US Bancorp DE Trims Stock Holdings in nVent Electric plc (NYSE:NVT)

US Bancorp DE decreased its stake in nVent Electric plc (NYSE:NVT) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 183,233 shares of the company’s stock after selling 4,808 shares during the quarter. US Bancorp DE’s holdings in nVent Electric were worth $12,489,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NVT. Franklin Resources Inc. boosted its stake in shares of nVent Electric by 22.1% in the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock worth $527,374,000 after acquiring an additional 1,269,335 shares during the period. State Street Corp boosted its stake in shares of nVent Electric by 0.9% in the third quarter. State Street Corp now owns 5,031,623 shares of the company’s stock worth $353,522,000 after acquiring an additional 42,465 shares during the period. Geode Capital Management LLC boosted its stake in shares of nVent Electric by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after acquiring an additional 29,794 shares during the period. Janus Henderson Group PLC boosted its stake in shares of nVent Electric by 23.6% in the third quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock worth $171,492,000 after acquiring an additional 466,042 shares during the period. Finally, Clean Energy Transition LLP boosted its stake in shares of nVent Electric by 56.5% in the third quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock worth $158,411,000 after acquiring an additional 813,909 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Analyst Ratings Changes

NVT has been the subject of a number of recent analyst reports. Citigroup dropped their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Barclays dropped their price objective on nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Royal Bank of Canada increased their price target on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, nVent Electric currently has an average rating of “Buy” and an average target price of $85.50.

nVent Electric Price Performance

Shares of nVent Electric stock opened at $56.31 on Tuesday. The stock has a 50 day moving average of $67.49 and a 200 day moving average of $70.06. nVent Electric plc has a 12 month low of $55.69 and a 12 month high of $86.57. The firm has a market cap of $9.29 billion, a PE ratio of 28.73, a PEG ratio of 1.48 and a beta of 1.26. 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 (NYSE:NVT) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) 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, research analysts expect that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Friday, April 25th. 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.