Alliancebernstein L.P. Sells 903 Shares of nVent Electric plc (NYSE:NVT)

Alliancebernstein L.P. decreased its position in shares of nVent Electric plc (NYSE:NVT) by 0.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 956,772 shares of the company’s stock after selling 903 shares during the period. Alliancebernstein L.P. owned approximately 0.58% of nVent Electric worth $65,214,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of NVT. Franklin Resources Inc. raised its holdings in nVent Electric by 22.1% in the 3rd quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after acquiring an additional 1,269,335 shares in the last quarter. State Street Corp raised its stake in nVent Electric by 0.9% in the third quarter. State Street Corp now owns 5,031,623 shares of the company’s stock valued at $353,522,000 after purchasing an additional 42,465 shares in the last quarter. Norges Bank acquired a new position in nVent Electric in the fourth quarter valued at about $197,434,000. Geode Capital Management LLC lifted its position in nVent Electric by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after purchasing an additional 29,794 shares during the period. Finally, William Blair Investment Management LLC grew its stake in nVent Electric by 8.8% during the fourth quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company’s stock worth $176,630,000 after buying an additional 210,690 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NVT shares. CL King upgraded nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Monday, March 17th. Barclays reduced their price objective on nVent Electric from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Friday. Citigroup reduced their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. KeyCorp lowered 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 report on Friday, March 28th. Finally, Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $77.50.

nVent Electric Stock Down 6.3 %

NYSE:NVT opened at $45.28 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. nVent Electric plc has a one year low of $41.90 and a one year high of $86.57. The firm’s 50 day simple moving average is $59.82 and its 200 day simple moving average is $68.29. The company has a market cap of $7.47 billion, a PE ratio of 23.10, a P/E/G ratio of 1.48 and a beta of 1.21.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. On average, research 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 disclosed 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s dividend payout ratio is currently 40.82%.

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.