Xponance Inc. Raises Holdings in nVent Electric plc (NYSE:NVT)

Xponance Inc. grew its position in nVent Electric plc (NYSE:NVT) by 9.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,784 shares of the company’s stock after buying an additional 1,758 shares during the quarter. Xponance Inc.’s holdings in nVent Electric were worth $1,348,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Crews Bank & Trust purchased a new stake in shares of nVent Electric in the 4th quarter worth $26,000. Larson Financial Group LLC lifted its stake in shares of nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of nVent Electric during the 3rd quarter worth $44,000. Tsfg LLC purchased a new stake in shares of nVent Electric during the 4th quarter worth $51,000. Finally, Raleigh Capital Management Inc. lifted its stake in shares of nVent Electric by 547.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock worth $51,000 after purchasing an additional 635 shares during the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

nVent Electric Trading Up 0.4 %

Shares of NYSE:NVT opened at $57.11 on Friday. The business’s 50-day moving average is $63.63 and its 200 day moving average is $69.01. nVent Electric plc has a 1 year low of $51.99 and a 1 year high of $86.57. The firm has a market capitalization of $9.42 billion, a P/E ratio of 29.14, a P/E/G 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 data on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. On average, research analysts predict that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio is presently 40.82%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Citigroup decreased their price objective 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. Seaport Res Ptn upgraded nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday. Royal Bank of Canada upped their price objective on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. 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 research note on Monday, March 17th. Finally, Barclays reduced their target price on nVent Electric from $88.00 to $83.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, nVent Electric presently has a consensus rating of “Buy” and a consensus price target of $83.33.

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.