Amalgamated Bank Sells 1,006 Shares of nVent Electric plc (NYSE:NVT)

Amalgamated Bank decreased its position in nVent Electric plc (NYSE:NVT) by 1.3% during the fourth quarter, Holdings Channel reports. The fund owned 78,186 shares of the company’s stock after selling 1,006 shares during the period. Amalgamated Bank’s holdings in nVent Electric were worth $5,329,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nordea Investment Management AB lifted its stake in shares of nVent Electric by 16.9% in the 4th quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock worth $6,378,000 after purchasing an additional 13,483 shares during the period. Geode Capital Management LLC increased its holdings in nVent Electric by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock valued at $194,894,000 after buying an additional 29,794 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in nVent Electric in the fourth quarter worth approximately $1,520,000. TT International Asset Management LTD boosted its stake in shares of nVent Electric by 20.4% during the 4th quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock worth $7,388,000 after acquiring an additional 18,376 shares during the last quarter. Finally, LVM Capital Management Ltd. MI grew its position in shares of nVent Electric by 8.1% during the 4th quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock valued at $10,307,000 after acquiring an additional 11,349 shares during the period. 90.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NVT shares. Citigroup decreased their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Barclays raised their price objective on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Royal Bank of Canada boosted their price objective on 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, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $86.33.

nVent Electric Stock Performance

NYSE NVT opened at $59.87 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. nVent Electric plc has a twelve month low of $56.44 and a twelve month high of $86.57. The business has a 50-day moving average price of $67.94 and a 200-day moving average price of $70.07. The firm has a market cap of $9.88 billion, a price-to-earnings ratio of 30.55, a price-to-earnings-growth ratio of 1.48 and a beta of 1.26.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. As a group, equities research analysts predict that nVent Electric plc will post 3.04 EPS 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. Stockholders of record on Friday, April 25th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.34%. nVent Electric’s payout ratio is 40.82%.

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.