Duff & Phelps Investment Management Co. Takes $375,000 Position in nVent Electric plc (NYSE:NVT)

Duff & Phelps Investment Management Co. bought a new position in nVent Electric plc (NYSE:NVT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,499 shares of the company’s stock, valued at approximately $375,000.

A number of other large investors have also recently added to or reduced their stakes in NVT. Larson Financial Group LLC increased its position in nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares during the period. Crews Bank & Trust bought a new position in shares of nVent Electric during the 4th quarter worth about $26,000. Brooklyn Investment Group acquired a new position in shares of nVent Electric during the third quarter valued at about $44,000. Tsfg LLC bought a new stake in shares of nVent Electric in the fourth quarter valued at about $51,000. Finally, Raleigh Capital Management Inc. lifted its stake in shares of nVent Electric by 547.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock valued at $51,000 after buying an additional 635 shares during the period. Institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Down 3.1 %

NYSE NVT opened at $52.89 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. nVent Electric plc has a 52 week low of $51.99 and a 52 week high of $86.57. The stock has a market capitalization of $8.73 billion, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. The stock has a fifty day moving average of $62.19 and a 200-day moving average of $68.76.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, hitting 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 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be paid a $0.20 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a yield of 1.51%. nVent Electric’s payout ratio is presently 40.82%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NVT shares. KeyCorp lowered their price target on shares of nVent Electric from $84.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday. Citigroup lowered their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Barclays dropped their price target on shares of nVent Electric from $83.00 to $75.00 and set an “overweight” rating for the company in a research report on Wednesday. Royal Bank of Canada upped their price objective on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, 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 report on Monday, March 17th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $80.50.

About nVent Electric

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.