Victory Capital Management Inc. Lowers Position in nVent Electric plc (NYSE:NVT)

Victory Capital Management Inc. trimmed its holdings in shares of nVent Electric plc (NYSE:NVT) by 81.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,738 shares of the company’s stock after selling 131,216 shares during the quarter. Victory Capital Management Inc.’s holdings in nVent Electric were worth $2,095,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Huntington National Bank grew its holdings in shares of nVent Electric by 57.3% during the third quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after purchasing an additional 223 shares in the last quarter. CIBC Asset Management Inc lifted its position in nVent Electric by 3.6% during the third quarter. CIBC Asset Management Inc now owns 4,823 shares of the company’s stock valued at $339,000 after purchasing an additional 166 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in nVent Electric by 18.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 429,615 shares of the company’s stock worth $30,185,000 after buying an additional 67,489 shares in the last quarter. Whalen Wealth Management Inc. bought a new position in shares of nVent Electric in the 3rd quarter worth $768,000. Finally, Fifth Third Wealth Advisors LLC raised its position in shares of nVent Electric by 7.6% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 6,399 shares of the company’s stock valued at $450,000 after buying an additional 453 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Barclays cut their target price on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. CL King upgraded nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Monday. Royal Bank of Canada raised 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, Citigroup cut their target price 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. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $83.33.

nVent Electric Stock Up 0.1 %

Shares of NYSE:NVT opened at $56.72 on Tuesday. The stock has a market capitalization of $9.36 billion, a P/E ratio of 28.94, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. The stock’s 50-day moving average price is $64.69 and its 200-day moving average price is $69.31. 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 plc has a 12-month low of $51.99 and a 12-month high of $86.57.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (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%. On average, equities analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The company 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 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Friday, April 25th. nVent Electric’s payout ratio is 40.82%.

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.