Federated Hermes Inc. Acquires 76,909 Shares of nVent Electric plc (NYSE:NVT)

Federated Hermes Inc. raised its holdings in nVent Electric plc (NYSE:NVT) by 7.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,128,028 shares of the company’s stock after purchasing an additional 76,909 shares during the period. Federated Hermes Inc.’s holdings in nVent Electric were worth $76,886,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Crews Bank & Trust bought a new stake in shares of nVent Electric during the 4th quarter valued at approximately $26,000. Tsfg LLC acquired a new stake in nVent Electric in the fourth quarter valued at approximately $51,000. Raleigh Capital Management Inc. grew its stake in shares of nVent Electric by 547.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock worth $51,000 after buying an additional 635 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of nVent Electric by 26.5% during the fourth 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. Finally, Blue Trust Inc. lifted its stake in shares of nVent Electric by 243.5% in the 4th quarter. Blue Trust Inc. now owns 869 shares of the company’s stock valued at $61,000 after acquiring an additional 616 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Stock Down 6.3 %

nVent Electric stock opened at $45.28 on Monday. The firm has a 50 day moving average price of $59.82 and a two-hundred day moving average price of $68.31. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. nVent Electric plc has a 52-week low of $41.90 and a 52-week high of $86.57. The firm has a market cap of $7.47 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 1.48 and a beta of 1.21.

nVent Electric (NYSE:NVT) last announced its earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. Equities analysts predict that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The business also recently announced 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 1.77%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s dividend payout ratio is presently 40.82%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Barclays reduced their price objective on nVent Electric from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Friday. CL King upgraded nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Monday, March 17th. KeyCorp cut their target price on shares of nVent Electric from $84.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. Finally, Citigroup dropped their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, nVent Electric has an average rating of “Buy” and an average price target of $77.50.

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.