Capital Research Global Investors Makes New Investment in nVent Electric plc (NYSE:NVT)

Capital Research Global Investors acquired a new stake in nVent Electric plc (NYSE:NVT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,644,798 shares of the company’s stock, valued at approximately $384,749,000. Capital Research Global Investors owned 3.42% of nVent Electric at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Nordea Investment Management AB raised its holdings in nVent Electric by 16.9% in the 4th quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock valued at $6,378,000 after acquiring an additional 13,483 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in nVent Electric during the 4th quarter worth approximately $1,520,000. TT International Asset Management LTD boosted its stake in nVent Electric by 20.4% in the 4th quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock valued at $7,388,000 after purchasing an additional 18,376 shares during the period. LVM Capital Management Ltd. MI grew its holdings in nVent Electric by 8.1% in the 4th quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock valued at $10,307,000 after buying an additional 11,349 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in nVent Electric by 12.4% during the 4th quarter. Pacer Advisors Inc. now owns 55,790 shares of the company’s stock worth $3,803,000 after buying an additional 6,175 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NVT shares. CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Monday, March 17th. KeyCorp decreased their target price on shares of nVent Electric from $75.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Seaport Res Ptn raised shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a report on Friday, March 21st. The Goldman Sachs Group decreased their price objective 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. Finally, Citigroup cut their target price on nVent Electric from $85.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $69.00.

nVent Electric Trading Up 0.4 %

Shares of NVT stock opened at $49.79 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $8.20 billion, a P/E 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 stock’s fifty day simple moving average is $55.98 and its 200 day simple moving average is $66.59.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. As a group, sell-side analysts predict that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be paid a $0.20 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.61%. nVent Electric’s dividend 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.