Rockefeller Capital Management L.P. Has $2.95 Million Position in nVent Electric plc (NYSE:NVT)

Rockefeller Capital Management L.P. decreased its position in shares of nVent Electric plc (NYSE:NVT) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,303 shares of the company’s stock after selling 873 shares during the period. Rockefeller Capital Management L.P.’s holdings in nVent Electric were worth $2,952,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. World Investment Advisors LLC bought a new stake in nVent Electric during the third quarter worth $314,000. Wilmington Savings Fund Society FSB bought a new stake in shares of nVent Electric during the 3rd quarter worth $124,000. Tidal Investments LLC boosted its stake in nVent Electric by 42.0% in the third quarter. Tidal Investments LLC now owns 46,016 shares of the company’s stock valued at $3,233,000 after buying an additional 13,621 shares in the last quarter. Franklin Resources Inc. boosted its stake in 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 in the last quarter. Finally, Principal Financial Group Inc. grew its position in nVent Electric by 1.7% in the third quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company’s stock valued at $123,891,000 after acquiring an additional 28,876 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Stock Performance

Shares of nVent Electric stock opened at $49.79 on Friday. The stock has a market cap of $8.20 billion, a price-to-earnings ratio of 25.40, a P/E/G ratio of 1.48 and a beta of 1.21. nVent Electric plc has a twelve month low of $41.71 and a twelve month high of $86.57. The company’s fifty day moving average is $55.98 and its 200 day moving average is $66.60. 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 (NYSE:NVT) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. Sell-side analysts forecast that nVent Electric plc will post 3.04 EPS for the current 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 issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 annualized dividend and a yield of 1.61%. nVent Electric’s payout ratio is 40.82%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NVT shares. The Goldman Sachs Group reduced their price target on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. 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. Citigroup lowered their price target on shares of nVent Electric from $85.00 to $59.00 and set a “buy” rating for the company in a report on Monday, April 14th. CL King upgraded nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Monday, March 17th. Finally, 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. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, nVent Electric currently has a consensus rating of “Buy” and an average target price of $69.00.

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.