nVent Electric plc (NYSE:NVT) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in shares of nVent Electric plc (NYSE:NVT) by 22.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 332,414 shares of the company’s stock after selling 97,201 shares during the quarter. Thrivent Financial for Lutherans’ holdings in nVent Electric were worth $22,657,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Swedbank AB purchased a new stake in nVent Electric during the 3rd quarter worth about $110,663,000. Franklin Resources Inc. lifted its stake in nVent Electric by 22.1% during the third 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 during the last quarter. Clean Energy Transition LLP boosted its holdings in nVent Electric by 56.5% in the third quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock valued at $158,411,000 after purchasing an additional 813,909 shares in the last quarter. Impax Asset Management Group plc boosted its holdings in nVent Electric by 2,764.1% in the fourth quarter. Impax Asset Management Group plc now owns 647,304 shares of the company’s stock valued at $43,626,000 after purchasing an additional 624,703 shares in the last quarter. Finally, Artemis Investment Management LLP increased its stake in nVent Electric by 235.9% in the fourth quarter. Artemis Investment Management LLP now owns 763,075 shares of the company’s stock valued at $52,011,000 after purchasing an additional 535,881 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Down 0.0 %

Shares of NYSE:NVT opened at $56.85 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The stock has a market cap of $9.38 billion, a P/E ratio of 29.01, a P/E/G ratio of 1.48 and a beta of 1.31. nVent Electric plc has a 1-year low of $51.99 and a 1-year high of $86.57. The firm has a fifty day moving average price of $63.87 and a 200 day moving average price of $69.05.

nVent Electric (NYSE:NVT) last released 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%. Sell-side analysts predict that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is presently 40.82%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on NVT shares. Citigroup lowered their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Barclays reduced their price target on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Monday. Finally, Royal Bank of Canada boosted their target price on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $83.33.

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.