Voya Investment Management LLC Lowers Holdings in nVent Electric plc (NYSE:NVT)

Voya Investment Management LLC decreased its position in shares of nVent Electric plc (NYSE:NVT) by 37.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 460,032 shares of the company’s stock after selling 281,040 shares during the period. Voya Investment Management LLC’s holdings in nVent Electric were worth $31,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crews Bank & Trust purchased a new stake in shares of nVent Electric in the fourth quarter valued at approximately $26,000. Tsfg LLC acquired a new position in shares of nVent Electric during the fourth quarter valued at approximately $51,000. Raleigh Capital Management Inc. lifted its position 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 acquiring an additional 635 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in nVent Electric by 26.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock worth $53,000 after purchasing an additional 162 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in nVent Electric by 243.5% during the 4th quarter. Blue Trust Inc. now owns 869 shares of the company’s stock valued at $61,000 after acquiring an additional 616 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Stock Performance

Shares of NVT opened at $54.86 on Friday. The stock has a 50-day simple moving average of $54.37 and a 200-day simple moving average of $65.99. The stock has a market capitalization of $9.03 billion, a PE ratio of 27.99, a PEG ratio of 1.48 and a beta of 1.21. nVent Electric plc has a 1 year low of $41.71 and a 1 year high of $86.57. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73.

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

nVent Electric Dividend Announcement

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 issued a $0.20 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.46%. nVent Electric’s payout ratio is 40.82%.

Analyst Ratings Changes

A number of brokerages have issued reports on NVT. Citigroup cut their target price on nVent Electric from $85.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, April 14th. KeyCorp decreased their price target on nVent Electric from $75.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Barclays dropped their price objective on nVent Electric from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Royal Bank of Canada increased their target price on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Monday, March 17th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $69.00.

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.