nVent Electric plc (NYSE:NVT) Shares Sold by Fiduciary Management Inc. WI

Fiduciary Management Inc. WI decreased its holdings in shares of nVent Electric plc (NYSE:NVT) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,534,773 shares of the company’s stock after selling 6,659 shares during the period. Fiduciary Management Inc. WI’s holdings in nVent Electric were worth $104,610,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Crews Bank & Trust bought a new stake in shares of nVent Electric during the 4th quarter valued at about $26,000. Tsfg LLC acquired a new position in nVent Electric in the fourth quarter valued at approximately $51,000. Raleigh Capital Management Inc. grew its holdings 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 valued at $51,000 after purchasing an additional 635 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of nVent Electric by 26.5% during the 4th 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 period. Finally, Blue Trust Inc. raised its position in shares of nVent Electric by 243.5% during the 4th quarter. Blue Trust Inc. now owns 869 shares of the company’s stock worth $61,000 after purchasing an additional 616 shares during the period. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Stock Performance

NVT stock opened at $49.79 on Friday. The company has a 50-day simple moving average of $55.98 and a 200 day simple moving average of $66.60. The company has a market capitalization of $8.20 billion, a P/E ratio of 25.40, a PEG ratio of 1.48 and a beta of 1.21. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. nVent Electric plc has a fifty-two week low of $41.71 and a fifty-two week high of $86.57.

nVent Electric (NYSE:NVT) last issued 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%. Sell-side analysts predict that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Friday, April 25th. nVent Electric’s payout ratio is currently 40.82%.

Analysts Set New Price Targets

A number of brokerages recently commented on NVT. Barclays lowered their price objective on nVent Electric from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. The Goldman Sachs Group lowered their price target 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 reduced their target price on shares of nVent Electric from $85.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, April 14th. 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, Royal Bank of Canada lifted their price target on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, nVent Electric presently has a consensus rating of “Buy” and a consensus target price of $69.00.

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.