World Investment Advisors Sells 945 Shares of nVent Electric plc (NYSE:NVT)

World Investment Advisors lowered its stake in nVent Electric plc (NYSE:NVT) by 21.1% in the fourth quarter, Holdings Channel reports. The fund owned 3,530 shares of the company’s stock after selling 945 shares during the quarter. World Investment Advisors’ holdings in nVent Electric were worth $241,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in NVT. Crews Bank & Trust bought a new position in nVent Electric in the 4th quarter valued at approximately $26,000. Tsfg LLC bought a new position in nVent Electric in the 4th quarter valued at approximately $51,000. Raleigh Capital Management Inc. raised its holdings in nVent Electric by 547.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock valued at $51,000 after buying an additional 635 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in nVent Electric by 26.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock valued at $53,000 after buying an additional 162 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in 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 buying an additional 616 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NVT. KeyCorp dropped their price objective on shares of nVent Electric from $75.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday. Royal Bank of Canada raised their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. The Goldman Sachs Group decreased their target price on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Citigroup decreased their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Barclays decreased their target price on shares of nVent Electric from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Friday, April 4th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $75.00.

nVent Electric Stock Performance

Shares of NVT stock opened at $51.96 on Thursday. The company has a market cap of $8.57 billion, a price-to-earnings ratio of 26.51, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. nVent Electric plc has a 52 week low of $41.71 and a 52 week high of $86.57. 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 50 day moving average of $58.18 and a 200-day moving average of $67.55.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.59 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%. On average, equities analysts forecast that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

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 given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend 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.