1,680 Shares in nVent Electric plc (NYSE:NVT) Purchased by Optimum Investment Advisors

Optimum Investment Advisors purchased a new position in shares of nVent Electric plc (NYSE:NVT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,680 shares of the company’s stock, valued at approximately $115,000.

Several other large investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its holdings in nVent Electric by 22.1% in the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after buying an additional 1,269,335 shares in the last quarter. State Street Corp increased its holdings 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 buying an additional 42,465 shares in the last quarter. Geode Capital Management LLC increased its holdings in nVent Electric by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock valued at $194,894,000 after buying an additional 29,794 shares in the last quarter. William Blair Investment Management LLC increased its holdings in nVent Electric by 8.8% in the fourth quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company’s stock valued at $176,630,000 after buying an additional 210,690 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in nVent Electric by 23.6% in the third quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock valued at $171,492,000 after buying an additional 466,042 shares in the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Seaport Res Ptn raised shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday. Barclays dropped their price objective on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. CL King raised shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Monday, March 17th. Royal Bank of Canada raised their target price on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Citigroup decreased 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 report on Monday, January 13th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $83.33.

nVent Electric Stock Performance

NYSE:NVT opened at $57.11 on Monday. 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 price-to-earnings ratio of 29.14, a PEG ratio of 1.48 and a beta of 1.31. The firm’s fifty day simple moving average is $63.63 and its 200 day simple moving average is $69.06. nVent Electric plc has a twelve month low of $51.99 and a twelve month high of $86.57.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 expect that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.40%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is 40.82%.

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.