Legal & General Group Plc Lowers Position in nVent Electric plc (NYSE:NVT)

Legal & General Group Plc decreased its stake in shares of nVent Electric plc (NYSE:NVT) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 431,958 shares of the company’s stock after selling 19,425 shares during the period. Legal & General Group Plc owned about 0.26% of nVent Electric worth $29,442,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Crews Bank & Trust purchased a new stake in shares of nVent Electric during the fourth quarter valued at approximately $26,000. Tsfg LLC bought a new position in nVent Electric in the 4th quarter valued at $51,000. Raleigh Capital Management Inc. increased its position in shares of nVent Electric by 547.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock valued at $51,000 after purchasing an additional 635 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of nVent Electric by 26.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock worth $53,000 after purchasing an additional 162 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of nVent Electric by 243.5% in the 4th quarter. Blue Trust Inc. now owns 869 shares of the company’s stock worth $61,000 after buying an additional 616 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Price Performance

nVent Electric stock opened at $49.73 on Friday. 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 plc has a one year low of $41.71 and a one year high of $86.57. The firm has a market capitalization of $8.19 billion, a P/E ratio of 25.37, a PEG ratio of 1.48 and a beta of 1.21. The business has a fifty day moving average price of $57.63 and a 200-day moving average price of $67.28.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. As a group, equities research analysts forecast that nVent Electric plc will post 3.04 EPS for the current 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 given a $0.20 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.61%. nVent Electric’s dividend payout ratio (DPR) is presently 40.82%.

Analyst Ratings Changes

Several analysts have commented on NVT shares. CL King raised shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Monday, March 17th. KeyCorp lowered their price target on shares of nVent Electric from $75.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada increased their price objective on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Seaport Res Ptn upgraded nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Finally, The Goldman Sachs Group cut their price target on nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $74.17.

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.