NewEdge Advisors LLC Has $1.60 Million Stock Holdings in nVent Electric plc (NYSE:NVT)

NewEdge Advisors LLC boosted its holdings in nVent Electric plc (NYSE:NVT) by 1,010.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,505 shares of the company’s stock after buying an additional 21,389 shares during the period. NewEdge Advisors LLC’s holdings in nVent Electric were worth $1,602,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its position in shares of nVent Electric by 4.1% during the fourth quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company’s stock worth $259,000 after purchasing an additional 150 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of nVent Electric by 26.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock worth $53,000 after buying an additional 162 shares during the last quarter. Calamos Advisors LLC boosted its position in nVent Electric by 1.6% during the fourth quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock valued at $782,000 after purchasing an additional 176 shares during the last quarter. Keybank National Association OH boosted its holdings in shares of nVent Electric by 2.5% in the 4th quarter. Keybank National Association OH now owns 9,509 shares of the company’s stock valued at $648,000 after buying an additional 229 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in nVent Electric by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 5,078 shares of the company’s stock valued at $346,000 after acquiring an additional 255 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. The Goldman Sachs Group reduced their target price on nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Royal Bank of Canada increased their target price on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Citigroup decreased their price target on nVent Electric from $85.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. KeyCorp lowered their price objective on shares of nVent Electric from $75.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Monday, March 17th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $69.00.

nVent Electric Price Performance

Shares of NYSE:NVT opened at $52.30 on Thursday. The firm has a market cap of $8.61 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. nVent Electric plc has a 52 week low of $41.71 and a 52 week high of $86.57. The firm’s fifty day moving average is $54.93 and its 200-day moving average is $66.22. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73.

nVent Electric (NYSE:NVT) last announced its earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. Sell-side analysts predict 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. Shareholders of record on Friday, April 25th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 annualized dividend and a yield of 1.53%. nVent Electric’s payout ratio is 40.82%.

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.