nVent Electric plc (NYSE:NVT) Shares Acquired by Swiss National Bank

Swiss National Bank grew its holdings in shares of nVent Electric plc (NYSE:NVT) by 0.9% in the 4th quarter, Holdings Channel reports. The fund owned 326,887 shares of the company’s stock after acquiring an additional 2,900 shares during the period. Swiss National Bank’s holdings in nVent Electric were worth $22,281,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Crews Bank & Trust acquired a new stake in shares of nVent Electric in the 4th quarter worth about $26,000. Larson Financial Group LLC raised its position in nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares in the last quarter. Huntington National Bank increased its holdings in shares of nVent Electric by 57.3% in the third quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after buying an additional 223 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of nVent Electric during the third quarter valued at $44,000. Finally, Tsfg LLC acquired a new position in nVent Electric in the 4th quarter worth approximately $51,000. Institutional investors own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on NVT. Barclays lowered their price target on nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. CL King upgraded nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Monday. Citigroup lowered their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, Royal Bank of Canada raised their price target on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $83.33.

nVent Electric Stock Up 0.1 %

nVent Electric stock opened at $56.72 on Tuesday. 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 plc has a 1-year low of $51.99 and a 1-year high of $86.57. The company has a fifty day simple moving average of $64.69 and a 200 day simple moving average of $69.31. The company has a market cap of $9.36 billion, a P/E ratio of 28.94, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31.

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

nVent Electric Dividend Announcement

The company also recently announced 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 dividend payout ratio is presently 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.