Federated Hermes Inc. Has $76.89 Million Stock Position in nVent Electric plc (NYSE:NVT)

Federated Hermes Inc. increased its stake in nVent Electric plc (NYSE:NVT) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,128,028 shares of the company’s stock after buying an additional 76,909 shares during the quarter. Federated Hermes Inc. owned approximately 0.68% of nVent Electric worth $76,886,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Crews Bank & Trust acquired a new stake in nVent Electric in the fourth quarter valued at $26,000. Tsfg LLC acquired a new stake in nVent Electric in the 4th quarter valued at about $51,000. Raleigh Capital Management Inc. grew its holdings in nVent Electric by 547.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock worth $51,000 after purchasing an additional 635 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in nVent Electric by 26.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock worth $53,000 after buying an additional 162 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in nVent Electric by 243.5% in the fourth quarter. Blue Trust Inc. now owns 869 shares of the company’s stock valued at $61,000 after buying an additional 616 shares during the period. 90.05% of the stock is owned by institutional investors.

nVent Electric Stock Performance

Shares of NYSE:NVT opened at $45.28 on Monday. 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 plc has a 12-month low of $41.90 and a 12-month high of $86.57. The company’s 50 day moving average price is $59.82 and its two-hundred day moving average price is $68.31. The firm has a market cap of $7.47 billion, a PE ratio of 23.10, a PEG ratio of 1.48 and a beta of 1.21.

nVent Electric (NYSE:NVT) last issued 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%. Equities research analysts predict that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors 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 annualized dividend and a yield of 1.77%. nVent Electric’s dividend payout ratio is 40.82%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NVT. Citigroup decreased their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Barclays dropped their price objective on shares of nVent Electric from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Friday. Seaport Res Ptn raised shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a report on Friday, March 21st. KeyCorp lowered their price target on shares of nVent Electric from $84.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Finally, The Goldman Sachs Group reduced their price objective on nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Six equities 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, nVent Electric has an average rating of “Buy” and an average price target of $77.50.

nVent Electric Company 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.