CIBC Asset Management Inc Has $346,000 Stake in nVent Electric plc (NYSE:NVT)

CIBC Asset Management Inc grew its position in nVent Electric plc (NYSE:NVT) by 5.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,078 shares of the company’s stock after acquiring an additional 255 shares during the period. CIBC Asset Management Inc’s holdings in nVent Electric were worth $346,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of NVT. Franklin Resources Inc. grew its holdings in shares of nVent Electric by 22.1% during the third 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 lifted its holdings in shares of nVent Electric by 0.9% during the third 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 period. Geode Capital Management LLC grew 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 purchasing an additional 29,794 shares during the last quarter. Janus Henderson Group PLC increased its holdings in nVent Electric by 23.6% in the third quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock valued at $171,492,000 after purchasing an additional 466,042 shares during the period. Finally, Clean Energy Transition LLP lifted its holdings in nVent Electric by 56.5% during the 3rd quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock worth $158,411,000 after buying an additional 813,909 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

nVent Electric Trading Down 5.8 %

NYSE NVT opened at $62.64 on Monday. 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 plc has a 52 week low of $56.44 and a 52 week high of $86.57. The business has a 50 day moving average price of $68.84 and a 200-day moving average price of $70.25. The company has a market cap of $10.34 billion, a price-to-earnings ratio of 31.96, a P/E/G ratio of 1.48 and a beta of 1.26.

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 net margin of 10.09% and a return on equity of 14.52%. As a group, equities analysts expect that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.28%. nVent Electric’s dividend payout ratio is currently 40.82%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Citigroup decreased their price target 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. Royal Bank of Canada upped their price target on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Barclays boosted their price objective on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $86.33.

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.