World Equity Group Inc. Acquires 3,470 Shares of nVent Electric plc (NYSE:NVT)

World Equity Group Inc. raised its holdings in shares of nVent Electric plc (NYSE:NVT) by 100.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,940 shares of the company’s stock after acquiring an additional 3,470 shares during the period. World Equity Group Inc.’s holdings in nVent Electric were worth $473,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of NVT. Crews Bank & Trust bought a new position in nVent Electric during the fourth quarter valued at approximately $26,000. Larson Financial Group LLC boosted its stake in shares of nVent Electric by 91.9% during the third 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 period. Huntington National Bank boosted its stake in shares of nVent Electric by 57.3% during the third quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after purchasing an additional 223 shares during the period. Brooklyn Investment Group purchased a new stake in shares of nVent Electric during the third quarter valued at approximately $44,000. Finally, Tsfg LLC purchased a new stake in shares of nVent Electric during the fourth quarter valued at approximately $51,000. 90.05% of the stock is currently owned by institutional investors.

nVent Electric Stock Performance

Shares of NVT stock opened at $62.64 on Monday. The stock has a fifty day moving average of $68.84 and a 200 day moving average of $70.25. nVent Electric plc has a 52 week low of $56.44 and a 52 week high of $86.57. The firm has a market capitalization of $10.34 billion, a price-to-earnings ratio of 31.96, a PEG ratio of 1.48 and a beta of 1.26. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65.

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

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders 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 is Friday, April 25th. nVent Electric’s dividend payout ratio is currently 40.82%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NVT shares. Royal Bank of Canada increased 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. Citigroup dropped their price objective on 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, Barclays increased their price objective on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $86.33.

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.