OneAscent Wealth Management LLC Has $367,000 Holdings in nVent Electric plc (NYSE:NVT)

OneAscent Wealth Management LLC trimmed its stake in nVent Electric plc (NYSE:NVT) by 35.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,380 shares of the company’s stock after selling 2,903 shares during the period. OneAscent Wealth Management LLC’s holdings in nVent Electric were worth $367,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB increased its stake in shares of nVent Electric by 26.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock valued at $53,000 after buying an additional 162 shares during the period. Calamos Advisors LLC increased its position in nVent Electric by 1.6% during the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock valued at $782,000 after purchasing an additional 176 shares during the period. Larson Financial Group LLC raised its holdings in nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the last quarter. Keybank National Association OH lifted its position in shares of nVent Electric by 2.5% in the 4th quarter. Keybank National Association OH now owns 9,509 shares of the company’s stock worth $648,000 after purchasing an additional 229 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in shares of nVent Electric by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 5,078 shares of the company’s stock valued at $346,000 after purchasing an additional 255 shares during the last quarter. 90.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Monday, March 17th. Seaport Res Ptn upgraded nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. KeyCorp lowered their target price on nVent Electric from $84.00 to $75.00 and set an “overweight” rating for the company in a report on Friday. Finally, Barclays cut their price target on nVent Electric from $83.00 to $75.00 and set an “overweight” rating on the stock in a report on Wednesday. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $80.50.

nVent Electric Stock Down 3.1 %

NVT stock 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 fifty-two week low of $51.99 and a fifty-two week high of $86.57. The stock’s 50 day simple moving average is $62.19 and its 200 day simple moving average is $68.76. The company has a market cap 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.

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

nVent Electric Dividend Announcement

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

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.