc has a 52 week low of $51.99 and a 52 week high of $86.57. The firm has a 50 day simple moving average of $63.63 and a 200 day simple moving average of $69.01.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. As a group, research analysts expect that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors 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 1.40%. nVent Electric’s dividend payout ratio (DPR) is presently 40.82%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a report on Friday. Barclays reduced their target price on shares of 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 shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Citigroup reduced their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a report on Monday, March 17th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently 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.