Amundi Sells 249,325 Shares of nVent Electric plc (NYSE:NVT)

Amundi trimmed its stake in nVent Electric plc (NYSE:NVT) by 64.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 135,671 shares of the company’s stock after selling 249,325 shares during the period. Amundi owned approximately 0.08% of nVent Electric worth $9,477,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC increased its position in shares of 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 purchasing an additional 181 shares during the last quarter. Crews Bank & Trust bought a new position in shares of nVent Electric in the fourth quarter worth approximately $26,000. Huntington National Bank increased its position in shares of nVent Electric by 57.3% in the third quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after purchasing an additional 223 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of nVent Electric in the third quarter worth approximately $44,000. Finally, Tsfg LLC bought a new position in nVent Electric during the fourth quarter valued at approximately $51,000. 90.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented 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. 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 report on Monday, January 13th. Finally, Barclays reduced their price target on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $86.00.

nVent Electric Stock Performance

NYSE:NVT opened at $56.84 on Friday. The firm has a market cap of $9.38 billion, a PE ratio of 29.00, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. nVent Electric plc has a fifty-two week low of $51.99 and a fifty-two week high of $86.57. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The business has a 50 day moving average price of $64.98 and a 200-day moving average price of $69.33.

nVent Electric (NYSE:NVT) last released 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%. Equities research analysts predict that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders 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 dividend yield of 1.41%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is presently 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.