Clean Energy Transition LLP Sells 138,968 Shares of nVent Electric plc (NYSE:NVT)

Clean Energy Transition LLP trimmed its position in shares of nVent Electric plc (NYSE:NVT) by 6.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,115,665 shares of the company’s stock after selling 138,968 shares during the period. nVent Electric accounts for approximately 5.4% of Clean Energy Transition LLP’s holdings, making the stock its 3rd biggest position. Clean Energy Transition LLP’s holdings in nVent Electric were worth $144,204,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of nVent Electric in the fourth quarter valued at approximately $197,434,000. Franklin Resources Inc. raised its holdings in shares of 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 during the last quarter. Pictet Asset Management Holding SA boosted its position in nVent Electric by 3,186.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 711,343 shares of the company’s stock valued at $48,485,000 after buying an additional 689,701 shares during the last quarter. Impax Asset Management Group plc grew its position in shares of nVent Electric by 2,764.1% during the 4th quarter. Impax Asset Management Group plc now owns 647,304 shares of the company’s stock worth $43,626,000 after buying an additional 624,703 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in nVent Electric by 113.7% in the fourth quarter. JPMorgan Chase & Co. now owns 1,075,409 shares of the company’s stock valued at $73,300,000 after buying an additional 572,086 shares during the period. 90.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on NVT. Barclays cut their target price on nVent Electric from $70.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday. KeyCorp reduced their price target on nVent Electric from $75.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday. Citigroup lowered their price target on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. The Goldman Sachs Group dropped their target price on nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Finally, CL King upgraded nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Monday, March 17th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, nVent Electric has a consensus rating of “Buy” and an average target price of $74.17.

nVent Electric Stock Performance

Shares of NVT opened at $49.31 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The company has a 50-day simple moving average of $57.90 and a two-hundred day simple moving average of $67.41. The firm has a market capitalization of $8.14 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. nVent Electric plc has a one year low of $41.71 and a one year high of $86.57.

nVent Electric (NYSE:NVT) last issued its 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 return on equity of 14.52% and a net margin of 10.09%. On average, 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. Investors of record on Friday, April 25th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Friday, April 25th. nVent Electric’s payout ratio is 40.82%.

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.