Brown Brothers Harriman & Co. Sells 275 Shares of nVent Electric plc (NYSE:NVT)

Brown Brothers Harriman & Co. reduced its holdings in nVent Electric plc (NYSE:NVT) by 16.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,380 shares of the company’s stock after selling 275 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in nVent Electric were worth $94,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Citigroup Inc. increased its position in shares of nVent Electric by 3.3% in the third quarter. Citigroup Inc. now owns 62,044 shares of the company’s stock worth $4,359,000 after purchasing an additional 1,959 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of nVent Electric by 1.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 73,369 shares of the company’s stock valued at $5,155,000 after buying an additional 874 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of nVent Electric during the 3rd quarter worth $447,000. Point72 Hong Kong Ltd grew its position in nVent Electric by 166.1% in the third quarter. Point72 Hong Kong Ltd now owns 8,100 shares of the company’s stock worth $569,000 after acquiring an additional 5,056 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in nVent Electric by 34.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,986 shares of the company’s stock valued at $491,000 after acquiring an additional 1,786 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NVT shares. Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Barclays dropped their target price on nVent Electric from $83.00 to $75.00 and set an “overweight” rating for the company in a research report on Wednesday, March 26th. 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. Citigroup lowered their price objective on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, KeyCorp cut their price objective on shares of nVent Electric from $84.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $80.50.

nVent Electric Stock Performance

NYSE:NVT opened at $53.25 on Wednesday. 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 plc has a fifty-two week low of $50.14 and a fifty-two week high of $86.57. The firm has a market cap of $8.79 billion, a PE ratio of 27.17, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. The business has a 50 day moving average price of $61.36 and a 200-day moving average price of $68.66.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. Equities research analysts predict that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Friday, April 25th. 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.