LGT Group Foundation Has $3.33 Million Stake in nVent Electric plc (NYSE:NVT)

LGT Group Foundation trimmed its position in shares of nVent Electric plc (NYSE:NVT) by 42.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,908 shares of the company’s stock after selling 36,060 shares during the quarter. LGT Group Foundation’s holdings in nVent Electric were worth $3,334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in NVT. Crews Bank & Trust bought a new position in shares of nVent Electric in the 4th quarter valued at approximately $26,000. Larson Financial Group LLC raised its stake in shares of nVent Electric by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares in the last quarter. Huntington National Bank raised its stake in shares of nVent Electric by 57.3% in the 3rd quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after acquiring an additional 223 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of nVent Electric in the 3rd quarter valued at approximately $44,000. Finally, Tsfg LLC bought a new position in shares of nVent Electric in the 4th quarter valued at approximately $51,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on NVT. Royal Bank of Canada raised their price objective on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Citigroup cut their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, Barclays cut their price objective on nVent Electric from $88.00 to $83.00 and set an “overweight” rating on the stock in a research note on Monday. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $85.50.

nVent Electric Stock Performance

Shares of NYSE NVT opened at $56.31 on Tuesday. 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 business’s 50 day moving average is $67.49 and its two-hundred day moving average is $70.06. The company has a market cap of $9.29 billion, a P/E ratio of 28.73, a P/E/G ratio of 1.48 and a beta of 1.26. nVent Electric plc has a 12 month low of $55.69 and a 12 month high of $86.57.

nVent Electric (NYSE:NVT) last announced 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%. On average, equities analysts expect that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s payout ratio is presently 40.82%.

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.