Proficio Capital Partners LLC Buys Shares of 58,481 nVent Electric plc (NYSE:NVT)

Proficio Capital Partners LLC bought a new stake in nVent Electric plc (NYSE:NVT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 58,481 shares of the company’s stock, valued at approximately $3,986,000.

Other large investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its holdings in nVent Electric by 16.9% in the 4th quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock valued at $6,378,000 after buying an additional 13,483 shares in the last quarter. Geode Capital Management LLC grew its holdings in nVent Electric by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock valued at $194,894,000 after buying an additional 29,794 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in nVent Electric in the 4th quarter valued at $1,520,000. TT International Asset Management LTD grew its holdings in nVent Electric by 20.4% in the 4th quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock valued at $7,388,000 after buying an additional 18,376 shares in the last quarter. Finally, LVM Capital Management Ltd. MI grew its holdings in nVent Electric by 8.1% in the 4th quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock valued at $10,307,000 after buying an additional 11,349 shares in the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NVT has been the subject of several analyst reports. Citigroup dropped their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Barclays lowered their price target on nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a report on Monday. Finally, Royal Bank of Canada increased their price target on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $85.50.

nVent Electric Stock Performance

NYSE NVT opened at $55.12 on Wednesday. The stock has a market cap of $9.10 billion, a PE ratio of 28.12, a P/E/G ratio of 1.48 and a beta of 1.31. 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 plc has a twelve month low of $53.30 and a twelve month high of $86.57. The stock has a fifty day simple moving average of $67.19 and a 200-day simple moving average of $69.99.

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

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is 40.82%.

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.