Boston Partners Has $1.30 Million Stock Holdings in nVent Electric plc (NYSE:NVT)

Boston Partners reduced its stake in shares of nVent Electric plc (NYSE:NVT) by 98.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 19,079 shares of the company’s stock after selling 1,652,444 shares during the period. Boston Partners’ holdings in nVent Electric were worth $1,300,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Swedbank AB acquired a new stake in nVent Electric during the third quarter worth about $110,663,000. Franklin Resources Inc. lifted its holdings in shares of 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 acquiring an additional 1,269,335 shares during the period. Clean Energy Transition LLP boosted its position in shares of 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 acquiring an additional 813,909 shares in the last quarter. Impax Asset Management Group plc increased its stake in nVent Electric by 2,764.1% in the fourth quarter. Impax Asset Management Group plc now owns 647,304 shares of the company’s stock valued at $43,626,000 after acquiring an additional 624,703 shares during the last quarter. Finally, Artemis Investment Management LLP raised its position in nVent Electric by 235.9% during the fourth 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 in the last quarter. Institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Performance

NYSE:NVT opened at $57.11 on Friday. The stock’s 50-day moving average is $63.63 and its 200-day moving average is $69.01. nVent Electric plc has a 1-year low of $51.99 and a 1-year high of $86.57. 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 stock has a market cap of $9.42 billion, a P/E ratio of 29.14, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31.

nVent Electric (NYSE:NVT) last announced 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 net margin of 10.09% and a return on equity of 14.52%. Equities research analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.40%. The ex-dividend date is Friday, April 25th. nVent Electric’s payout ratio is presently 40.82%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NVT. Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a report on Friday. CL King upgraded nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Monday, March 17th. 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 report on Monday, January 13th. Barclays decreased their price target on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Finally, Royal Bank of Canada increased their price objective 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. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $83.33.

nVent Electric Company 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.