American Century Companies Inc. Buys 12,759 Shares of nVent Electric plc (NYSE:NVT)

American Century Companies Inc. increased its stake in shares of nVent Electric plc (NYSE:NVT) by 20.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,262 shares of the company’s stock after purchasing an additional 12,759 shares during the quarter. American Century Companies Inc.’s holdings in nVent Electric were worth $5,062,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NVT. Crews Bank & Trust purchased a new stake in shares of nVent Electric during the fourth quarter valued at about $26,000. Tsfg LLC purchased a new stake in nVent Electric during the fourth quarter valued at approximately $51,000. Raleigh Capital Management Inc. boosted its stake in 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. MassMutual Private Wealth & Trust FSB boosted its stake in nVent Electric by 26.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock valued at $53,000 after acquiring an additional 162 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in nVent Electric by 243.5% in the fourth quarter. Blue Trust Inc. now owns 869 shares of the company’s stock worth $61,000 after purchasing an additional 616 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

nVent Electric Trading Down 6.3 %

nVent Electric stock opened at $45.28 on Friday. nVent Electric plc has a 52 week low of $41.90 and a 52 week high of $86.57. The stock has a 50-day moving average price of $59.82 and a 200 day moving average price of $68.29. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $7.47 billion, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21.

nVent Electric (NYSE:NVT) last released its quarterly earnings data 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%. Sell-side analysts anticipate that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.77%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio is currently 40.82%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a report on Monday, March 17th. Citigroup cut their price objective on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Barclays lowered their target price on shares of nVent Electric from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Friday. Finally, KeyCorp cut their price target on shares of nVent Electric from $84.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $77.50.

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.