Benjamin F. Edwards & Company Inc. decreased its stake in shares of nVent Electric PLC (NYSE:NVT) by 39.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,952 shares of the company’s stock after selling 1,267 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in nVent Electric were worth $44,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. First Hawaiian Bank increased its stake in nVent Electric by 64.0% during the 4th quarter. First Hawaiian Bank now owns 1,604 shares of the company’s stock valued at $36,000 after purchasing an additional 626 shares in the last quarter. Farmers & Merchants Investments Inc. acquired a new position in nVent Electric during the 3rd quarter valued at approximately $100,000. Stratos Wealth Partners LTD. acquired a new stake in shares of nVent Electric in the third quarter worth $102,000. TRUE Private Wealth Advisors acquired a new stake in shares of nVent Electric in the third quarter worth $114,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of nVent Electric in the fourth quarter worth $156,000. Institutional investors and hedge funds own 85.74% of the company’s stock.
A number of analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of nVent Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, November 6th. Vertical Research assumed coverage on shares of nVent Electric in a research note on Wednesday, November 28th. They issued a “hold” rating and a $28.00 price objective on the stock. Finally, Goldman Sachs Group upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $31.00 to $30.00 in a research note on Friday, October 26th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $28.50.
NYSE:NVT opened at $26.31 on Thursday. The firm has a market capitalization of $4.67 billion and a PE ratio of 15.12. nVent Electric PLC has a 1-year low of $19.71 and a 1-year high of $29.84. The company has a current ratio of 1.83, a quick ratio of 1.34 and a debt-to-equity ratio of 0.35.
nVent Electric (NYSE:NVT) last released its quarterly earnings results on Thursday, January 31st. The company reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.01). The firm had revenue of $568.10 million for the quarter, compared to analyst estimates of $547.30 million. nVent Electric had a net margin of 10.43% and a return on equity of 10.08%. Research analysts predict that nVent Electric PLC will post 1.87 EPS for the current fiscal year.
The company also recently declared 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 yield of 2.66%. nVent Electric’s dividend payout ratio is presently 40.23%.
nVent Electric Profile
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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