Amalgamated Bank Sells 1,006 Shares of nVent Electric plc (NYSE:NVT)

Amalgamated Bank trimmed its stake in shares of nVent Electric plc (NYSE:NVT) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,186 shares of the company’s stock after selling 1,006 shares during the quarter. Amalgamated Bank’s holdings in nVent Electric were worth $5,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC grew its holdings in shares of nVent Electric by 1.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 30,973 shares of the company’s stock worth $2,176,000 after purchasing an additional 528 shares during the last quarter. State of Alaska Department of Revenue boosted its position in nVent Electric by 4.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 34,082 shares of the company’s stock valued at $2,393,000 after buying an additional 1,310 shares during the period. First Trust Direct Indexing L.P. grew its holdings in nVent Electric by 52.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,263 shares of the company’s stock worth $370,000 after acquiring an additional 1,800 shares during the last quarter. Diversify Wealth Management LLC increased its position in shares of nVent Electric by 19.6% in the third quarter. Diversify Wealth Management LLC now owns 6,624 shares of the company’s stock valued at $484,000 after acquiring an additional 1,085 shares during the period. Finally, Roubaix Capital LLC bought a new position in shares of nVent Electric during the third quarter valued at about $3,598,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

nVent Electric Trading Down 2.2 %

NYSE NVT opened at $59.87 on Friday. The firm has a market capitalization of $9.88 billion, a PE ratio of 30.55, a P/E/G ratio of 1.48 and a beta of 1.26. The stock’s 50 day moving average is $67.94 and its 200 day moving average is $70.07. nVent Electric plc has a twelve month low of $56.44 and a twelve month high of $86.57. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65.

nVent Electric (NYSE:NVT) last released its earnings results 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 net margin of 10.09% and a return on equity of 14.52%. Research analysts forecast that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business also recently declared 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 is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.34%. nVent Electric’s dividend payout ratio is currently 40.82%.

Analyst Upgrades and Downgrades

NVT has been the topic of several recent analyst reports. Royal Bank of Canada raised their target price on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Citigroup cut their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Barclays upped their target price on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $86.33.

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.