Sterling Capital Management LLC Increases Holdings in nVent Electric plc (NYSE:NVT)

Sterling Capital Management LLC boosted its position in nVent Electric plc (NYSE:NVT) by 11.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,016 shares of the company’s stock after buying an additional 2,936 shares during the quarter. Sterling Capital Management LLC’s holdings in nVent Electric were worth $1,910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of NVT. Crews Bank & Trust purchased a new stake in shares of nVent Electric in the 4th quarter valued at $26,000. Tsfg LLC bought a new stake in nVent Electric in the fourth quarter worth $51,000. Raleigh Capital Management Inc. boosted its position in nVent Electric by 547.4% during 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. MassMutual Private Wealth & Trust FSB grew its stake in shares of nVent Electric by 26.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock valued at $53,000 after buying an additional 162 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of nVent Electric by 243.5% in the fourth quarter. Blue Trust Inc. now owns 869 shares of the company’s stock worth $61,000 after buying an additional 616 shares during the period. 90.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Royal Bank of Canada raised their price target on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a report on Friday, March 21st. The Goldman Sachs Group lowered their price target on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. CL King raised shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Monday, March 17th. Finally, Citigroup lowered their price objective on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $74.17.

nVent Electric Trading Up 0.9 %

Shares of NVT opened at $49.73 on Monday. nVent Electric plc has a 1-year low of $41.71 and a 1-year high of $86.57. 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 firm’s 50-day moving average price is $57.63 and its 200-day moving average price is $67.25. The firm has a market capitalization of $8.19 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 1.48 and a beta of 1.21.

nVent Electric (NYSE:NVT) last announced its earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. Sell-side analysts anticipate that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio is presently 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.