Intrust Bank NA Buys 760 Shares of nVent Electric plc (NYSE:NVT)

Intrust Bank NA lifted its stake in shares of nVent Electric plc (NYSE:NVT) by 19.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,719 shares of the company’s stock after acquiring an additional 760 shares during the quarter. Intrust Bank NA’s holdings in nVent Electric were worth $322,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NVT. Larson Financial Group LLC boosted its position 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 worth $27,000 after purchasing an additional 181 shares during the period. Crews Bank & Trust bought a new position in nVent Electric in the 4th quarter worth $26,000. Tsfg LLC purchased a new stake in nVent Electric in the 4th quarter worth $51,000. Raleigh Capital Management Inc. raised its holdings in nVent Electric by 547.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock valued at $51,000 after acquiring an additional 635 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of nVent Electric by 26.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock valued at $53,000 after acquiring an additional 162 shares in the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

nVent Electric Price Performance

NVT stock opened at $52.89 on Monday. The company has a fifty day simple moving average of $62.19 and a two-hundred day simple moving average of $68.84. nVent Electric plc has a 52 week low of $51.99 and a 52 week high of $86.57. 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 firm has a market capitalization of $8.73 billion, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. Analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be given a $0.20 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a yield of 1.51%. nVent Electric’s dividend payout ratio is presently 40.82%.

Analysts Set New Price Targets

Several analysts recently issued reports on NVT shares. KeyCorp decreased their target price on nVent Electric from $84.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday. Royal Bank of Canada boosted their target price on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Citigroup cut 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 note on Monday, January 13th. CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Monday, March 17th. Finally, Barclays dropped their price objective on shares of nVent Electric from $83.00 to $75.00 and set an “overweight” rating for the company in a report on Wednesday, March 26th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $80.50.

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.