Treasurer of the State of North Carolina Acquires 450 Shares of nVent Electric plc (NYSE:NVT)

Treasurer of the State of North Carolina boosted its stake in nVent Electric plc (NYSE:NVT) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,632 shares of the company’s stock after purchasing an additional 450 shares during the quarter. Treasurer of the State of North Carolina’s holdings in nVent Electric were worth $4,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Crews Bank & Trust purchased a new stake in shares of nVent Electric during the 4th quarter valued at $26,000. Tsfg LLC bought a new position in nVent Electric in the fourth quarter valued at $51,000. Raleigh Capital Management Inc. raised its position in nVent Electric by 547.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock valued at $51,000 after purchasing an additional 635 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in 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 purchasing an additional 162 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of nVent Electric by 243.5% in the 4th quarter. Blue Trust Inc. now owns 869 shares of the company’s stock worth $61,000 after purchasing an additional 616 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Stock Performance

nVent Electric stock opened at $50.04 on Tuesday. 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 cap of $8.24 billion, a P/E ratio of 25.53, a P/E/G ratio of 1.48 and a beta of 1.21. nVent Electric plc has a 1-year low of $41.71 and a 1-year high of $86.57. The firm has a 50-day moving average of $57.36 and a 200-day moving average of $67.10.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. Sell-side analysts expect that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The business also recently disclosed 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. This represents a $0.80 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s payout ratio is currently 40.82%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NVT. KeyCorp dropped their target price on nVent Electric from $75.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Barclays lowered their price objective on shares of nVent Electric from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Royal Bank of Canada increased their target price 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. Seaport Res Ptn raised shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Finally, Citigroup reduced their price objective on nVent Electric from $85.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday. Six 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 $69.00.

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.