NEOS Investment Management LLC Acquires New Shares in nVent Electric plc (NYSE:NVT)

NEOS Investment Management LLC bought a new position in shares of nVent Electric plc (NYSE:NVT) in the fourth quarter, HoldingsChannel reports. The firm bought 6,780 shares of the company’s stock, valued at approximately $462,000.

Several other large investors also recently made changes to their positions in NVT. Crews Bank & Trust bought a new position in shares of nVent Electric during the fourth quarter worth about $26,000. Larson Financial Group LLC increased its position in nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after buying an additional 181 shares during the last quarter. Tsfg LLC bought a new stake in nVent Electric in the 4th quarter valued at $51,000. Raleigh Capital Management Inc. raised 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 purchasing an additional 635 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in nVent Electric by 26.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock valued at $53,000 after acquiring an additional 162 shares during the period. Institutional investors own 90.05% of the company’s stock.

nVent Electric Price Performance

Shares of NYSE NVT opened at $52.89 on Monday. The firm has a market capitalization of $8.73 billion, a P/E ratio of 26.98, a P/E/G ratio of 1.48 and a beta of 1.31. nVent Electric plc has a twelve month low of $51.99 and a twelve month high of $86.57. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The stock’s 50-day simple moving average is $62.19 and its two-hundred day simple moving average is $68.84.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.59 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%. As a group, equities analysts anticipate that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s payout ratio is presently 40.82%.

Analysts Set New Price Targets

Several research analysts have weighed in on NVT shares. 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 report on Monday, March 17th. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. Citigroup lowered their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada increased their price target on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, Barclays dropped their price objective on shares of nVent Electric from $83.00 to $75.00 and set an “overweight” rating for the company in a report on Wednesday, March 26th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $80.50.

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.