Gotham Asset Management LLC Raises Stock Holdings in nVent Electric plc (NYSE:NVT)

Gotham Asset Management LLC raised its position in shares of nVent Electric plc (NYSE:NVT) by 15.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 270,819 shares of the company’s stock after buying an additional 35,921 shares during the period. Gotham Asset Management LLC owned about 0.16% of nVent Electric worth $18,459,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NVT. Capital Research Global Investors purchased a new position in nVent Electric during the 4th quarter valued at about $384,749,000. Norges Bank bought a new position in shares of nVent Electric during the fourth quarter valued at approximately $197,434,000. William Blair Investment Management LLC lifted its stake in nVent Electric by 8.8% in the fourth quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company’s stock worth $176,630,000 after acquiring an additional 210,690 shares during the period. Principal Financial Group Inc. boosted its holdings in nVent Electric by 1.7% in the third quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company’s stock valued at $123,891,000 after acquiring an additional 28,876 shares in the last quarter. Finally, Invesco Ltd. increased its position in nVent Electric by 15.0% during the 4th quarter. Invesco Ltd. now owns 1,723,868 shares of the company’s stock valued at $117,499,000 after purchasing an additional 224,657 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group reduced their price target on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Monday, March 17th. Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Royal Bank of Canada boosted their target price on shares of nVent Electric from $73.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, May 5th. Finally, KeyCorp increased their price target on shares of nVent Electric from $60.00 to $72.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $70.00.

Insider Activity

In related news, EVP Lynnette R. Heath sold 4,041 shares of nVent Electric stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total value of $247,915.35. Following the completion of the sale, the executive vice president now owns 32,665 shares of the company’s stock, valued at $2,003,997.75. The trade was a 11.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.80% of the company’s stock.

nVent Electric Stock Up 1.3 %

NYSE:NVT opened at $61.54 on Friday. 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 firm has a market cap of $10.13 billion, a P/E ratio of 31.40, a P/E/G ratio of 1.48 and a beta of 1.24. nVent Electric plc has a fifty-two week low of $41.71 and a fifty-two week high of $86.57. The firm has a 50-day simple moving average of $53.86 and a two-hundred day simple moving average of $64.93.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $809.30 million during the quarter, compared to analyst estimates of $790.74 million. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.78 EPS. Analysts predict that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 25th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Friday, April 25th. nVent Electric’s dividend payout ratio is currently 22.86%.

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.