Easterly Investment Partners LLC Buys 8,884 Shares of nVent Electric plc (NYSE:NVT)

Easterly Investment Partners LLC grew its stake in shares of nVent Electric plc (NYSE:NVT) by 11.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,454 shares of the company’s stock after buying an additional 8,884 shares during the period. Easterly Investment Partners LLC owned 0.05% of nVent Electric worth $5,756,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NVT. Franklin Resources Inc. increased its holdings in shares of nVent Electric by 22.1% in the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock worth $527,374,000 after purchasing an additional 1,269,335 shares during the period. State Street Corp grew its stake in nVent Electric by 0.9% in the 3rd quarter. State Street Corp now owns 5,031,623 shares of the company’s stock worth $353,522,000 after buying an additional 42,465 shares in the last quarter. Norges Bank bought a new position in shares of nVent Electric in the 4th quarter worth $197,434,000. Geode Capital Management LLC increased its holdings in shares of nVent Electric by 1.1% in the 3rd 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. Finally, William Blair Investment Management LLC raised its position in shares of nVent Electric by 8.8% during the 4th quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company’s stock valued at $176,630,000 after buying an additional 210,690 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Price Performance

Shares of NVT stock opened at $55.87 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The firm has a market cap of $9.22 billion, a P/E ratio of 28.50, a P/E/G ratio of 1.48 and a beta of 1.31. The business’s 50 day moving average price is $62.92 and its 200-day moving average price is $68.92. nVent Electric plc has a fifty-two week low of $51.99 and a fifty-two week high of $86.57.

nVent Electric (NYSE:NVT) last released 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 net margin of 10.09% and a return on equity of 14.52%. On average, equities research analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a yield of 1.43%. nVent Electric’s dividend payout ratio (DPR) is currently 40.82%.

Analyst Ratings Changes

NVT has been the topic of a number of research reports. Royal Bank of Canada raised their price target on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Barclays decreased their price objective on nVent Electric from $83.00 to $75.00 and set an “overweight” rating on the stock in a report on Wednesday. CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Monday, March 17th. Seaport Res Ptn raised shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Finally, Citigroup reduced their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, nVent Electric presently has an average rating of “Buy” and an average price target of $82.00.

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.