LGT Fund Management Co Ltd. Buys New Stake in nVent Electric plc (NYSE:NVT)

LGT Fund Management Co Ltd. purchased a new position in nVent Electric plc (NYSE:NVT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,492 shares of the company’s stock, valued at approximately $238,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in NVT. Crews Bank & Trust acquired a new stake in nVent Electric during the fourth quarter valued at $26,000. Larson Financial Group LLC lifted its stake 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 buying an additional 181 shares in the last quarter. Huntington National Bank lifted its stake 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 buying an additional 223 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of nVent Electric in the third quarter worth about $44,000. Finally, Tsfg LLC purchased a new position in shares of nVent Electric in the fourth quarter worth about $51,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Down 6.7 %

NVT opened at $56.31 on Tuesday. The business’s fifty day simple moving average is $67.49 and its 200 day simple moving average is $70.06. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The firm has a market cap of $9.29 billion, a P/E ratio of 28.73, a PEG ratio of 1.48 and a beta of 1.26. nVent Electric plc has a 52 week low of $55.69 and a 52 week high of $86.57.

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, hitting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. As a group, equities research analysts anticipate that nVent Electric plc will post 3.04 EPS for the current fiscal 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. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a yield of 1.42%. nVent Electric’s dividend payout ratio (DPR) is presently 40.82%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NVT. Citigroup reduced their target price 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 reduced their target price 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. Finally, Royal Bank of Canada boosted their price target on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $85.50.

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.