Private Trust Co. NA Purchases 848 Shares of nVent Electric plc (NYSE:NVT)

Private Trust Co. NA lifted its stake in shares of nVent Electric plc (NYSE:NVT) by 7.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,352 shares of the company’s stock after buying an additional 848 shares during the quarter. Private Trust Co. NA’s holdings in nVent Electric were worth $842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of NVT. Crews Bank & Trust purchased a new position in shares of nVent Electric during the fourth quarter valued at about $26,000. Larson Financial Group LLC increased its position in shares of nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after buying an additional 181 shares during the period. Huntington National Bank increased its position in shares of nVent Electric by 57.3% during the third quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after buying an additional 223 shares during the period. Brooklyn Investment Group purchased a new position in shares of nVent Electric during the third quarter valued at about $44,000. Finally, Tsfg LLC purchased a new position in shares of nVent Electric during the fourth quarter valued at about $51,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on NVT. Citigroup cut their price objective on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Royal Bank of Canada increased their price target on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Barclays increased their price objective on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $86.33.

nVent Electric Stock Up 0.5 %

Shares of NVT stock opened at $60.25 on Friday. The company has a market capitalization of $9.94 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 1.48 and a beta of 1.26. nVent Electric plc has a one year low of $56.44 and a one year high of $86.57. The company’s fifty day moving average price is $67.75 and its 200-day moving average price is $70.10. 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 announced its quarterly earnings data on Thursday, February 6th. The company reported $0.59 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%. Sell-side analysts expect that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently announced 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 is Friday, April 25th. This represents a $0.80 annualized dividend and a yield of 1.33%. nVent Electric’s payout ratio is 40.82%.

nVent Electric 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.