New Age Alpha Advisors LLC Invests $2.44 Million in nVent Electric plc (NYSE:NVT)

New Age Alpha Advisors LLC bought a new stake in shares of nVent Electric plc (NYSE:NVT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 35,805 shares of the company’s stock, valued at approximately $2,440,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Larson Financial Group LLC lifted its position 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 valued at $27,000 after buying an additional 181 shares in the last quarter. Crews Bank & Trust purchased a new position in nVent Electric during the fourth quarter valued at approximately $26,000. Brooklyn Investment Group bought a new position in shares of nVent Electric in the third quarter worth approximately $44,000. Tsfg LLC purchased a new stake in shares of nVent Electric in the fourth quarter worth $51,000. Finally, Raleigh Capital Management Inc. raised its position 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 valued at $51,000 after purchasing an additional 635 shares during the period. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NVT. Barclays cut their price target on nVent Electric from $83.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday. CL King upgraded nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Monday, March 17th. Royal Bank of Canada boosted their price target on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Citigroup cut their price objective on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, KeyCorp reduced their price objective on shares of nVent Electric from $84.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $80.50.

nVent Electric Stock Down 3.1 %

NYSE NVT opened at $52.89 on Friday. The stock has a 50 day moving average price of $62.19 and a 200-day moving average price of $68.80. nVent Electric plc has a one year low of $51.99 and a one year high of $86.57. The company has a market capitalization of $8.73 billion, a P/E ratio of 26.98, 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 quick ratio of 1.28 and a current ratio of 1.73.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.59 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 analysts predict that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The business 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 dividend of $0.20 per share. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a yield of 1.51%. nVent Electric’s dividend payout ratio (DPR) is presently 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.