Parkside Financial Bank & Trust Sells 200 Shares of nVent Electric plc (NYSE:NVT)

Parkside Financial Bank & Trust trimmed its position in nVent Electric plc (NYSE:NVT) by 26.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 564 shares of the company’s stock after selling 200 shares during the period. Parkside Financial Bank & Trust’s holdings in nVent Electric were worth $38,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of NVT. Swedbank AB acquired a new position in shares of nVent Electric during the third quarter valued at $110,663,000. Franklin Resources Inc. raised its holdings in nVent Electric by 22.1% during the 3rd quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock worth $527,374,000 after purchasing an additional 1,269,335 shares during the last quarter. Clean Energy Transition LLP raised its holdings in nVent Electric by 56.5% during the 3rd quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock worth $158,411,000 after purchasing an additional 813,909 shares during the last quarter. Impax Asset Management Group plc lifted its position in nVent Electric by 2,764.1% during the 4th quarter. Impax Asset Management Group plc now owns 647,304 shares of the company’s stock valued at $43,626,000 after purchasing an additional 624,703 shares during the period. Finally, Artemis Investment Management LLP boosted its stake in shares of nVent Electric by 235.9% in the 4th quarter. Artemis Investment Management LLP now owns 763,075 shares of the company’s stock valued at $52,011,000 after purchasing an additional 535,881 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Stock Down 6.7 %

Shares of NYSE NVT opened at $56.31 on Tuesday. nVent Electric plc has a 52-week low of $55.69 and a 52-week high of $86.57. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The stock has a market cap of $9.29 billion, a P/E ratio of 28.73, a P/E/G ratio of 1.48 and a beta of 1.26. The firm has a 50 day moving average price of $67.49 and a 200 day moving average price of $70.06.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.59 EPS for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. Analysts expect that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently declared 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio is currently 40.82%.

Wall Street Analysts Forecast Growth

NVT has been the subject of a number of recent research reports. Royal Bank of Canada boosted 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. Citigroup dropped their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Barclays reduced their price target on nVent Electric from $88.00 to $83.00 and set an “overweight” rating on the stock in a research report on Monday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $85.50.

nVent Electric Profile

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.