OneAscent Financial Services LLC Has $473,000 Stock Position in nVent Electric plc (NYSE:NVT)

OneAscent Financial Services LLC cut its holdings in shares of nVent Electric plc (NYSE:NVT) by 17.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,932 shares of the company’s stock after selling 1,465 shares during the quarter. OneAscent Financial Services LLC’s holdings in nVent Electric were worth $473,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Huntington National Bank lifted its holdings in shares of nVent Electric by 60.9% during the 4th quarter. Huntington National Bank now owns 985 shares of the company’s stock valued at $67,000 after buying an additional 373 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in nVent Electric by 11.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,273 shares of the company’s stock worth $223,000 after acquiring an additional 341 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of nVent Electric by 5.2% during the 4th quarter. Clearbridge Investments LLC now owns 779,967 shares of the company’s stock worth $53,163,000 after purchasing an additional 38,891 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of nVent Electric by 3.3% during the 4th quarter. Schroder Investment Management Group now owns 937,437 shares of the company’s stock valued at $63,896,000 after purchasing an additional 30,032 shares in the last quarter. Finally, Intrust Bank NA raised its holdings in shares of nVent Electric by 19.2% during the 4th quarter. Intrust Bank NA now owns 4,719 shares of the company’s stock valued at $322,000 after purchasing an additional 760 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Price Performance

Shares of NYSE:NVT opened at $48.39 on Friday. 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 business has a 50 day moving average price of $60.41 and a 200 day moving average price of $68.43. The company has a market cap of $7.99 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 1.48 and a beta of 1.21. nVent Electric plc has a twelve month low of $47.85 and a twelve month high of $86.57.

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, meeting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. Research analysts predict that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.65%. nVent Electric’s payout ratio is 40.82%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Seaport Res Ptn raised shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. The Goldman Sachs Group lowered their price objective on nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a report on Wednesday. KeyCorp cut their price objective on nVent Electric from $84.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Royal Bank of Canada upped their target price on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Barclays dropped their price target on shares of nVent Electric from $83.00 to $75.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 26th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, nVent Electric has a consensus rating of “Buy” and a consensus target price of $78.33.

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.