KBC Group NV Has $2.54 Million Holdings in nVent Electric plc (NYSE:NVT)

KBC Group NV cut its stake in shares of nVent Electric plc (NYSE:NVTFree Report) by 21.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,021 shares of the company’s stock after selling 11,858 shares during the period. KBC Group NV’s holdings in nVent Electric were worth $2,542,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Quent Capital LLC grew its stake in shares of nVent Electric by 123.2% during the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after purchasing an additional 234 shares during the period. Pacific Center for Financial Services acquired a new position in nVent Electric in the third quarter valued at about $32,000. Headlands Technologies LLC acquired a new position in nVent Electric in the third quarter valued at about $35,000. Smithfield Trust Co grew its stake in nVent Electric by 650.0% in the fourth quarter. Smithfield Trust Co now owns 630 shares of the company’s stock valued at $36,000 after acquiring an additional 546 shares during the period. Finally, GAMMA Investing LLC acquired a new position in nVent Electric in the fourth quarter valued at about $56,000. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Stock Performance

NVT opened at $76.94 on Friday. nVent Electric plc has a 52-week low of $45.60 and a 52-week high of $86.57. The firm has a market capitalization of $12.77 billion, a PE ratio of 22.43, a PEG ratio of 1.77 and a beta of 1.31. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.35 and a current ratio of 1.99. The business’s 50-day simple moving average is $77.57 and its 200 day simple moving average is $67.23.

nVent Electric (NYSE:NVTGet Free Report) last released its earnings results on Friday, May 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.04. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The business had revenue of $874.60 million for the quarter, compared to analyst estimates of $864.14 million. During the same quarter in the prior year, the company posted $0.67 earnings per share. nVent Electric’s revenue was up 18.0% on a year-over-year basis. As a group, sell-side analysts expect that nVent Electric plc will post 3.27 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $0.76 annualized dividend and a yield of 0.99%. nVent Electric’s dividend payout ratio is 22.16%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NVT shares. Royal Bank of Canada decreased their target price on nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. Barclays boosted their target price on nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday. The Goldman Sachs Group boosted their price target on nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a report on Monday, May 6th. Citigroup boosted their price target on nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, Deutsche Bank Aktiengesellschaft started coverage on nVent Electric in a report on Monday, March 11th. They issued a “buy” rating and a $83.00 price target on the stock. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.00.

Read Our Latest Report on nVent Electric

nVent Electric Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for nVent Electric (NYSE:NVT)

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