Crossmark Global Holdings Inc. Trims Stock Holdings in nVent Electric plc (NYSE:NVT)

Crossmark Global Holdings Inc. reduced its stake in nVent Electric plc (NYSE:NVTFree Report) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,536 shares of the company’s stock after selling 480 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in nVent Electric were worth $1,036,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in NVT. FMR LLC lifted its position in shares of nVent Electric by 41.8% in the third quarter. FMR LLC now owns 6,556,055 shares of the company’s stock valued at $347,405,000 after acquiring an additional 1,932,142 shares in the last quarter. Norges Bank purchased a new stake in shares of nVent Electric in the fourth quarter valued at $109,630,000. Fiera Capital Corp purchased a new stake in shares of nVent Electric in the third quarter valued at $36,106,000. Goldman Sachs Group Inc. lifted its position in shares of nVent Electric by 50.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,633,421 shares of the company’s stock valued at $96,519,000 after acquiring an additional 547,624 shares in the last quarter. Finally, PointState Capital LP purchased a new stake in shares of nVent Electric in the third quarter valued at $26,740,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Stock Performance

nVent Electric stock opened at $76.94 on Monday. The stock’s 50-day moving average is $77.57 and its 200-day moving average is $67.42. The company has a market cap of $12.77 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 1.78 and a beta of 1.31. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.99 and a quick ratio of 1.35. nVent Electric plc has a 12 month low of $45.60 and a 12 month high of $86.57.

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

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.99%. nVent Electric’s dividend payout ratio (DPR) is currently 22.16%.

Wall Street Analyst Weigh In

NVT has been the topic of several recent analyst reports. Barclays increased their target price on nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. Deutsche Bank Aktiengesellschaft initiated coverage on nVent Electric in a research report on Monday, March 11th. They set a “buy” rating and a $83.00 target price on the stock. The Goldman Sachs Group increased their target price on nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Royal Bank of Canada reduced their target price on nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. Finally, Citigroup raised their price objective on nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, May 6th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $89.00.

Check Out Our Latest Analysis on NVT

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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