Sciencast Management LP Purchases New Position in nVent Electric plc (NYSE:NVT)

Sciencast Management LP purchased a new stake in nVent Electric plc (NYSE:NVT) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 40,249 shares of the company’s stock, valued at approximately $2,743,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Franklin Resources Inc. boosted its holdings in nVent Electric by 22.1% in the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after purchasing an additional 1,269,335 shares in the last quarter. State Street Corp boosted its holdings in nVent Electric by 0.9% in the third quarter. State Street Corp now owns 5,031,623 shares of the company’s stock valued at $353,522,000 after purchasing an additional 42,465 shares in the last quarter. Geode Capital Management LLC boosted its holdings in nVent Electric by 1.1% in 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. William Blair Investment Management LLC boosted its holdings in nVent Electric by 8.8% in the fourth quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company’s stock valued at $176,630,000 after purchasing an additional 210,690 shares in the last quarter. Finally, Janus Henderson Group PLC boosted 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 in the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NVT has been the subject of several research analyst reports. Citigroup decreased their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Barclays decreased their price objective on nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. 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, CL King raised 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, March 17th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $83.33.

nVent Electric Price Performance

Shares of NYSE NVT opened at $57.11 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The stock has a fifty day moving average price of $63.63 and a 200 day moving average price of $68.98. nVent Electric plc has a 1-year low of $51.99 and a 1-year high of $86.57. The company has a market cap of $9.42 billion, a PE ratio of 29.14, 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 earnings per share 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%. Sell-side analysts forecast that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.40%. The ex-dividend date is Friday, April 25th. nVent Electric’s payout ratio is 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.