Clean Energy Transition LLP Has $144.20 Million Position in nVent Electric plc (NYSE:NVT)

Clean Energy Transition LLP lowered its stake in nVent Electric plc (NYSE:NVT) by 6.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,115,665 shares of the company’s stock after selling 138,968 shares during the quarter. nVent Electric comprises approximately 5.4% of Clean Energy Transition LLP’s holdings, making the stock its 3rd largest holding. Clean Energy Transition LLP owned 1.28% of nVent Electric worth $144,204,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB raised its position in shares of nVent Electric by 16.9% in the 4th quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock valued at $6,378,000 after buying an additional 13,483 shares in the last quarter. Geode Capital Management LLC grew its position in shares of nVent Electric by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after buying an additional 29,794 shares during the period. Harbor Capital Advisors Inc. bought a new stake in nVent Electric in the 4th quarter valued at about $1,520,000. TT International Asset Management LTD raised its holdings in nVent Electric by 20.4% during the fourth quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock worth $7,388,000 after buying an additional 18,376 shares during the last quarter. Finally, LVM Capital Management Ltd. MI boosted its position in shares of nVent Electric by 8.1% during the fourth quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock valued at $10,307,000 after buying an additional 11,349 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on NVT. Citigroup cut their price target on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. KeyCorp decreased their target price on nVent Electric from $75.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday. CL King raised shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Monday, March 17th. Finally, Barclays lowered their price objective on nVent Electric from $70.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $74.17.

nVent Electric Stock Down 4.9 %

nVent Electric stock opened at $49.31 on Friday. nVent Electric plc has a 12 month low of $41.71 and a 12 month high of $86.57. The business has a 50 day simple moving average of $57.90 and a 200-day simple moving average of $67.41. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The stock has a market capitalization of $8.14 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting 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, analysts anticipate that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.62%. nVent Electric’s payout ratio is 40.82%.

About nVent Electric

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.