Artisan Partners Limited Partnership Purchases 311 Shares of nVent Electric plc (NYSE:NVT)

Artisan Partners Limited Partnership grew its position in shares of nVent Electric plc (NYSE:NVT) by 0.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 629,342 shares of the company’s stock after buying an additional 311 shares during the quarter. Artisan Partners Limited Partnership owned 0.38% of nVent Electric worth $42,896,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crews Bank & Trust purchased a new position in nVent Electric in the fourth quarter valued at about $26,000. Larson Financial Group LLC lifted its stake in nVent Electric by 91.9% in the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. Brooklyn Investment Group bought a new position in nVent Electric during the third quarter valued at $44,000. Tsfg LLC purchased a new stake in nVent Electric in the fourth quarter worth $51,000. Finally, Raleigh Capital Management Inc. raised its stake in shares of nVent Electric by 547.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock valued at $51,000 after buying an additional 635 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

NVT has been the topic of a number of research reports. Citigroup lowered their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada lifted their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Barclays cut their price target on nVent Electric from $83.00 to $75.00 and set an “overweight” rating for the company in a report on Wednesday. KeyCorp decreased their price objective on nVent Electric from $84.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Seaport Res Ptn upgraded nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $80.50.

nVent Electric Price Performance

nVent Electric stock opened at $52.89 on Friday. The business has a 50-day simple moving average of $62.19 and a 200 day simple moving average of $68.76. nVent Electric plc has a 52 week low of $51.99 and a 52 week high of $86.57. The stock has a market cap of $8.73 billion, a price-to-earnings ratio of 26.98, a PEG ratio of 1.48 and a beta of 1.31. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. On average, research analysts forecast that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio is currently 40.82%.

nVent Electric 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.