nVent Electric plc (NYSE:NVT) Stock Holdings Lessened by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its stake in nVent Electric plc (NYSE:NVT) by 80.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,284 shares of the company’s stock after selling 156,643 shares during the period. Hsbc Holdings PLC’s holdings in nVent Electric were worth $2,623,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Crews Bank & Trust acquired a new stake in nVent Electric during the 4th quarter valued at $26,000. Tsfg LLC acquired a new stake in nVent Electric during the 4th quarter valued at $51,000. Raleigh Capital Management Inc. raised its stake in 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 period. MassMutual Private Wealth & Trust FSB raised its stake in nVent Electric by 26.5% during 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 period. Finally, Blue Trust Inc. raised its stake in nVent Electric by 243.5% during the 4th quarter. Blue Trust Inc. now owns 869 shares of the company’s stock valued at $61,000 after purchasing an additional 616 shares during the period. Institutional investors own 90.05% of the company’s stock.

nVent Electric Price Performance

nVent Electric stock opened at $54.84 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. nVent Electric plc has a 52 week low of $41.71 and a 52 week high of $86.57. The firm has a market cap of $9.03 billion, a P/E ratio of 27.98, a P/E/G ratio of 1.48 and a beta of 1.21. The business’s fifty day moving average is $53.72 and its two-hundred day moving average is $65.63.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) 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%. Equities research analysts forecast that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

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. The ex-dividend date 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%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Barclays dropped their price target on shares of nVent Electric from $70.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Royal Bank of Canada upped their price target on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. The Goldman Sachs Group decreased their price objective on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. KeyCorp decreased their price objective on shares of nVent Electric from $75.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, 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. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $69.00.

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.