Norden Group LLC Grows Stock Position in nVent Electric plc (NYSE:NVT)

Norden Group LLC grew its position in shares of nVent Electric plc (NYSE:NVT) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,605 shares of the company’s stock after buying an additional 310 shares during the period. Norden Group LLC’s holdings in nVent Electric were worth $1,473,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its stake in nVent Electric by 1.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 30,973 shares of the company’s stock valued at $2,176,000 after acquiring an additional 528 shares during the period. First Trust Direct Indexing L.P. raised its position in shares of nVent Electric by 52.0% in the third quarter. First Trust Direct Indexing L.P. now owns 5,263 shares of the company’s stock valued at $370,000 after purchasing an additional 1,800 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of nVent Electric by 5.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 24,807 shares of the company’s stock valued at $1,743,000 after buying an additional 1,273 shares in the last quarter. Van ECK Associates Corp boosted its holdings in nVent Electric by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 96,214 shares of the company’s stock worth $7,026,000 after buying an additional 27,492 shares during the period. Finally, Impax Asset Management Group plc grew its stake in nVent Electric by 27.1% in the 3rd quarter. Impax Asset Management Group plc now owns 22,601 shares of the company’s stock valued at $1,588,000 after buying an additional 4,812 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

NVT has been the subject of a number of analyst reports. Citigroup cut their price target on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Royal Bank of Canada increased their price objective on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Barclays lifted their target price on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $86.33.

nVent Electric Trading Up 0.5 %

nVent Electric stock opened at $60.25 on Monday. 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 fifty-two week low of $56.44 and a fifty-two week high of $86.57. The stock has a market cap of $9.94 billion, a P/E ratio of 30.74, a PEG ratio of 1.48 and a beta of 1.26. The firm’s fifty day moving average price is $67.75 and its 200-day moving average price is $70.14.

nVent Electric (NYSE:NVT) last posted its 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%. Equities research analysts forecast that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

The business 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 $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s dividend payout ratio is currently 40.82%.

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.