nVent Electric plc (NYSE:NVT) Position Raised by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE increased its position in shares of nVent Electric plc (NYSE:NVT) by 7.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 255,741 shares of the company’s stock after purchasing an additional 17,416 shares during the period. Congress Wealth Management LLC DE owned 0.15% of nVent Electric worth $19,283,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVT. Clean Energy Transition LLP increased its holdings in shares of nVent Electric by 1.6% in the fourth quarter. Clean Energy Transition LLP now owns 2,540,545 shares of the company’s stock valued at $150,121,000 after buying an additional 39,169 shares in the last quarter. Congress Asset Management Co. MA increased its holdings in shares of nVent Electric by 1.2% in the first quarter. Congress Asset Management Co. MA now owns 2,219,332 shares of the company’s stock valued at $167,338,000 after buying an additional 26,897 shares in the last quarter. Norges Bank bought a new position in shares of nVent Electric in the fourth quarter valued at $109,630,000. Fiduciary Management Inc. WI increased its holdings in shares of nVent Electric by 1.8% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,772,270 shares of the company’s stock valued at $104,723,000 after buying an additional 31,621 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of nVent Electric by 50.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,633,421 shares of the company’s stock valued at $96,519,000 after buying an additional 547,624 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

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

nVent Electric Stock Down 2.0 %

Shares of nVent Electric stock traded down $1.52 on Monday, hitting $75.09. 1,189,211 shares of the company traded hands, compared to its average volume of 1,405,046. The company has a 50-day moving average price of $78.70 and a 200 day moving average price of $69.95. 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 12-month low of $45.60 and a 12-month high of $86.57. The company has a market cap of $12.47 billion, a PE ratio of 21.90, a PEG ratio of 1.68 and a beta of 1.31.

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

nVent Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Friday, July 19th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Friday, July 19th. nVent Electric’s dividend payout ratio is presently 22.16%.

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.