Oppenheimer & Co. Inc. Trims Position in nVent Electric plc (NYSE:NVT)

Oppenheimer & Co. Inc. trimmed its position in nVent Electric plc (NYSE:NVTFree Report) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,176 shares of the company’s stock after selling 264 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in nVent Electric were worth $1,251,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. FMR LLC lifted its stake in nVent Electric by 41.8% in the 3rd quarter. FMR LLC now owns 6,556,055 shares of the company’s stock worth $347,405,000 after purchasing an additional 1,932,142 shares in the last quarter. Norges Bank bought a new position in shares of nVent Electric in the fourth quarter worth $109,630,000. Fiera Capital Corp purchased a new stake in shares of nVent Electric in the third quarter worth $36,106,000. Goldman Sachs Group Inc. boosted its stake in nVent Electric by 50.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,633,421 shares of the company’s stock valued at $96,519,000 after buying an additional 547,624 shares during the period. Finally, PointState Capital LP purchased a new position in nVent Electric during the third quarter worth about $26,740,000. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Trading Up 1.7 %

NVT stock opened at $78.23 on Tuesday. The company has a market capitalization of $12.99 billion, a PE ratio of 22.81, 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 quick ratio of 1.35 and a current ratio of 1.99. nVent Electric plc has a one year low of $45.60 and a one year high of $86.57. The company’s 50 day moving average price is $77.63 and its two-hundred day moving average price is $67.59.

nVent Electric (NYSE:NVTGet Free Report) last issued its earnings results 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 net margin of 17.02% and a return on equity of 17.47%. The company had revenue of $874.60 million for the quarter, compared to analysts’ expectations of $864.14 million. During the same quarter last year, the company earned $0.67 EPS. The firm’s revenue was up 18.0% compared to the same quarter last year. As a group, analysts predict that nVent Electric plc will post 3.27 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Friday, July 19th. nVent Electric’s dividend payout ratio is presently 22.16%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft initiated 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. Citigroup raised their target price on shares of nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Barclays boosted their price target on shares of nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4th. Royal Bank of Canada lowered their price objective on shares of 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, The Goldman Sachs Group lifted their price objective on shares of nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Monday, May 6th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $89.00.

Get Our Latest Analysis on NVT

nVent Electric 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.

Further Reading

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

Receive News & Ratings for nVent Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for nVent Electric and related companies with MarketBeat.com's FREE daily email newsletter.