nVent Electric PLC (NYSE:NVT) Position Increased by LPL Financial LLC

LPL Financial LLC boosted its position in shares of nVent Electric PLC (NYSE:NVT) by 25.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,856 shares of the company’s stock after purchasing an additional 2,607 shares during the period. LPL Financial LLC’s holdings in nVent Electric were worth $289,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Mcrae Capital Management Inc. increased its stake in shares of nVent Electric by 1.5% in the fourth quarter. Mcrae Capital Management Inc. now owns 35,396 shares of the company’s stock worth $795,000 after purchasing an additional 511 shares during the period. First Hawaiian Bank increased its stake in shares of nVent Electric by 64.0% in the fourth quarter. First Hawaiian Bank now owns 1,604 shares of the company’s stock worth $36,000 after purchasing an additional 626 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of nVent Electric by 1.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 64,872 shares of the company’s stock worth $1,457,000 after purchasing an additional 1,170 shares during the period. Arizona State Retirement System increased its stake in shares of nVent Electric by 1.3% in the fourth quarter. Arizona State Retirement System now owns 117,191 shares of the company’s stock worth $2,632,000 after purchasing an additional 1,506 shares during the period. Finally, Comerica Bank increased its stake in shares of nVent Electric by 1.5% in the fourth quarter. Comerica Bank now owns 120,270 shares of the company’s stock worth $2,984,000 after purchasing an additional 1,786 shares during the period. Institutional investors own 87.08% of the company’s stock.

NVT stock traded up $0.20 during trading on Wednesday, reaching $28.40. 1,754,900 shares of the stock were exchanged, compared to its average volume of 1,004,541. The company has a quick ratio of 1.34, a current ratio of 1.83 and a debt-to-equity ratio of 0.35. The company has a market cap of $5.00 billion and a PE ratio of 16.32. nVent Electric PLC has a twelve month low of $19.71 and a twelve month high of $29.84.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Thursday, January 31st. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.01). The company had revenue of $568.10 million for the quarter, compared to analyst estimates of $547.30 million. nVent Electric had a net margin of 10.43% and a return on equity of 10.08%. On average, equities research analysts anticipate that nVent Electric PLC will post 1.88 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Thursday, April 18th will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Wednesday, April 17th. nVent Electric’s payout ratio is 40.23%.

A number of equities analysts have recently commented on the company. Buckingham Research assumed coverage on nVent Electric in a research note on Tuesday, March 26th. They issued a “buy” rating and a $30.00 price objective on the stock. Zacks Investment Research upgraded nVent Electric from a “sell” rating to a “hold” rating in a research note on Friday, February 1st. ValuEngine lowered nVent Electric from a “hold” rating to a “sell” rating in a research note on Monday, April 1st. KeyCorp reissued a “buy” rating and set a $30.00 target price (up from $29.00) on shares of nVent Electric in a research report on Wednesday, February 27th. Finally, Vertical Research raised nVent Electric from a “hold” rating to a “buy” rating in a research report on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. nVent Electric has an average rating of “Buy” and an average price target of $28.86.

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nVent Electric Profile

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.

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Institutional Ownership by Quarter for nVent Electric (NYSE:NVT)

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