Bearing Point Capital LLC Invests $4.33 Million in nVent Electric plc (NYSE:NVT)

Bearing Point Capital LLC bought a new position in nVent Electric plc (NYSE:NVT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 63,522 shares of the company’s stock, valued at approximately $4,330,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVT. Capital Research Global Investors purchased a new position in shares of nVent Electric in the 4th quarter worth about $384,749,000. Norges Bank acquired a new stake in nVent Electric during the 4th quarter worth approximately $197,434,000. Champlain Investment Partners LLC purchased a new position in nVent Electric in the fourth quarter valued at approximately $86,738,000. Franklin Resources Inc. lifted its position in nVent Electric by 22.1% during 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 in the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in nVent Electric by 3,186.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 711,343 shares of the company’s stock valued at $48,485,000 after purchasing an additional 689,701 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Price Performance

Shares of NVT opened at $59.80 on Friday. nVent Electric plc has a 52 week low of $41.71 and a 52 week high of $86.57. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The firm has a market cap of $9.85 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 1.48 and a beta of 1.24. The stock has a 50 day moving average of $53.63 and a 200-day moving average of $65.35.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Friday, May 2nd. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $809.30 million during the quarter, compared to the consensus estimate 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 was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 earnings per share. As a group, analysts forecast that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 annualized dividend and a yield of 1.34%. nVent Electric’s dividend payout ratio (DPR) is 22.86%.

Analyst Ratings Changes

Several equities analysts recently commented on NVT shares. Citigroup reduced their price target on nVent Electric from $85.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Monday, March 17th. The Goldman Sachs Group cut their price target on nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Barclays lowered their price objective on nVent Electric from $70.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Finally, Seaport Res Ptn raised shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $69.00.

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.