nVent Electric plc (NYSE:NVT) Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. lowered its position in shares of nVent Electric plc (NYSE:NVT) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 115,652 shares of the company’s stock after selling 1,985 shares during the quarter. Dana Investment Advisors Inc. owned approximately 0.07% of nVent Electric worth $7,883,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB lifted its stake in shares of nVent Electric by 16.9% during the fourth quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock worth $6,378,000 after purchasing an additional 13,483 shares in the last quarter. Geode Capital Management LLC raised its position in shares of nVent Electric by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock valued at $194,894,000 after acquiring an additional 29,794 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of nVent Electric in the 4th quarter worth about $1,520,000. TT International Asset Management LTD boosted its stake in nVent Electric by 20.4% in the fourth quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock valued at $7,388,000 after acquiring an additional 18,376 shares during the period. Finally, LVM Capital Management Ltd. MI grew its stake in nVent Electric by 8.1% during the 4th quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock worth $10,307,000 after buying an additional 11,349 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Price Performance

Shares of nVent Electric stock opened at $56.03 on Thursday. The firm has a fifty day moving average price of $66.92 and a two-hundred day moving average price of $69.89. nVent Electric plc has a fifty-two week low of $53.30 and a fifty-two week high of $86.57. 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 company has a market cap of $9.25 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) 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%. Analysts expect that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The firm 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 dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Friday, April 25th. nVent Electric’s payout ratio is 40.82%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NVT. Citigroup dropped their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. 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, Barclays decreased their price objective on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a report on Monday. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $85.50.

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.