nVent Electric plc (NYSE:NVT) Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH lifted its holdings in shares of nVent Electric plc (NYSE:NVT) by 83.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 586,370 shares of the company’s stock after acquiring an additional 266,267 shares during the quarter. Allianz Asset Management GmbH owned 0.36% of nVent Electric worth $39,967,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Crews Bank & Trust acquired a new stake in shares of nVent Electric in the 4th quarter valued at about $26,000. Larson Financial Group LLC lifted its position in nVent Electric by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares during the last quarter. Huntington National Bank boosted its position in shares of nVent Electric by 57.3% during the third quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after buying an additional 223 shares during the period. Brooklyn Investment Group acquired a new position in nVent Electric during the 3rd quarter worth $44,000. Finally, Tsfg LLC bought a new position in nVent Electric in the 4th quarter valued at about $51,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Stock Performance

nVent Electric stock opened at $62.64 on Monday. nVent Electric plc has a fifty-two week low of $56.44 and a fifty-two week high of $86.57. The firm’s 50 day simple moving average is $68.84 and its 200-day simple moving average is $70.25. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The company has a market cap of $10.34 billion, a P/E ratio of 31.96, a price-to-earnings-growth ratio of 1.48 and a beta of 1.26.

nVent Electric (NYSE:NVT) last posted 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 net margin of 10.09% and a return on equity of 14.52%. As a group, equities research analysts predict that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

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. This represents a $0.80 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s payout ratio is 40.82%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barclays lifted their price target on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Citigroup cut their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Royal Bank of Canada lifted their price target on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $86.33.

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.