Meyer Handelman Co. decreased its stake in nVent Electric PLC (NYSE:NVT) by 5.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 26,590 shares of the company’s stock after selling 1,500 shares during the period. Meyer Handelman Co.’s holdings in nVent Electric were worth $598,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. First Hawaiian Bank increased its stake in shares of nVent Electric by 64.0% in the fourth quarter. First Hawaiian Bank now owns 1,604 shares of the company’s stock valued at $36,000 after buying an additional 626 shares during the period. Farmers & Merchants Investments Inc. acquired a new stake in shares of nVent Electric in the third quarter valued at about $100,000. Stratos Wealth Partners LTD. acquired a new stake in shares of nVent Electric in the third quarter valued at about $102,000. TRUE Private Wealth Advisors acquired a new stake in shares of nVent Electric in the third quarter valued at about $114,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of nVent Electric in the fourth quarter valued at about $156,000. 85.74% of the stock is owned by institutional investors.
Shares of nVent Electric stock traded up $0.24 on Monday, hitting $25.64. 397 shares of the company’s stock traded hands, compared to its average volume of 1,006,948. nVent Electric PLC has a one year low of $19.71 and a one year high of $29.84. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.83 and a quick ratio of 1.34. The firm has a market cap of $4.56 billion and a price-to-earnings ratio of 14.72.
nVent Electric (NYSE:NVT) last announced its earnings results on Thursday, January 31st. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.01). nVent Electric had a net margin of 10.43% and a return on equity of 10.08%. The business had revenue of $568.10 million for the quarter, compared to the consensus estimate of $547.30 million. On average, sell-side analysts expect that nVent Electric PLC will post 1.87 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 8th. Investors of record on Friday, January 25th were given a dividend of $0.175 per share. The ex-dividend date was Thursday, January 24th. This represents a $0.70 annualized dividend and a dividend yield of 2.73%. nVent Electric’s payout ratio is 40.23%.
Several brokerages have recently weighed in on NVT. Zacks Investment Research raised nVent Electric from a “sell” rating to a “hold” rating in a research note on Friday, February 1st. Vertical Research upgraded nVent Electric from a “hold” rating to a “buy” rating in a research report on Wednesday, January 2nd. Finally, Goldman Sachs Group upgraded nVent Electric from a “neutral” rating to a “buy” rating and cut their target price for the company from $31.00 to $30.00 in a research report on Friday, October 26th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $28.50.
About nVent Electric
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products and solutions in the United States, Canada, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.
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