nVent Electric plc (NYSE:NVT) Shares Acquired by Hancock Whitney Corp

Hancock Whitney Corp lifted its stake in nVent Electric plc (NYSE:NVT) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,031 shares of the company’s stock after purchasing an additional 206 shares during the quarter. Hancock Whitney Corp’s holdings in nVent Electric were worth $1,025,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NVT. Crews Bank & Trust purchased a new position in shares of nVent Electric during the 4th quarter worth $26,000. Tsfg LLC purchased a new position in nVent Electric during the fourth quarter worth about $51,000. Raleigh Capital Management Inc. boosted its holdings in nVent Electric by 547.4% in 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 boosted its holdings in nVent Electric by 26.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock valued at $53,000 after purchasing an additional 162 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in nVent Electric by 243.5% in the fourth quarter. Blue Trust Inc. now owns 869 shares of the company’s stock valued at $61,000 after acquiring an additional 616 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Citigroup cut their target price on nVent Electric from $85.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Royal Bank of Canada boosted their price target on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Barclays dropped their target price on shares of nVent Electric from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Seaport Res Ptn upgraded nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Finally, CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a research note 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 stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $69.00.

nVent Electric Stock Up 0.4 %

Shares of NYSE NVT opened at $54.86 on Friday. nVent Electric plc has a 12-month low of $41.71 and a 12-month high of $86.57. The stock has a market cap of $9.03 billion, a P/E ratio of 27.99, a PEG ratio of 1.48 and a beta of 1.21. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The business’s fifty day simple moving average is $54.37 and its 200-day simple moving average is $65.99.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.59 EPS 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, equities analysts predict that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.46%. nVent Electric’s dividend payout ratio (DPR) is currently 40.82%.

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.