Edgestream Partners L.P. Boosts Holdings in nVent Electric plc (NYSE:NVT)

Edgestream Partners L.P. grew its holdings in nVent Electric plc (NYSE:NVT) by 461.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,717 shares of the company’s stock after purchasing an additional 29,358 shares during the quarter. Edgestream Partners L.P.’s holdings in nVent Electric were worth $2,434,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Crews Bank & Trust purchased a new position in shares of nVent Electric in the fourth quarter valued at approximately $26,000. Larson Financial Group LLC boosted its stake in shares of nVent Electric by 91.9% in 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% in 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 position in shares of nVent Electric in the third quarter valued at approximately $44,000. Finally, Tsfg LLC purchased a new position in shares of nVent Electric in the fourth quarter valued at approximately $51,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Down 0.9 %

NVT stock opened at $55.02 on Monday. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. nVent Electric plc has a twelve month low of $52.78 and a twelve month high of $86.57. The company’s 50 day moving average is $66.36 and its two-hundred day moving average is $69.77. The stock has a market cap of $9.08 billion, a P/E ratio of 28.07, a PEG ratio of 1.48 and a beta of 1.31.

nVent Electric (NYSE:NVT) last released its quarterly earnings data 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 net margin of 10.09% and a return on equity of 14.52%. Research analysts expect that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a yield of 1.45%. nVent Electric’s payout ratio is currently 40.82%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. 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 report on Friday, February 7th. Citigroup reduced their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Barclays reduced their target price on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $85.50.

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.