Swiss National Bank grew its holdings in shares of nVent Electric plc (NYSE:NVT – Free Report) by 0.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 360,687 shares of the company’s stock after purchasing an additional 1,200 shares during the period. Swiss National Bank owned approximately 0.22% of nVent Electric worth $18,637,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of NVT. Raymond James Financial Services Advisors Inc. increased its holdings in shares of nVent Electric by 9.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,999 shares of the company’s stock valued at $383,000 after purchasing an additional 923 shares during the period. AlphaCrest Capital Management LLC increased its holdings in shares of nVent Electric by 36.8% during the first quarter. AlphaCrest Capital Management LLC now owns 11,498 shares of the company’s stock valued at $400,000 after purchasing an additional 3,093 shares during the period. Natixis Advisors L.P. increased its holdings in shares of nVent Electric by 15.4% during the first quarter. Natixis Advisors L.P. now owns 43,511 shares of the company’s stock valued at $1,514,000 after purchasing an additional 5,807 shares during the period. Bank of Montreal Can boosted its stake in nVent Electric by 10.6% during the first quarter. Bank of Montreal Can now owns 21,601 shares of the company’s stock valued at $768,000 after buying an additional 2,072 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in nVent Electric by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 61,657 shares of the company’s stock valued at $2,144,000 after buying an additional 5,879 shares in the last quarter. 87.76% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on the company. Citigroup assumed coverage on nVent Electric in a research note on Tuesday, October 3rd. They set a “buy” rating and a $62.00 target price for the company. Barclays decreased their target price on nVent Electric from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, October 30th. William Blair assumed coverage on nVent Electric in a research note on Thursday, July 27th. They set an “outperform” rating for the company. Seaport Res Ptn reaffirmed a “neutral” rating on shares of nVent Electric in a research note on Monday, August 7th. Finally, Royal Bank of Canada decreased their price target on nVent Electric from $60.00 to $57.00 and set an “outperform” rating for the company in a research report on Monday, October 30th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, nVent Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.50.
nVent Electric Trading Up 1.0 %
NYSE:NVT opened at $53.17 on Monday. The company has a quick ratio of 1.27, a current ratio of 1.97 and a debt-to-equity ratio of 0.62. nVent Electric plc has a 1-year low of $36.70 and a 1-year high of $58.98. The firm has a market capitalization of $8.82 billion, a price-to-earnings ratio of 18.99 and a beta of 1.33. The stock has a fifty day simple moving average of $51.85 and a 200 day simple moving average of $50.55.
nVent Electric (NYSE:NVT – Get Free Report) last released its quarterly earnings results on Friday, October 27th. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.11. nVent Electric had a return on equity of 17.44% and a net margin of 14.98%. The business had revenue of $859.00 million during the quarter, compared to analyst estimates of $881.99 million. During the same quarter last year, the company posted $0.66 EPS. nVent Electric’s revenue for the quarter was up 15.3% on a year-over-year basis. Sell-side analysts forecast that nVent Electric plc will post 3.02 earnings per share for the current year.
nVent Electric Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 3rd. Shareholders of record on Friday, October 20th were given a dividend of $0.175 per share. The ex-dividend date of this dividend was Thursday, October 19th. This represents a $0.70 dividend on an annualized basis and a yield of 1.32%. nVent Electric’s payout ratio is presently 25.00%.
nVent Electric Company Profile
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products worldwide. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management. The Enclosures segment provides solutions to connect and protect critical electronics, communication, control, and power equipment; physical infrastructure solutions to host, connect, and protect server and network equipment; indoor and outdoor protection for test and measurement and aerospace and defense applications in industrial, infrastructure, commercial, and energy verticals; and metallic and non-metallic enclosures, cabinets, sub racks, and backplanes.
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