Huntington National Bank Has $67,000 Position in nVent Electric plc (NYSE:NVT)

Huntington National Bank increased its position in shares of nVent Electric plc (NYSE:NVT) by 60.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 985 shares of the company’s stock after acquiring an additional 373 shares during the period. Huntington National Bank’s holdings in nVent Electric were worth $67,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Franklin Resources Inc. increased its stake in shares of nVent Electric by 22.1% in the 3rd quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after purchasing an additional 1,269,335 shares during the last quarter. State Street Corp boosted its stake in nVent Electric by 0.9% in the third quarter. State Street Corp now owns 5,031,623 shares of the company’s stock valued at $353,522,000 after buying an additional 42,465 shares in the last quarter. Norges Bank bought a new position in nVent Electric in the fourth quarter valued at about $197,434,000. Geode Capital Management LLC raised its stake 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 worth $194,894,000 after acquiring an additional 29,794 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in shares of 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 last quarter. 90.05% of the stock is owned by institutional investors.

nVent Electric Price Performance

nVent Electric stock opened at $45.28 on Monday. The stock’s 50 day moving average is $59.82 and its 200 day moving average is $68.31. nVent Electric plc has a one year low of $41.90 and a one year high of $86.57. The firm has a market cap of $7.47 billion, a P/E ratio of 23.10, a P/E/G ratio of 1.48 and a beta of 1.21. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. As a group, research analysts expect that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a yield of 1.77%. nVent Electric’s payout ratio is currently 40.82%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Monday, March 17th. The Goldman Sachs Group dropped their price target on nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Royal Bank of Canada boosted their price objective on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. KeyCorp dropped their target price on nVent Electric from $84.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Finally, Citigroup reduced their price target on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $77.50.

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.