Proficio Capital Partners LLC Buys Shares of 58,481 nVent Electric plc (NYSE:NVT)

Proficio Capital Partners LLC purchased a new position in shares of nVent Electric plc (NYSE:NVT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 58,481 shares of the company’s stock, valued at approximately $3,986,000.

Other large investors also recently modified their holdings of the company. Nordea Investment Management AB grew its position in nVent Electric by 16.9% during the 4th quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock worth $6,378,000 after acquiring an additional 13,483 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of nVent Electric by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock valued at $194,894,000 after purchasing an additional 29,794 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of nVent Electric during the fourth quarter worth about $1,520,000. TT International Asset Management LTD grew its holdings in shares of nVent Electric by 20.4% during the fourth quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock worth $7,388,000 after purchasing an additional 18,376 shares during the last quarter. Finally, LVM Capital Management Ltd. MI increased its stake in shares of nVent Electric by 8.1% in the fourth quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock valued at $10,307,000 after buying an additional 11,349 shares during the period. 90.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NVT has been the topic of several recent research reports. Citigroup cut their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. CL King raised shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Monday. 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. Finally, Barclays cut their target price on nVent Electric from $88.00 to $83.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, nVent Electric currently has an average rating of “Buy” and a consensus target price of $83.33.

nVent Electric Trading Up 0.1 %

NYSE:NVT opened at $56.72 on Tuesday. nVent Electric plc has a 52 week low of $51.99 and a 52 week high of $86.57. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The firm’s fifty day moving average is $64.69 and its 200-day moving average is $69.31. The firm has a market cap of $9.36 billion, a P/E ratio of 28.94, a P/E/G ratio of 1.48 and a beta of 1.31.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. Equities analysts expect that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a yield of 1.41%. nVent Electric’s payout ratio is currently 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.