Massachusetts Financial Services Co. MA Lowers Stock Holdings in nVent Electric plc (NYSE:NVT)

Massachusetts Financial Services Co. MA lowered its holdings in nVent Electric plc (NYSE:NVT) by 50.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,598,942 shares of the company’s stock after selling 1,641,252 shares during the period. Massachusetts Financial Services Co. MA’s holdings in nVent Electric were worth $108,984,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Crews Bank & Trust purchased a new stake in nVent Electric in the fourth quarter valued at approximately $26,000. Tsfg LLC acquired a new position in nVent Electric in the fourth quarter valued at $51,000. Raleigh Capital Management Inc. grew its position in nVent Electric by 547.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock valued at $51,000 after acquiring an additional 635 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in shares of nVent Electric by 26.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock valued at $53,000 after purchasing an additional 162 shares in the last quarter. Finally, Blue Trust Inc. increased its position in nVent Electric by 243.5% during the 4th quarter. Blue Trust Inc. now owns 869 shares of the company’s stock worth $61,000 after purchasing an additional 616 shares in the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. The Goldman Sachs Group reduced their price target on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday. Royal Bank of Canada boosted their price objective on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Barclays lowered their price objective on shares of nVent Electric from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Friday. KeyCorp dropped their price target on shares of nVent Electric from $84.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Finally, Seaport Res Ptn upgraded nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $77.50.

nVent Electric Trading Down 6.3 %

Shares of NYSE NVT opened at $45.28 on Friday. The stock has a market capitalization of $7.47 billion, a P/E ratio of 23.10, a PEG ratio of 1.48 and a beta of 1.21. The stock’s 50 day moving average price is $59.82 and its two-hundred day moving average price is $68.29. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. nVent Electric plc has a 52-week low of $41.90 and a 52-week high of $86.57.

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

nVent Electric Dividend Announcement

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 paid a $0.20 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a yield of 1.77%. nVent Electric’s payout ratio is currently 40.82%.

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.