Oppenheimer Asset Management Inc. Trims Position in nVent Electric plc (NYSE:NVT)

Oppenheimer Asset Management Inc. decreased its position in shares of nVent Electric plc (NYSE:NVT) by 4.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,097 shares of the company’s stock after selling 1,066 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in nVent Electric were worth $1,506,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in nVent Electric by 22.3% during the fourth quarter. Bank of New York Mellon Corp now owns 1,718,368 shares of the company’s stock valued at $117,124,000 after acquiring an additional 312,982 shares during the period. Impax Asset Management Group plc grew its position in shares of nVent Electric by 2,764.1% during the fourth quarter. Impax Asset Management Group plc now owns 647,304 shares of the company’s stock worth $43,626,000 after purchasing an additional 624,703 shares in the last quarter. World Equity Group Inc. raised its stake in nVent Electric by 100.0% during the 4th quarter. World Equity Group Inc. now owns 6,940 shares of the company’s stock valued at $473,000 after purchasing an additional 3,470 shares during the period. TCW Group Inc. lifted its holdings in nVent Electric by 26.7% in the 4th quarter. TCW Group Inc. now owns 287,426 shares of the company’s stock worth $19,591,000 after purchasing an additional 60,524 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in nVent Electric by 83.2% during the 4th quarter. Allianz Asset Management GmbH now owns 586,370 shares of the company’s stock valued at $39,967,000 after buying an additional 266,267 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on NVT. Royal Bank of Canada boosted their target price on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Barclays decreased their price target on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Citigroup dropped their price objective 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. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $85.50.

nVent Electric Price Performance

NVT stock opened at $56.31 on Tuesday. The company has a fifty day simple moving average of $67.49 and a two-hundred day simple moving average of $70.06. nVent Electric plc has a 52 week low of $55.69 and a 52 week 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 firm has a market capitalization of $9.29 billion, a P/E ratio of 28.73, a price-to-earnings-growth ratio of 1.48 and a beta of 1.26.

nVent Electric (NYSE:NVT) last released its earnings results 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 return on equity of 14.52% and a net margin of 10.09%. Analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The company also recently disclosed 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 1.42%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is currently 40.82%.

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.