nVent Electric plc (NYSE:NVT) Shares Sold by Engle Capital Management L.P.

Engle Capital Management L.P. reduced its position in shares of nVent Electric plc (NYSE:NVT) by 8.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,000 shares of the company’s stock after selling 11,023 shares during the period. nVent Electric accounts for about 2.6% of Engle Capital Management L.P.’s investment portfolio, making the stock its 17th largest position. Engle Capital Management L.P. owned about 0.08% of nVent Electric worth $8,520,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NVT. Quadrant Capital Group LLC increased its position in nVent Electric by 4.1% during the fourth quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company’s stock worth $259,000 after purchasing an additional 150 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of nVent Electric by 26.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock worth $53,000 after buying an additional 162 shares during the last quarter. Calamos Advisors LLC raised its position in shares of nVent Electric by 1.6% in the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock worth $782,000 after buying an additional 176 shares during the period. Utah Retirement Systems boosted its holdings in nVent Electric by 2.3% in the fourth quarter. Utah Retirement Systems now owns 8,923 shares of the company’s stock valued at $608,000 after acquiring an additional 200 shares during the last quarter. Finally, Hancock Whitney Corp increased its stake in nVent Electric by 1.4% during the fourth quarter. Hancock Whitney Corp now owns 15,031 shares of the company’s stock worth $1,025,000 after acquiring an additional 206 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analysts Set New Price Targets

NVT has been the subject of a number of research reports. Royal Bank of Canada boosted their target price on nVent Electric from $73.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday. The Goldman Sachs Group dropped their price objective on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Monday, March 17th. 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. Finally, Barclays raised their price objective on nVent Electric from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, nVent Electric has a consensus rating of “Buy” and an average price target of $70.00.

nVent Electric Stock Performance

Shares of NVT stock opened at $60.81 on Friday. 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 company’s fifty day moving average price is $53.73 and its two-hundred day moving average price is $65.01. The firm has a market capitalization of $10.01 billion, a P/E ratio of 31.03, a P/E/G ratio of 1.48 and a beta of 1.24. nVent Electric plc has a 12 month low of $41.71 and a 12 month high of $86.57.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Friday, May 2nd. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. The firm had revenue of $809.30 million during the quarter, compared to the consensus estimate of $790.74 million. During the same quarter in the prior year, the business posted $0.78 earnings per share. nVent Electric’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, research analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently announced 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 dividend yield of 1.32%. nVent Electric’s dividend payout ratio (DPR) is 22.86%.

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.