Congress Wealth Management LLC DE Sells 7,111 Shares of nVent Electric plc (NYSE:NVT)

Congress Wealth Management LLC DE decreased its position in shares of nVent Electric plc (NYSE:NVT) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 250,982 shares of the company’s stock after selling 7,111 shares during the quarter. Congress Wealth Management LLC DE’s holdings in nVent Electric were worth $17,107,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in nVent Electric during the third quarter worth $2,877,000. Advisors Asset Management Inc. grew its holdings in nVent Electric by 5.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 6,153 shares of the company’s stock worth $432,000 after acquiring an additional 301 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of nVent Electric by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,035,463 shares of the company’s stock worth $72,752,000 after acquiring an additional 3,599 shares in the last quarter. Citigroup Inc. lifted its stake in shares of nVent Electric by 3.3% in the 3rd quarter. Citigroup Inc. now owns 62,044 shares of the company’s stock valued at $4,359,000 after purchasing an additional 1,959 shares during the period. Finally, Cerity Partners LLC lifted its stake in shares of nVent Electric by 145.7% in the 3rd quarter. Cerity Partners LLC now owns 45,248 shares of the company’s stock valued at $3,179,000 after purchasing an additional 26,832 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Stock Up 2.8 %

Shares of NYSE NVT opened at $58.72 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The company has a 50-day moving average price of $63.43 and a 200-day moving average price of $69.03. The stock has a market capitalization of $9.69 billion, a P/E ratio of 29.96, a P/E/G ratio of 1.48 and a beta of 1.31. nVent Electric plc has a 1 year low of $51.99 and a 1 year high of $86.57.

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

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s payout ratio is currently 40.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on NVT shares. Seaport Res Ptn upgraded nVent Electric from a “hold” rating to a “strong-buy” rating in a report on Friday. Royal Bank of Canada boosted their target price on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Barclays reduced their price target on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Citigroup decreased their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, CL King upgraded nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Monday, March 17th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $83.33.

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.