Bank of Montreal Can decreased its holdings in nVent Electric plc (NYSE:NVT – Free Report) by 12.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,523 shares of the company’s stock after selling 10,935 shares during the quarter. Bank of Montreal Can’s holdings in nVent Electric were worth $5,488,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in NVT. Franklin Resources Inc. boosted its holdings in nVent Electric by 22.1% in the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock worth $527,374,000 after acquiring an additional 1,269,335 shares in the last quarter. Norges Bank acquired a new stake in nVent Electric in the 4th quarter worth approximately $197,434,000. Geode Capital Management LLC grew its position in nVent Electric by 1.1% during the 3rd 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 last quarter. William Blair Investment Management LLC increased its stake in nVent Electric by 8.8% during the 4th 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. Finally, Principal Financial Group Inc. raised its holdings in shares of nVent Electric by 1.7% in the third quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company’s stock worth $123,891,000 after buying an additional 28,876 shares during the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.
nVent Electric Trading Up 0.4 %
nVent Electric stock opened at $50.04 on Tuesday. The firm has a market cap of $8.24 billion, a PE ratio of 25.53, a P/E/G ratio of 1.48 and a beta of 1.21. nVent Electric plc has a 12 month low of $41.71 and a 12 month high of $86.57. The stock’s 50 day simple moving average is $57.36 and its two-hundred day simple moving average is $67.10. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65.
nVent Electric Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.60%. nVent Electric’s dividend payout ratio is presently 40.82%.
Analysts Set New Price Targets
NVT has been the topic of several research reports. The Goldman Sachs Group cut their target price on nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Royal Bank of Canada increased their price objective on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Barclays decreased their target price on nVent Electric from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. KeyCorp cut their price target on shares of nVent Electric from $75.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Finally, 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 note on Monday, March 17th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $69.00.
View Our Latest Stock Analysis on nVent Electric
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.
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