Franklin Resources Inc. Lowers Holdings in nVent Electric plc (NYSE:NVT)

Franklin Resources Inc. lowered its holdings in nVent Electric plc (NYSE:NVT) by 1.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,898,641 shares of the company’s stock after selling 121,784 shares during the period. Franklin Resources Inc. owned approximately 4.19% of nVent Electric worth $470,211,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Crews Bank & Trust purchased a new stake in shares of nVent Electric during the fourth quarter worth approximately $26,000. Tsfg LLC acquired a new position in nVent Electric during the 4th quarter worth approximately $51,000. Raleigh Capital Management Inc. grew its holdings in nVent Electric by 547.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock worth $51,000 after acquiring an additional 635 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of nVent Electric by 26.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock valued at $53,000 after purchasing an additional 162 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of nVent Electric by 243.5% in the 4th quarter. Blue Trust Inc. now owns 869 shares of the company’s stock valued at $61,000 after purchasing an additional 616 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Barclays dropped 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, March 26th. KeyCorp dropped their target price on shares of nVent Electric from $84.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday. 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. Citigroup dropped their price target 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. Finally, Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $80.50.

nVent Electric Stock Down 1.0 %

NVT opened at $52.40 on Tuesday. nVent Electric plc has a 52 week low of $50.14 and a 52 week high of $86.57. The business has a 50 day moving average price of $61.79 and a two-hundred day moving average price of $68.75. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The company has a market cap of $8.65 billion, a PE ratio of 26.74, a P/E/G ratio of 1.48 and a beta of 1.31.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.59 EPS 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%. As a group, research analysts anticipate that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s payout ratio 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.