Oppenheimer Asset Management Inc. Sells 1,066 Shares of nVent Electric plc (NYSE:NVT)

Oppenheimer Asset Management Inc. cut its stake in shares of nVent Electric plc (NYSE:NVT) by 4.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 22,097 shares of the company’s stock after selling 1,066 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in nVent Electric were worth $1,506,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in nVent Electric by 22.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,718,368 shares of the company’s stock worth $117,124,000 after purchasing an additional 312,982 shares during the period. Impax Asset Management Group plc grew its position in shares of nVent Electric by 2,764.1% during the 4th quarter. Impax Asset Management Group plc now owns 647,304 shares of the company’s stock worth $43,626,000 after buying an additional 624,703 shares in the last quarter. World Equity Group Inc. increased its stake in shares of nVent Electric by 100.0% during the fourth quarter. World Equity Group Inc. now owns 6,940 shares of the company’s stock valued at $473,000 after buying an additional 3,470 shares during the period. TCW Group Inc. raised its holdings in shares of nVent Electric by 26.7% in the fourth quarter. TCW Group Inc. now owns 287,426 shares of the company’s stock valued at $19,591,000 after acquiring an additional 60,524 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of nVent Electric by 83.2% in the fourth quarter. Allianz Asset Management GmbH now owns 586,370 shares of the company’s stock valued at $39,967,000 after acquiring an additional 266,267 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NVT shares. Royal Bank of Canada raised their target price on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Citigroup dropped their price objective 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. Finally, Barclays reduced their price objective on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a research note on Monday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nVent Electric has a consensus rating of “Buy” and an average price target of $85.50.

nVent Electric Price Performance

Shares of NVT opened at $56.31 on Tuesday. The company has a 50 day moving average of $67.49 and a two-hundred day moving average of $70.06. 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 plc has a twelve month low of $55.69 and a twelve month high of $86.57. The company has a market cap of $9.29 billion, a price-to-earnings ratio of 28.73, a price-to-earnings-growth ratio of 1.48 and a beta of 1.26.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.59 EPS for the quarter, meeting 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, analysts predict that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.42%. nVent Electric’s payout ratio is 40.82%.

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.