Boston Partners Sells 1,652,444 Shares of nVent Electric plc (NYSE:NVT)

Boston Partners lowered its holdings in nVent Electric plc (NYSE:NVT) by 98.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,079 shares of the company’s stock after selling 1,652,444 shares during the period. Boston Partners’ holdings in nVent Electric were worth $1,300,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB bought a new position in shares of nVent Electric in the 3rd quarter valued at about $110,663,000. Franklin Resources Inc. boosted its position in nVent Electric by 22.1% during the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after purchasing an additional 1,269,335 shares during the last quarter. Clean Energy Transition LLP grew its stake in nVent Electric by 56.5% in the third quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock valued at $158,411,000 after purchasing an additional 813,909 shares in the last quarter. Impax Asset Management Group plc increased its position in shares of nVent Electric by 2,764.1% during the 4th quarter. Impax Asset Management Group plc now owns 647,304 shares of the company’s stock worth $43,626,000 after purchasing an additional 624,703 shares during the last quarter. Finally, Artemis Investment Management LLP raised its stake in shares of nVent Electric by 235.9% during the 4th quarter. Artemis Investment Management LLP now owns 763,075 shares of the company’s stock worth $52,011,000 after purchasing an additional 535,881 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

nVent Electric Stock Up 0.4 %

nVent Electric stock opened at $57.11 on Friday. The company’s 50-day moving average price is $63.63 and its two-hundred day moving average price is $69.01. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The stock has a market cap of $9.42 billion, a P/E ratio of 29.14, a P/E/G ratio of 1.48 and a beta of 1.31. nVent Electric plc has a twelve month low of $51.99 and a twelve month high of $86.57.

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

nVent Electric Dividend Announcement

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 1.40%. nVent Electric’s dividend payout ratio (DPR) is presently 40.82%.

Analysts Set New Price Targets

NVT has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted their target price on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday. Barclays cut their target price on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Monday, March 17th. Finally, Citigroup cut their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $83.33.

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.