Benjamin F. Edwards & Company Inc. cut its holdings in nVent Electric PLC (NYSE:NVT) by 39.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,952 shares of the company’s stock after selling 1,267 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in nVent Electric were worth $44,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. First Hawaiian Bank grew its holdings in nVent Electric by 64.0% during the 4th quarter. First Hawaiian Bank now owns 1,604 shares of the company’s stock valued at $36,000 after purchasing an additional 626 shares during the last quarter. Farmers & Merchants Investments Inc. bought a new position in nVent Electric during the 3rd quarter valued at about $100,000. Stratos Wealth Partners LTD. bought a new position in nVent Electric during the 3rd quarter valued at about $102,000. TRUE Private Wealth Advisors bought a new position in nVent Electric during the 3rd quarter valued at about $114,000. Finally, Oppenheimer Asset Management Inc. bought a new position in nVent Electric during the 4th quarter valued at about $156,000. Hedge funds and other institutional investors own 85.74% of the company’s stock.
NVT has been the topic of several analyst reports. Goldman Sachs Group upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and cut their price target for the company from $31.00 to $30.00 in a report on Friday, October 26th. Zacks Investment Research downgraded shares of nVent Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, October 30th. Finally, Vertical Research began coverage on shares of nVent Electric in a research note on Tuesday, November 20th. They issued a “hold” rating and a $28.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $28.50.
Shares of NVT stock opened at $26.31 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.34 and a current ratio of 1.83. The stock has a market capitalization of $4.67 billion and a price-to-earnings ratio of 15.12. nVent Electric PLC has a one year low of $19.71 and a one year high of $29.84.
nVent Electric (NYSE:NVT) last issued its earnings results on Thursday, January 31st. The company reported $0.45 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.01). The company had revenue of $568.10 million during the quarter, compared to the consensus estimate of $547.30 million. nVent Electric had a return on equity of 10.08% and a net margin of 10.43%. On average, equities analysts forecast that nVent Electric PLC will post 1.87 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 8th. Stockholders of record on Friday, January 25th were given a $0.175 dividend. The ex-dividend date was Thursday, January 24th. This represents a $0.70 annualized dividend and a dividend yield of 2.66%. nVent Electric’s payout ratio is presently 40.23%.
nVent Electric Profile
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products and solutions in the United States, Canada, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.
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