nVent Electric plc (NYSE:NVT) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its holdings in shares of nVent Electric plc (NYSE:NVT) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,017 shares of the company’s stock after selling 1,357 shares during the period. Wellington Management Group LLP’s holdings in nVent Electric were worth $5,083,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quent Capital LLC boosted its stake in shares of nVent Electric by 123.2% during the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after buying an additional 234 shares during the period. Pacific Center for Financial Services acquired a new position in shares of nVent Electric in the third quarter valued at approximately $32,000. Smithfield Trust Co raised its stake in shares of nVent Electric by 650.0% during the fourth quarter. Smithfield Trust Co now owns 630 shares of the company’s stock worth $36,000 after purchasing an additional 546 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of nVent Electric during the fourth quarter worth $56,000. Finally, FinTrust Capital Advisors LLC lifted its holdings in shares of nVent Electric by 17.5% during the fourth quarter. FinTrust Capital Advisors LLC now owns 1,056 shares of the company’s stock worth $62,000 after purchasing an additional 157 shares during the period. 90.05% of the stock is owned by hedge funds and other institutional investors.

nVent Electric Trading Up 0.6 %

Shares of nVent Electric stock opened at $76.61 on Friday. The company has a 50-day moving average of $78.70 and a two-hundred day moving average of $69.86. The stock has a market cap of $12.72 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 1.76 and a beta of 1.31. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54. nVent Electric plc has a 12-month low of $45.60 and a 12-month high of $86.57.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.04. The firm had revenue of $874.60 million during the quarter, compared to the consensus estimate of $864.14 million. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. nVent Electric’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period last year, the business posted $0.67 EPS. On average, research analysts anticipate that nVent Electric plc will post 3.27 EPS for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be given a $0.19 dividend. The ex-dividend date is Friday, July 19th. This represents a $0.76 annualized dividend and a dividend yield of 0.99%. nVent Electric’s dividend payout ratio is presently 22.16%.

Analysts Set New Price Targets

A number of brokerages have commented on NVT. Citigroup upped their price objective on shares of nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Barclays increased their price target on shares of nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, June 4th. Royal Bank of Canada lowered their price objective on nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a report on Monday, May 6th. The Goldman Sachs Group increased their target price on nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on nVent Electric in a research note on Monday, March 11th. They issued a “buy” rating and a $83.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.00.

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.