nVent Electric plc (NYSE:NVT) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC decreased its position in nVent Electric plc (NYSE:NVT) by 0.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,760,114 shares of the company’s stock after selling 13,054 shares during the period. Geode Capital Management LLC’s holdings in nVent Electric were worth $188,189,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Crews Bank & Trust purchased a new stake in shares of nVent Electric in the 4th quarter worth about $26,000. Tsfg LLC acquired a new stake in shares of nVent Electric in the fourth quarter valued at approximately $51,000. Raleigh Capital Management Inc. grew its position in shares of nVent Electric by 547.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock valued at $51,000 after purchasing an additional 635 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of nVent Electric by 26.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock worth $53,000 after purchasing an additional 162 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of 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 during the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Down 6.3 %

NVT opened at $45.28 on Monday. The stock has a market capitalization of $7.47 billion, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. nVent Electric plc has a 12 month low of $41.90 and a 12 month high of $86.57. 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 business has a 50-day moving average of $59.82 and a two-hundred day moving average of $68.31.

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

nVent Electric Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is currently 40.82%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a report on Friday, March 21st. 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 note on Friday, February 7th. KeyCorp reduced their target price on shares of nVent Electric from $84.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a report on Monday, March 17th. Finally, The Goldman Sachs Group reduced their price objective on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $77.50.

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.