Mercer Global Advisors Inc. ADV Has $381,000 Stock Holdings in nVent Electric plc (NYSE:NVT)

Mercer Global Advisors Inc. ADV cut its holdings in shares of nVent Electric plc (NYSE:NVT) by 7.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 5,592 shares of the company’s stock after selling 457 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in nVent Electric were worth $381,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Capital Research Global Investors acquired a new stake in nVent Electric during the 4th quarter worth approximately $384,749,000. Norges Bank acquired a new position in shares of nVent Electric in the 4th quarter worth approximately $197,434,000. William Blair Investment Management LLC lifted its position in shares of nVent Electric by 8.8% in the 4th quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company’s stock worth $176,630,000 after purchasing an additional 210,690 shares during the period. Invesco Ltd. lifted its position in shares of nVent Electric by 15.0% in the 4th quarter. Invesco Ltd. now owns 1,723,868 shares of the company’s stock worth $117,499,000 after purchasing an additional 224,657 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of nVent Electric by 22.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,718,368 shares of the company’s stock worth $117,124,000 after purchasing an additional 312,982 shares during the period. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NVT. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. The Goldman Sachs Group dropped their target price on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Citigroup dropped their target price on shares of nVent Electric from $85.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. KeyCorp boosted their target price on shares of nVent Electric from $60.00 to $72.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Finally, CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Monday, March 17th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $70.00.

nVent Electric Stock Performance

Shares of NVT stock opened at $67.89 on Thursday. The firm has a market capitalization of $11.18 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24. The firm has a fifty day simple moving average of $54.58 and a two-hundred day simple moving average of $64.81. 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 $41.71 and a 12 month high of $86.57.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Friday, May 2nd. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. The business had revenue of $809.30 million during the quarter, compared to analyst estimates of $790.74 million. During the same quarter in the previous year, the business posted $0.78 EPS. nVent Electric’s quarterly revenue was up 10.5% on a year-over-year basis. Analysts forecast that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, April 25th were paid a $0.20 dividend. The ex-dividend date was Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.18%. nVent Electric’s payout ratio is 22.86%.

Insider Transactions at nVent Electric

In related news, EVP Lynnette R. Heath sold 4,041 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $61.35, for a total transaction of $247,915.35. Following the completion of the transaction, the executive vice president now owns 32,665 shares in the company, valued at approximately $2,003,997.75. This represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.80% of the company’s stock.

About nVent Electric

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.