EverSource Wealth Advisors LLC Acquires 892 Shares of nVent Electric plc (NYSE:NVT)

EverSource Wealth Advisors LLC raised its holdings in nVent Electric plc (NYSE:NVT) by 27.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,155 shares of the company’s stock after purchasing an additional 892 shares during the period. EverSource Wealth Advisors LLC’s holdings in nVent Electric were worth $283,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Nordea Investment Management AB grew its position in nVent Electric by 16.9% during the fourth quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock worth $6,378,000 after buying an additional 13,483 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of nVent Electric by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after purchasing an additional 29,794 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of nVent Electric in the fourth quarter worth $1,520,000. TT International Asset Management LTD lifted its position in nVent Electric by 20.4% during the fourth quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock worth $7,388,000 after purchasing an additional 18,376 shares during the period. Finally, LVM Capital Management Ltd. MI grew its stake in nVent Electric by 8.1% during the fourth quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock worth $10,307,000 after buying an additional 11,349 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Stock Up 4.9 %

Shares of NVT opened at $56.84 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. nVent Electric plc has a 52 week low of $51.99 and a 52 week high of $86.57. The stock has a market capitalization of $9.38 billion, a price-to-earnings ratio of 29.00, a PEG ratio of 1.48 and a beta of 1.31. The stock has a fifty day moving average of $64.98 and a 200-day moving average of $69.35.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, meeting 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, sell-side analysts anticipate 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. This represents a $0.80 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s payout ratio is currently 40.82%.

Analyst Ratings Changes

Several brokerages have recently commented on NVT. Citigroup dropped their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada raised their target price on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Barclays lowered 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. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $86.00.

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.