Natixis Investment Managers International Reduces Position in nVent Electric plc (NYSE:NVT)

Natixis Investment Managers International trimmed its stake in nVent Electric plc (NYSE:NVTFree Report) by 3.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,462 shares of the company’s stock after selling 386 shares during the period. Natixis Investment Managers International’s holdings in nVent Electric were worth $736,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its holdings in nVent Electric by 41.8% during the third quarter. FMR LLC now owns 6,556,055 shares of the company’s stock valued at $347,405,000 after purchasing an additional 1,932,142 shares in the last quarter. Clean Energy Transition LLP boosted its holdings in nVent Electric by 1.6% in the 4th quarter. Clean Energy Transition LLP now owns 2,540,545 shares of the company’s stock worth $150,121,000 after buying an additional 39,169 shares during the period. Norges Bank purchased a new stake in nVent Electric in the 4th quarter worth $109,630,000. Invesco Ltd. raised its holdings in nVent Electric by 21.4% during the third quarter. Invesco Ltd. now owns 1,653,137 shares of the company’s stock valued at $87,600,000 after acquiring an additional 291,426 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in nVent Electric by 50.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,633,421 shares of the company’s stock valued at $96,519,000 after acquiring an additional 547,624 shares during the period. 90.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NVT has been the subject of several research analyst reports. Citigroup increased their target price on nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Barclays increased their price objective on shares of nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday. The Goldman Sachs Group boosted their target price on shares of nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Royal Bank of Canada cut their target price on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of nVent Electric in a research note on Monday, March 11th. They issued a “buy” rating and a $83.00 price target on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, nVent Electric has a consensus rating of “Moderate Buy” and a consensus price target of $89.00.

View Our Latest Analysis on nVent Electric

nVent Electric Price Performance

NVT traded up $0.24 during trading hours on Friday, hitting $76.94. The company’s stock had a trading volume of 1,509,577 shares, compared to its average volume of 1,507,580. nVent Electric plc has a 12 month low of $45.60 and a 12 month high of $86.57. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54. The business’s 50-day moving average price is $77.57 and its 200-day moving average price is $67.33. The stock has a market cap of $12.77 billion, a price-to-earnings ratio of 22.43, a P/E/G ratio of 1.77 and a beta of 1.31.

nVent Electric (NYSE:NVTGet Free Report) last posted its earnings results on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.04. The firm had revenue of $874.60 million for the quarter, compared to the consensus estimate of $864.14 million. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The business’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.67 EPS. Sell-side analysts expect that nVent Electric plc will post 3.27 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Friday, July 19th. nVent Electric’s dividend payout ratio (DPR) is 22.16%.

nVent Electric Profile

(Free Report)

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.

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Institutional Ownership by Quarter for nVent Electric (NYSE:NVT)

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