ING Groep NV Takes $1.42 Million Position in nVent Electric plc (NYSE:NVT)

ING Groep NV purchased a new stake in shares of nVent Electric plc (NYSE:NVT) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 20,800 shares of the company’s stock, valued at approximately $1,418,000.

A number of other institutional investors have also modified their holdings of the company. Nordea Investment Management AB increased its holdings in nVent Electric by 16.9% in the fourth quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock valued at $6,378,000 after buying an additional 13,483 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of nVent Electric by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after buying an additional 29,794 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in nVent Electric during the 4th quarter valued at approximately $1,520,000. TT International Asset Management LTD lifted its position in nVent Electric by 20.4% during the 4th quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock worth $7,388,000 after acquiring an additional 18,376 shares during the period. Finally, LVM Capital Management Ltd. MI grew its stake in shares of nVent Electric by 8.1% in the 4th quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock valued at $10,307,000 after purchasing an additional 11,349 shares during the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Royal Bank of Canada boosted their price objective 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. Barclays boosted their price target on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Citigroup reduced their price objective on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, nVent Electric presently has an average rating of “Buy” and an average price target of $86.33.

nVent Electric Stock Performance

Shares of NVT opened at $62.64 on Monday. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. nVent Electric plc has a 52-week low of $56.44 and a 52-week high of $86.57. The company has a 50-day simple moving average of $68.84 and a 200-day simple moving average of $70.25. The company has a market capitalization of $10.34 billion, a PE ratio of 31.96, a P/E/G ratio of 1.48 and a beta of 1.26.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. Equities research analysts predict that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.28%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is 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.