Congress Wealth Management LLC DE Has $17.11 Million Holdings in nVent Electric plc (NYSE:NVT)

Congress Wealth Management LLC DE decreased its holdings in nVent Electric plc (NYSE:NVT) by 2.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 250,982 shares of the company’s stock after selling 7,111 shares during the quarter. Congress Wealth Management LLC DE owned 0.15% of nVent Electric worth $17,107,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of nVent Electric during the 3rd quarter valued at $2,877,000. Advisors Asset Management Inc. lifted its position in nVent Electric by 5.1% during the third quarter. Advisors Asset Management Inc. now owns 6,153 shares of the company’s stock worth $432,000 after purchasing an additional 301 shares during the period. Charles Schwab Investment Management Inc. grew its stake in nVent Electric by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,035,463 shares of the company’s stock worth $72,752,000 after buying an additional 3,599 shares in the last quarter. Citigroup Inc. increased its holdings in nVent Electric by 3.3% in the 3rd quarter. Citigroup Inc. now owns 62,044 shares of the company’s stock valued at $4,359,000 after buying an additional 1,959 shares during the period. Finally, Cerity Partners LLC raised its position in shares of nVent Electric by 145.7% in the 3rd quarter. Cerity Partners LLC now owns 45,248 shares of the company’s stock valued at $3,179,000 after buying an additional 26,832 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NVT. Royal Bank of Canada increased their price target on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Citigroup decreased their price target on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Seaport Res Ptn upgraded nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday. Barclays decreased their target price on nVent Electric from $88.00 to $83.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Finally, CL King raised shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a report on Monday, March 17th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $83.33.

nVent Electric Price Performance

Shares of NVT opened at $58.72 on Tuesday. The business has a 50-day simple moving average of $63.43 and a two-hundred day simple moving average of $69.03. nVent Electric plc has a 12-month low of $51.99 and a 12-month high of $86.57. The stock has a market cap of $9.69 billion, a PE ratio of 29.96, a PEG ratio of 1.48 and a beta of 1.31. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. 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 disclosed 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 1.36%. nVent Electric’s dividend payout ratio is 40.82%.

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.