Alliancebernstein L.P. Sells 903 Shares of nVent Electric plc (NYSE:NVT)

Alliancebernstein L.P. cut its holdings in nVent Electric plc (NYSE:NVT) by 0.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 956,772 shares of the company’s stock after selling 903 shares during the period. Alliancebernstein L.P.’s holdings in nVent Electric were worth $65,214,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Franklin Resources Inc. lifted its stake in nVent Electric by 22.1% in the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after buying an additional 1,269,335 shares during the period. State Street Corp increased its stake in shares of nVent Electric by 0.9% in the 3rd quarter. State Street Corp now owns 5,031,623 shares of the company’s stock valued at $353,522,000 after acquiring an additional 42,465 shares in the last quarter. Norges Bank bought a new position in nVent Electric during the fourth quarter worth $197,434,000. Geode Capital Management LLC grew its holdings in nVent Electric by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after purchasing an additional 29,794 shares during the period. Finally, William Blair Investment Management LLC increased 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 valued at $176,630,000 after purchasing an additional 210,690 shares in the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. KeyCorp reduced their target price on nVent Electric from $84.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. The Goldman Sachs Group reduced their price objective on nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday. Citigroup lowered their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Finally, Royal Bank of Canada raised their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, nVent Electric currently has an average rating of “Buy” and an average price target of $77.50.

nVent Electric Trading Down 6.3 %

Shares of nVent Electric stock opened at $45.28 on Friday. The stock has a fifty day moving average price of $59.82 and a 200-day moving average price of $68.29. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The firm has a market cap of $7.47 billion, a PE ratio of 23.10, a P/E/G ratio of 1.48 and a beta of 1.21. nVent Electric plc has a 1 year low of $41.90 and a 1 year high of $86.57.

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

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is 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.