nVent Electric plc (NYSE:NVT) Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. raised its stake in shares of nVent Electric plc (NYSE:NVT) by 46.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,620 shares of the company’s stock after purchasing an additional 1,786 shares during the quarter. QRG Capital Management Inc.’s holdings in nVent Electric were worth $383,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NVT. Janney Montgomery Scott LLC increased its stake in nVent Electric by 5.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 24,807 shares of the company’s stock valued at $1,743,000 after purchasing an additional 1,273 shares in the last quarter. Van ECK Associates Corp increased its stake in nVent Electric by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 96,214 shares of the company’s stock valued at $7,026,000 after purchasing an additional 27,492 shares in the last quarter. Impax Asset Management Group plc increased its stake in nVent Electric by 27.1% during the 3rd quarter. Impax Asset Management Group plc now owns 22,601 shares of the company’s stock valued at $1,588,000 after purchasing an additional 4,812 shares in the last quarter. Marks Group Wealth Management Inc acquired a new position in nVent Electric during the 3rd quarter valued at approximately $9,473,000. Finally, Principal Financial Group Inc. increased its stake in nVent Electric by 1.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company’s stock valued at $123,891,000 after purchasing an additional 28,876 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NVT. Citigroup cut their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada increased their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Barclays cut their price objective on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating on the stock in a research note on Monday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $85.50.

nVent Electric Stock Up 1.7 %

NYSE:NVT opened at $56.03 on Thursday. The company’s fifty day moving average price is $66.92 and its 200-day moving average price is $69.89. nVent Electric plc has a 1-year low of $53.30 and a 1-year high of $86.57. The firm has a market capitalization of $9.25 billion, a P/E ratio of 28.58, a PEG ratio of 1.48 and a beta of 1.31. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28.

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

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is presently 40.82%.

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.