nVent Electric plc (NYSE:NVT) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp lifted its holdings in nVent Electric plc (NYSE:NVT) by 35.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 130,405 shares of the company’s stock after buying an additional 34,191 shares during the quarter. Van ECK Associates Corp’s holdings in nVent Electric were worth $8,888,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Nordea Investment Management AB increased its holdings in nVent Electric by 16.9% in the 4th quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock valued at $6,378,000 after purchasing an additional 13,483 shares in the last quarter. Geode Capital Management LLC raised 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 valued at $194,894,000 after buying an additional 29,794 shares during the period. Harbor Capital Advisors Inc. acquired a new position in nVent Electric during the 4th quarter worth approximately $1,520,000. TT International Asset Management LTD boosted its holdings in nVent Electric by 20.4% in the 4th quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock worth $7,388,000 after acquiring an additional 18,376 shares during the period. Finally, LVM Capital Management Ltd. MI boosted its holdings in nVent Electric by 8.1% in the 4th quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock worth $10,307,000 after acquiring an additional 11,349 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Price Performance

Shares of NVT stock opened at $68.40 on Monday. The firm has a market cap of $11.27 billion, a P/E ratio of 34.90, a P/E/G ratio of 3.01 and a beta of 1.26. The firm has a fifty day moving average of $69.67 and a two-hundred day moving average of $70.15. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.36. nVent Electric plc has a 1-year low of $56.44 and a 1-year high of $86.57.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data 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%. As a group, research analysts anticipate that nVent Electric plc will post 3.03 earnings per share for the current fiscal year.

nVent Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Friday, January 17th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, January 17th. This is a boost from nVent Electric’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 1.17%. nVent Electric’s dividend payout ratio (DPR) is 40.82%.

Analysts Set New Price Targets

A number of research firms have weighed in on NVT. Citigroup decreased 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. Barclays upped their price target on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Royal Bank of Canada upped their price target on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, nVent Electric currently has an average rating of “Buy” and an average price target of $86.33.

Insiders Place Their Bets

In related news, Director Jerry W. Burris sold 6,558 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the sale, the director now owns 45,040 shares in the company, valued at $3,603,200. This represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is currently owned by corporate insiders.

nVent Electric Company 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.