Lazard Asset Management LLC Decreases Stake in nVent Electric plc (NYSE:NVT)

Lazard Asset Management LLC cut its stake in shares of nVent Electric plc (NYSE:NVT) by 95.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,349 shares of the company’s stock after selling 27,960 shares during the quarter. Lazard Asset Management LLC’s holdings in nVent Electric were worth $90,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NVT. Crews Bank & Trust acquired a new position in nVent Electric during the 4th quarter worth approximately $26,000. Blue Trust Inc. lifted its position in shares of nVent Electric by 243.5% during the 4th quarter. Blue Trust Inc. now owns 869 shares of the company’s stock worth $61,000 after purchasing an additional 616 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of nVent Electric during the fourth quarter worth $65,000. Johnson Financial Group Inc. purchased a new position in nVent Electric in the fourth quarter valued at $65,000. Finally, Huntington National Bank raised its stake in nVent Electric by 60.9% in the fourth quarter. Huntington National Bank now owns 985 shares of the company’s stock valued at $67,000 after buying an additional 373 shares in the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Price Performance

NVT stock opened at $65.34 on Monday. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $10.76 billion, a P/E ratio of 33.34, a PEG ratio of 1.48 and a beta of 1.24. The business has a 50 day simple moving average of $56.06 and a 200-day simple moving average of $64.32. nVent Electric plc has a twelve month low of $41.71 and a twelve month high of $86.57.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. The firm had revenue of $809.30 million during the quarter, compared to analysts’ expectations of $790.74 million. During the same quarter in the prior year, the business earned $0.78 EPS. nVent Electric’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, equities analysts anticipate that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Friday, July 18th. nVent Electric’s dividend payout ratio is presently 22.86%.

Analysts Set New Price Targets

A number of research analysts have recently commented on NVT shares. The Goldman Sachs Group dropped their price objective on nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Monday, March 17th. KeyCorp raised their price objective on shares of nVent Electric from $60.00 to $72.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a report on Friday, March 21st. Finally, Barclays increased their target price on shares of nVent Electric from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, nVent Electric has an average rating of “Buy” and an average price target of $70.00.

Insiders Place Their Bets

In other news, EVP Lynnette R. Heath sold 4,041 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total value of $247,915.35. Following the transaction, the executive vice president now owns 32,665 shares of the company’s stock, valued at approximately $2,003,997.75. The trade was a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.80% of the stock is owned by insiders.

nVent Electric Company Profile

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.