Trillium Asset Management LLC Increases Stock Position in nVent Electric plc (NYSE:NVT)

Trillium Asset Management LLC increased its position in shares of nVent Electric plc (NYSE:NVT) by 11.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 244,682 shares of the company’s stock after buying an additional 26,093 shares during the period. Trillium Asset Management LLC’s holdings in nVent Electric were worth $16,678,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in nVent Electric by 374.4% during the third quarter. Victory Capital Management Inc. now owns 161,954 shares of the company’s stock valued at $11,379,000 after purchasing an additional 127,813 shares in the last quarter. Huntington National Bank lifted its holdings in nVent Electric by 57.3% during the third quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after purchasing an additional 223 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in nVent Electric by 3.6% during the third quarter. CIBC Asset Management Inc now owns 4,823 shares of the company’s stock valued at $339,000 after purchasing an additional 166 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in nVent Electric by 18.6% during the third quarter. Thrivent Financial for Lutherans now owns 429,615 shares of the company’s stock valued at $30,185,000 after purchasing an additional 67,489 shares in the last quarter. Finally, Whalen Wealth Management Inc. purchased a new position in nVent Electric during the third quarter valued at $768,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NVT. CL King raised shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Monday. Citigroup decreased their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research note 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 research note on Monday, March 3rd. Finally, Royal Bank of Canada raised their price target on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $83.33.

nVent Electric Stock Performance

NYSE:NVT opened at $55.46 on Wednesday. nVent Electric plc has a twelve month low of $51.99 and a twelve month high of $86.57. The company has a market cap of $9.15 billion, a P/E ratio of 28.30, a P/E/G ratio of 1.48 and a beta of 1.31. The company’s 50-day moving average price is $64.39 and its 200-day moving average price is $69.22. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65.

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 net margin of 10.09% and a return on equity of 14.52%. On average, sell-side analysts forecast that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.44%. The ex-dividend date is Friday, April 25th. 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.