nVent Electric plc (NYSE:NVT) Shares Bought by Clearbridge Investments LLC

Clearbridge Investments LLC lifted its position in shares of nVent Electric plc (NYSE:NVT) by 5.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 779,967 shares of the company’s stock after acquiring an additional 38,891 shares during the quarter. Clearbridge Investments LLC’s holdings in nVent Electric were worth $53,163,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of NVT. MassMutual Private Wealth & Trust FSB boosted 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 purchasing an additional 162 shares in the last quarter. Calamos Advisors LLC boosted its position in shares of nVent Electric by 1.6% in the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock worth $782,000 after buying an additional 176 shares in the last quarter. Keybank National Association OH grew its stake in nVent Electric by 2.5% in the 4th quarter. Keybank National Association OH now owns 9,509 shares of the company’s stock valued at $648,000 after acquiring an additional 229 shares during the last quarter. CIBC Asset Management Inc raised its position in nVent Electric by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 5,078 shares of the company’s stock worth $346,000 after acquiring an additional 255 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of nVent Electric by 25.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,283 shares of the company’s stock valued at $88,000 after purchasing an additional 264 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Stock Down 1.0 %

Shares of NYSE:NVT opened at $52.40 on Tuesday. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The firm has a market cap of $8.65 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 1.48 and a beta of 1.31. The stock’s 50-day moving average price is $61.79 and its two-hundred day moving average price is $68.75. nVent Electric plc has a 12-month low of $50.14 and a 12-month high of $86.57.

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

nVent Electric Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.53%. nVent Electric’s dividend payout ratio is presently 40.82%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NVT shares. Seaport Res Ptn raised shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Citigroup dropped their price target on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada upped their price objective on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. KeyCorp dropped their price objective on nVent Electric from $84.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday. Finally, CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Monday, March 17th. Six equities research analysts have rated the stock with a buy rating and one has given 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 $80.50.

About nVent Electric

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.