Factorial Partners LLC Sells 1,900 Shares of nVent Electric plc (NYSE:NVT)

Factorial Partners LLC cut its holdings in nVent Electric plc (NYSE:NVT) by 14.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,000 shares of the company’s stock after selling 1,900 shares during the period. Factorial Partners LLC’s holdings in nVent Electric were worth $750,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Flputnam Investment Management Co. boosted its holdings in nVent Electric by 1.3% in the 4th quarter. Flputnam Investment Management Co. now owns 45,286 shares of the company’s stock worth $3,087,000 after buying an additional 590 shares during the period. Private Trust Co. NA boosted its holdings in nVent Electric by 7.4% in the 4th quarter. Private Trust Co. NA now owns 12,352 shares of the company’s stock worth $842,000 after buying an additional 848 shares during the period. Argyle Capital Management LLC boosted its holdings in nVent Electric by 10.3% in the 4th quarter. Argyle Capital Management LLC now owns 3,932 shares of the company’s stock valued at $268,000 after purchasing an additional 366 shares during the period. QRG Capital Management Inc. boosted its holdings in nVent Electric by 46.6% in the 4th quarter. QRG Capital Management Inc. now owns 5,620 shares of the company’s stock valued at $383,000 after purchasing an additional 1,786 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in nVent Electric in the 4th quarter valued at $3,986,000. 90.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Citigroup cut their price target 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. Royal Bank of Canada raised their price target on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Barclays raised their price target on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $86.33.

nVent Electric Stock Performance

nVent Electric stock opened at $60.25 on Friday. The firm’s fifty day moving average price is $67.75 and its 200-day moving average price is $70.05. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The stock has a market cap of $9.94 billion, a P/E ratio of 30.74, a price-to-earnings-growth ratio of 1.48 and a beta of 1.26. nVent Electric plc has a fifty-two week low of $56.44 and a fifty-two week high of $86.57.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, meeting 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, equities research analysts expect that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Friday, April 25th. nVent Electric’s payout ratio is presently 40.82%.

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.