Vaughan Nelson Investment Management L.P. Buys 156,879 Shares of nVent Electric plc (NYSE:NVT)

Vaughan Nelson Investment Management L.P. raised its stake in nVent Electric plc (NYSE:NVTFree Report) by 42.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 523,456 shares of the company’s stock after purchasing an additional 156,879 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 0.32% of nVent Electric worth $39,468,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FinTrust Capital Advisors LLC lifted its position in nVent Electric by 17.5% in the fourth quarter. FinTrust Capital Advisors LLC now owns 1,056 shares of the company’s stock valued at $62,000 after purchasing an additional 157 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of nVent Electric by 3.2% during the fourth quarter. Private Advisor Group LLC now owns 6,216 shares of the company’s stock valued at $367,000 after acquiring an additional 191 shares in the last quarter. State of Michigan Retirement System raised its holdings in shares of nVent Electric by 0.5% during the fourth quarter. State of Michigan Retirement System now owns 39,806 shares of the company’s stock valued at $2,352,000 after acquiring an additional 200 shares in the last quarter. Quent Capital LLC raised its holdings in shares of nVent Electric by 123.2% during the fourth quarter. Quent Capital LLC now owns 424 shares of the company’s stock valued at $25,000 after acquiring an additional 234 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its holdings in shares of nVent Electric by 5.8% during the fourth quarter. Pinnacle Associates Ltd. now owns 4,281 shares of the company’s stock valued at $253,000 after acquiring an additional 236 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on NVT shares. The Goldman Sachs Group upped their target price on nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a report on Monday, May 6th. Citigroup upped their target price on nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a report on Monday, May 6th. 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 report on Monday, May 6th. Barclays upped their price target on nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4th. Finally, Deutsche Bank Aktiengesellschaft began coverage on nVent Electric in a research note 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.00.

View Our Latest Research Report on nVent Electric

nVent Electric Price Performance

Shares of NVT stock opened at $75.62 on Wednesday. The stock has a market cap of $12.55 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 1.68 and a beta of 1.31. The business’s fifty day moving average is $78.84 and its 200 day moving average is $70.18. nVent Electric plc has a twelve month low of $45.60 and a twelve month high of $86.57. The company has a quick ratio of 1.35, a current ratio of 1.99 and a debt-to-equity ratio of 0.54.

nVent Electric (NYSE:NVTGet Free Report) last released 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 return on equity of 17.47% and a net margin of 17.02%. The firm had revenue of $874.60 million for the quarter, compared to analysts’ expectations of $864.14 million. During the same period in the prior year, the firm posted $0.67 earnings per share. The company’s quarterly revenue was up 18.0% on a year-over-year basis. Research analysts expect that nVent Electric plc will post 3.27 EPS 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. 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 1.01%. nVent Electric’s dividend payout ratio is currently 22.16%.

About nVent Electric

(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.

See Also

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

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