Commerce Bank Boosts Stake in nVent Electric plc (NYSE:NVT)

Commerce Bank grew its holdings in nVent Electric plc (NYSE:NVT) by 0.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 835,301 shares of the company’s stock after acquiring an additional 1,259 shares during the quarter. Commerce Bank’s holdings in nVent Electric were worth $56,934,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in NVT. Crews Bank & Trust acquired a new position in shares of nVent Electric during the 4th quarter worth about $26,000. Tsfg LLC purchased a new stake in shares of nVent Electric during the 4th quarter valued at approximately $51,000. Raleigh Capital Management Inc. raised its position in nVent Electric by 547.4% in 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 during the period. MassMutual Private Wealth & Trust FSB lifted its position in nVent Electric by 26.5% in the fourth 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. lifted 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 acquiring an additional 616 shares during the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. The Goldman Sachs Group lowered their target price on nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a report on Friday, March 21st. Citigroup lowered their target price on shares of nVent Electric from $85.00 to $59.00 and set a “buy” rating for the company in a report on Monday. KeyCorp dropped their price target on nVent Electric from $75.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, Barclays dropped their price objective on shares of nVent Electric from $70.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. 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. Based on data from MarketBeat.com, nVent Electric presently has an average rating of “Buy” and an average target price of $69.00.

nVent Electric Stock Up 0.4 %

nVent Electric stock opened at $49.79 on Friday. The stock’s 50 day moving average price is $56.32 and its 200 day moving average price is $66.73. The company has a market cap of $8.20 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. nVent Electric plc has a 1-year low of $41.71 and a 1-year high of $86.57.

nVent Electric (NYSE:NVT) last posted its quarterly 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 net margin of 10.09% and a return on equity of 14.52%. On average, sell-side analysts predict that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.61%. nVent Electric’s payout ratio is 40.82%.

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.