nVent Electric plc (NYSE:NVT) Holdings Raised by HighTower Advisors LLC

HighTower Advisors LLC boosted its stake in nVent Electric plc (NYSE:NVT) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,230 shares of the company’s stock after buying an additional 1,052 shares during the quarter. HighTower Advisors LLC’s holdings in nVent Electric were worth $2,197,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB lifted its position in nVent Electric by 26.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock worth $53,000 after buying an additional 162 shares in the last quarter. Calamos Advisors LLC lifted its position in nVent Electric by 1.6% in the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock worth $782,000 after buying an additional 176 shares in the last quarter. Larson Financial Group LLC lifted its position in nVent Electric by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after buying an additional 181 shares in the last quarter. Keybank National Association OH lifted its position in nVent Electric by 2.5% in the 4th quarter. Keybank National Association OH now owns 9,509 shares of the company’s stock worth $648,000 after buying an additional 229 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in shares of nVent Electric by 5.3% during the 4th quarter. CIBC Asset Management Inc now owns 5,078 shares of the company’s stock worth $346,000 after purchasing an additional 255 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Performance

NYSE:NVT opened at $57.11 on Friday. nVent Electric plc has a 1 year low of $51.99 and a 1 year high of $86.57. The firm’s fifty day simple moving average is $63.63 and its 200 day simple moving average is $69.01. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $9.42 billion, a PE ratio of 29.14, a PEG ratio of 1.48 and a beta of 1.31.

nVent Electric (NYSE:NVT) last posted its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. On average, sell-side analysts anticipate that nVent Electric plc will post 3.04 EPS 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 issued a dividend of $0.20 per share. The ex-dividend date is Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.40%. nVent Electric’s payout ratio is 40.82%.

Wall Street Analysts Forecast Growth

NVT has been the topic of several analyst reports. Citigroup dropped 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. Barclays dropped 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 note on Monday, March 3rd. CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Monday, March 17th. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday. Finally, Royal Bank of Canada increased their price target on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $83.33.

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.