Banco de Sabadell S.A Lowers Holdings in nVent Electric plc (NYSE:NVT)

Banco de Sabadell S.A lowered its stake in shares of nVent Electric plc (NYSE:NVT) by 3.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 8,624 shares of the company’s stock after selling 352 shares during the period. Banco de Sabadell S.A’s holdings in nVent Electric were worth $588,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Crews Bank & Trust acquired a new stake in nVent Electric during the fourth quarter worth about $26,000. Larson Financial Group LLC grew its stake in shares of nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the period. Brooklyn Investment Group acquired a new stake in shares of nVent Electric during the 3rd quarter worth approximately $44,000. Tsfg LLC purchased a new position in shares of nVent Electric during the 4th quarter valued at approximately $51,000. Finally, Raleigh Capital Management Inc. lifted its stake in shares of nVent Electric by 547.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock valued at $51,000 after purchasing an additional 635 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Trading Up 0.4 %

Shares of nVent Electric stock opened at $57.11 on Friday. 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 $51.99 and a twelve month high of $86.57. The firm has a market capitalization of $9.42 billion, a PE ratio of 29.14, a P/E/G ratio of 1.48 and a beta of 1.31. The firm’s 50-day moving average price is $63.63 and its 200 day moving average price is $69.01.

nVent Electric (NYSE:NVT) last released its earnings results 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%. On average, sell-side analysts predict that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently announced 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Friday, April 25th. nVent Electric’s payout ratio is 40.82%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NVT shares. Royal Bank of Canada raised their price target 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. CL King upgraded nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Monday, March 17th. Barclays reduced their price target on nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Seaport Res Ptn upgraded nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday. Finally, Citigroup cut their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $83.33.

nVent Electric Company 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.