Mutual of America Capital Management LLC Has $5.93 Million Holdings in nVent Electric plc (NYSE:NVT)

Mutual of America Capital Management LLC reduced its position in nVent Electric plc (NYSE:NVT) by 3.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,063 shares of the company’s stock after selling 2,770 shares during the period. Mutual of America Capital Management LLC’s holdings in nVent Electric were worth $5,934,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. increased its position in nVent Electric by 22.1% in the 3rd quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock worth $527,374,000 after purchasing an additional 1,269,335 shares during the last quarter. State Street Corp increased its position in nVent Electric by 0.9% in the 3rd quarter. State Street Corp now owns 5,031,623 shares of the company’s stock worth $353,522,000 after purchasing an additional 42,465 shares during the last quarter. Geode Capital Management LLC increased its position in nVent Electric by 1.1% in 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 during the last quarter. Janus Henderson Group PLC increased its position in nVent Electric by 23.6% in the 3rd quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock worth $171,492,000 after purchasing an additional 466,042 shares during the last quarter. Finally, Clean Energy Transition LLP increased its position in nVent Electric by 56.5% in the 3rd quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock worth $158,411,000 after purchasing an additional 813,909 shares during the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NVT has been the topic of a number of analyst reports. Royal Bank of Canada increased their price objective on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Citigroup lowered their price objective on 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 lowered their price objective on nVent Electric from $88.00 to $83.00 and set an “overweight” rating on the stock in a report on Monday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $85.50.

nVent Electric Price Performance

Shares of NYSE:NVT opened at $56.31 on Tuesday. The business has a 50 day moving average price of $67.49 and a 200 day moving average price of $70.06. nVent Electric plc has a twelve month low of $55.69 and a twelve month high of $86.57. The company has a market cap of $9.29 billion, a price-to-earnings ratio of 28.73, a PEG ratio of 1.48 and a beta of 1.26. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65.

nVent Electric (NYSE:NVT) last announced 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%. Research analysts predict that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, April 25th. This represents a $0.80 annualized dividend and a yield of 1.42%. nVent Electric’s payout ratio is 40.82%.

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.