nVent Electric plc (NYSE:NVT) Shares Sold by National Bank of Canada FI

National Bank of Canada FI reduced its stake in shares of nVent Electric plc (NYSE:NVT) by 92.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,239 shares of the company’s stock after selling 233,450 shares during the period. National Bank of Canada FI’s holdings in nVent Electric were worth $1,243,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in NVT. Crews Bank & Trust acquired a new position in nVent Electric in the 4th quarter worth approximately $26,000. Tsfg LLC acquired a new stake in shares of nVent Electric in the fourth quarter worth $51,000. Raleigh Capital Management Inc. increased its stake in shares of nVent Electric by 547.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock worth $51,000 after acquiring an additional 635 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in shares of nVent Electric by 26.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock worth $53,000 after purchasing an additional 162 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in nVent Electric by 243.5% during the fourth quarter. Blue Trust Inc. now owns 869 shares of the company’s stock valued at $61,000 after purchasing an additional 616 shares during the period. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Trading Down 3.4 %

Shares of NVT stock opened at $44.69 on Wednesday. nVent Electric plc has a 1-year low of $41.71 and a 1-year high of $86.57. The company has a market cap of $7.37 billion, a price-to-earnings ratio of 22.80, a PEG 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. The stock has a 50 day simple moving average of $58.73 and a 200-day simple moving average of $67.79.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. On average, equities research analysts expect that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders 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 1.79%. nVent Electric’s dividend payout ratio (DPR) is currently 40.82%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. Barclays reduced their price target on nVent Electric from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Friday, April 4th. Royal Bank of Canada upped 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. The Goldman Sachs Group cut their target price on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Finally, CL King raised shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Monday, March 17th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $75.00.

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.