nVent Electric plc (NYSE:NVT) Shares Bought by Flputnam Investment Management Co.

Flputnam Investment Management Co. increased its position in nVent Electric plc (NYSE:NVT) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,286 shares of the company’s stock after acquiring an additional 590 shares during the period. Flputnam Investment Management Co.’s holdings in nVent Electric were worth $3,087,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NVT. Franklin Resources Inc. grew its holdings in nVent Electric by 22.1% in the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after purchasing an additional 1,269,335 shares during the last quarter. State Street Corp grew its stake in nVent Electric by 0.9% in the 3rd quarter. State Street Corp now owns 5,031,623 shares of the company’s stock valued at $353,522,000 after acquiring an additional 42,465 shares during the last quarter. Geode Capital Management LLC increased its holdings in nVent Electric by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock valued at $194,894,000 after acquiring an additional 29,794 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of nVent Electric by 23.6% in the third quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock valued at $171,492,000 after purchasing an additional 466,042 shares in the last quarter. Finally, Clean Energy Transition LLP grew its position in shares of nVent Electric by 56.5% in the third quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock valued at $158,411,000 after purchasing an additional 813,909 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NVT. Royal Bank of Canada upped their target price on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Barclays upped their price objective on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, Citigroup dropped their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $86.33.

nVent Electric Trading Up 0.5 %

Shares of nVent Electric stock opened at $60.25 on Friday. The firm has a market cap of $9.94 billion, a PE ratio of 30.74, a P/E/G ratio of 1.48 and a beta of 1.26. 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 plc has a fifty-two week low of $56.44 and a fifty-two week high of $86.57. The business’s fifty day moving average is $67.75 and its two-hundred day moving average is $70.10.

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

nVent Electric Announces Dividend

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 paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio is currently 40.82%.

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.