Swiss National Bank Purchases 2,900 Shares of nVent Electric plc (NYSE:NVT)

Swiss National Bank raised its position in shares of nVent Electric plc (NYSE:NVT) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 326,887 shares of the company’s stock after buying an additional 2,900 shares during the quarter. Swiss National Bank owned about 0.20% of nVent Electric worth $22,281,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Larson Financial Group LLC grew its holdings in nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares during the period. Crews Bank & Trust purchased a new stake in nVent Electric during the 4th quarter valued at about $26,000. Huntington National Bank lifted its position in nVent Electric by 57.3% during the third quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after buying an additional 223 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of nVent Electric during the 3rd quarter valued at about $44,000. Finally, Tsfg LLC acquired a new stake in shares of nVent Electric during the 4th quarter worth approximately $51,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on NVT shares. CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a report on Monday. Citigroup dropped their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Barclays decreased their price target on nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Finally, Royal Bank of Canada upped their price target on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, nVent Electric currently has an average rating of “Buy” and an average target price of $83.33.

nVent Electric Stock Up 0.1 %

Shares of nVent Electric stock opened at $56.72 on Tuesday. The company has a market cap of $9.36 billion, a P/E ratio of 28.94, a PEG ratio of 1.48 and a beta of 1.31. The firm has a fifty day moving average of $64.69 and a two-hundred day moving average of $69.31. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. nVent Electric plc has a one year low of $51.99 and a one year high of $86.57.

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

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio is presently 40.82%.

About nVent Electric

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.