nVent Electric plc (NYSE:NVT) Shares Sold by Mairs & Power Inc.

Mairs & Power Inc. lessened its position in shares of nVent Electric plc (NYSE:NVT) by 12.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,853,642 shares of the company’s stock after selling 387,935 shares during the period. nVent Electric makes up approximately 1.8% of Mairs & Power Inc.’s investment portfolio, making the stock its 21st largest position. Mairs & Power Inc.’s holdings in nVent Electric were worth $168,622,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Sequoia Financial Advisors LLC purchased a new position in nVent Electric during the 4th quarter valued at about $2,492,000. Citigroup Inc. grew its position in shares of nVent Electric by 73.9% in the third quarter. Citigroup Inc. now owns 71,372 shares of the company’s stock valued at $3,782,000 after purchasing an additional 30,325 shares during the last quarter. Jump Financial LLC raised its position in shares of nVent Electric by 194.1% during the 4th quarter. Jump Financial LLC now owns 39,432 shares of the company’s stock worth $2,330,000 after purchasing an additional 26,024 shares during the last quarter. Mariner LLC raised its position in shares of nVent Electric by 10.1% during the 3rd quarter. Mariner LLC now owns 24,649 shares of the company’s stock worth $1,306,000 after purchasing an additional 2,263 shares during the last quarter. Finally, Principal Securities Inc. purchased a new stake in nVent Electric in the 4th quarter valued at approximately $1,221,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NVT has been the subject of several recent research reports. The Goldman Sachs Group raised their price target on nVent Electric from $77.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of nVent Electric in a report on Monday, March 11th. They issued a “buy” rating and a $83.00 target price on the stock. Barclays lifted their price target on shares of nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, June 4th. Royal Bank of Canada decreased their target price on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. Finally, Citigroup lifted their target price on shares of nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.00.

nVent Electric Trading Up 3.7 %

Shares of NVT stock traded up $2.91 during trading hours on Wednesday, hitting $81.29. 1,493,321 shares of the company were exchanged, compared to its average volume of 1,392,229. The firm has a fifty day moving average of $77.69 and a 200 day moving average of $67.76. The company has a quick ratio of 1.35, a current ratio of 1.99 and a debt-to-equity ratio of 0.54. nVent Electric plc has a 1 year low of $45.60 and a 1 year high of $86.57. The firm has a market cap of $13.50 billion, a PE ratio of 23.68, a PEG ratio of 1.81 and a beta of 1.31.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The company had revenue of $874.60 million for the quarter, compared to analyst estimates of $864.14 million. During the same quarter last year, the business earned $0.67 EPS. nVent Electric’s revenue for the quarter was up 18.0% on a year-over-year basis. Analysts expect that nVent Electric plc will post 3.27 earnings per share for the current year.

nVent Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be paid a dividend of $0.19 per share. The ex-dividend date is Friday, July 19th. This represents a $0.76 annualized dividend and a yield of 0.93%. nVent Electric’s dividend payout ratio is presently 22.16%.

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.