Treasurer of the State of North Carolina Buys 450 Shares of nVent Electric plc (NYSE:NVT)

Treasurer of the State of North Carolina lifted its position in nVent Electric plc (NYSE:NVT) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,632 shares of the company’s stock after acquiring an additional 450 shares during the quarter. Treasurer of the State of North Carolina’s holdings in nVent Electric were worth $4,951,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. grew its position in nVent Electric by 22.1% in the 3rd quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock worth $527,374,000 after purchasing an additional 1,269,335 shares in the last quarter. Norges Bank purchased a new position in shares of nVent Electric in the 4th quarter worth approximately $197,434,000. Geode Capital Management LLC grew its holdings in shares of nVent Electric by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock valued at $194,894,000 after acquiring an additional 29,794 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of nVent Electric by 8.8% during the fourth quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company’s stock valued at $176,630,000 after acquiring an additional 210,690 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in nVent Electric by 1.7% during the third quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company’s stock worth $123,891,000 after acquiring an additional 28,876 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Up 0.4 %

NVT opened at $50.04 on Tuesday. The company has a 50 day moving average of $57.36 and a 200 day moving average of $67.10. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. nVent Electric plc has a 12 month low of $41.71 and a 12 month high of $86.57. The company has a market cap of $8.24 billion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21.

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

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Friday, April 25th. nVent Electric’s payout ratio is 40.82%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on NVT shares. Citigroup lowered their target price on nVent Electric from $85.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday. KeyCorp lowered their price objective on shares of nVent Electric from $75.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada increased their target price on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. CL King upgraded nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Monday, March 17th. Finally, The Goldman Sachs Group decreased their target price on nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $69.00.

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.