Avalon Trust Co Buys New Shares in nVent Electric plc (NYSE:NVT)

Avalon Trust Co bought a new stake in shares of nVent Electric plc (NYSE:NVT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 133,865 shares of the company’s stock, valued at approximately $9,124,000. Avalon Trust Co owned about 0.08% of nVent Electric as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Franklin Resources Inc. boosted its position in nVent Electric by 22.1% during the 3rd quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after buying an additional 1,269,335 shares during the period. State Street Corp boosted its position in nVent Electric by 0.9% during the 3rd quarter. State Street Corp now owns 5,031,623 shares of the company’s stock valued at $353,522,000 after buying an additional 42,465 shares during the period. Geode Capital Management LLC boosted its position 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 buying an additional 29,794 shares during the period. Janus Henderson Group PLC boosted its position in nVent Electric by 23.6% during the 3rd quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock valued at $171,492,000 after buying an additional 466,042 shares during the period. Finally, Clean Energy Transition LLP boosted its position in nVent Electric by 56.5% during the 3rd quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock valued at $158,411,000 after buying an additional 813,909 shares during the period. Institutional investors own 90.05% of the company’s stock.

nVent Electric Trading Up 4.9 %

NYSE:NVT opened at $56.84 on Friday. The company has a 50-day moving average price of $64.98 and a 200-day moving average price of $69.35. nVent Electric plc has a 12 month low of $51.99 and a 12 month high of $86.57. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The stock has a market cap of $9.38 billion, a price-to-earnings ratio of 29.00, a P/E/G ratio of 1.48 and a beta of 1.31.

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 the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. Equities analysts predict that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be paid a $0.20 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.41%. nVent Electric’s payout ratio is 40.82%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NVT shares. Royal Bank of Canada increased their price target on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Barclays dropped their price target on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Finally, Citigroup dropped their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Five investment 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 target price of $86.00.

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.