nVent Electric plc (NYSE:NVT) Shares Acquired by LPL Financial LLC

LPL Financial LLC boosted its holdings in nVent Electric plc (NYSE:NVT) by 12.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 140,043 shares of the company’s stock after buying an additional 15,685 shares during the quarter. LPL Financial LLC owned 0.08% of nVent Electric worth $9,545,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Optimum Investment Advisors purchased a new position in shares of nVent Electric in the fourth quarter worth approximately $115,000. KLP Kapitalforvaltning AS purchased a new position in nVent Electric during the 4th quarter worth approximately $2,283,000. Sei Investments Co. raised its stake in nVent Electric by 53.7% during the 4th quarter. Sei Investments Co. now owns 170,899 shares of the company’s stock valued at $11,649,000 after purchasing an additional 59,684 shares during the period. American Century Companies Inc. lifted its holdings in shares of nVent Electric by 20.7% in the fourth quarter. American Century Companies Inc. now owns 74,262 shares of the company’s stock valued at $5,062,000 after purchasing an additional 12,759 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of nVent Electric in the fourth quarter worth $379,000. Institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Down 6.3 %

NVT stock opened at $45.28 on Friday. The firm has a market cap of $7.47 billion, a PE ratio of 23.10, a PEG ratio of 1.48 and a beta of 1.21. nVent Electric plc has a 1 year low of $41.90 and a 1 year high of $86.57. The company has a fifty day simple moving average of $59.82 and a 200 day simple moving average of $68.29. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.59 EPS for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. Sell-side analysts anticipate that nVent Electric plc will post 3.04 EPS for the current fiscal 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 paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s payout ratio is 40.82%.

Analyst Ratings Changes

NVT has been the subject of several research analyst reports. Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Barclays decreased their price target on shares of nVent Electric from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Friday. The Goldman Sachs Group dropped their price objective on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday. Royal Bank of Canada lifted their target price on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, CL King raised shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Monday, March 17th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, nVent Electric has a consensus rating of “Buy” and an average price target of $77.50.

About nVent Electric

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.