nVent Electric plc (NYSE:NVT) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its position in shares of nVent Electric plc (NYSE:NVT) by 50.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,598,942 shares of the company’s stock after selling 1,641,252 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.97% of nVent Electric worth $108,984,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB lifted its holdings in nVent Electric by 16.9% in the fourth quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock valued at $6,378,000 after acquiring an additional 13,483 shares during the last quarter. Geode Capital Management LLC raised 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 during the period. Harbor Capital Advisors Inc. acquired a new position in nVent Electric in the fourth quarter valued at about $1,520,000. TT International Asset Management LTD raised its stake in shares of 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 acquiring an additional 18,376 shares during the period. Finally, LVM Capital Management Ltd. MI lifted its holdings in shares of nVent Electric by 8.1% in the 4th quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock worth $10,307,000 after acquiring an additional 11,349 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Price Performance

Shares of NVT opened at $45.28 on Friday. The firm has a fifty day moving average price of $59.82 and a 200 day moving average price of $68.29. The stock has a market cap of $7.47 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. nVent Electric plc has a 1-year low of $41.90 and a 1-year high of $86.57. 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 earnings per share 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%. As a group, sell-side analysts anticipate that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is presently 40.82%.

Wall Street Analysts Forecast Growth

NVT has been the subject of several research analyst reports. The Goldman Sachs Group lowered their price target on nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday. CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Monday, March 17th. Barclays dropped their price target on shares of nVent Electric from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Friday. Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. Finally, KeyCorp lowered their price objective on nVent Electric from $84.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, nVent Electric presently has a consensus rating of “Buy” and a consensus target price of $77.50.

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.