Wolverine Asset Management LLC Invests $511,000 in nVent Electric plc (NYSE:NVT)

Wolverine Asset Management LLC purchased a new position in shares of nVent Electric plc (NYSE:NVT) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 7,500 shares of the company’s stock, valued at approximately $511,000.

A number of other institutional investors also recently modified their holdings of the business. Creative Planning increased its holdings in nVent Electric by 16.5% in the 3rd quarter. Creative Planning now owns 23,191 shares of the company’s stock worth $1,629,000 after purchasing an additional 3,277 shares in the last quarter. Signaturefd LLC increased its holdings in nVent Electric by 63.8% in the 3rd quarter. Signaturefd LLC now owns 1,409 shares of the company’s stock worth $99,000 after purchasing an additional 549 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in nVent Electric in the 3rd quarter worth about $17,993,000. Ballentine Partners LLC acquired a new position in nVent Electric in the 3rd quarter worth about $216,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in nVent Electric by 1.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 30,973 shares of the company’s stock worth $2,176,000 after purchasing an additional 528 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NVT shares. Barclays upped their target price on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Citigroup lowered their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Royal Bank of Canada upped their target price on nVent Electric from $85.00 to $86.00 and gave the stock 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 a consensus target price of $86.33.

nVent Electric Trading Down 5.8 %

Shares of NVT stock opened at $62.64 on Monday. The stock has a market cap of $10.34 billion, a price-to-earnings ratio of 31.96, a PEG ratio of 1.48 and a beta of 1.26. The stock has a 50-day moving average of $68.84 and a 200-day moving average of $70.25. 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 plc has a 1-year low of $56.44 and a 1-year high of $86.57.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, meeting 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, equities research 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 announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, April 25th. This represents a $0.80 annualized dividend and a yield of 1.28%. nVent Electric’s dividend payout ratio is currently 40.82%.

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.