Dorsey & Whitney Trust CO LLC Cuts Holdings in nVent Electric plc (NYSE:NVT)

Dorsey & Whitney Trust CO LLC decreased its stake in nVent Electric plc (NYSE:NVT) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,618 shares of the company’s stock after selling 2,113 shares during the quarter. Dorsey & Whitney Trust CO LLC owned approximately 0.05% of nVent Electric worth $5,972,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Crews Bank & Trust acquired a new position in nVent Electric during the fourth quarter worth about $26,000. Larson Financial Group LLC raised its stake in nVent Electric by 91.9% during the third 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 period. Huntington National Bank raised its stake in nVent Electric by 57.3% during the third quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after purchasing an additional 223 shares during the period. Brooklyn Investment Group purchased a new position in nVent Electric during the third quarter worth about $44,000. Finally, Tsfg LLC purchased a new position in nVent Electric during the fourth quarter worth about $51,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NVT. Royal Bank of Canada boosted their price target on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Citigroup reduced 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. Finally, Barclays reduced their price target 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, March 3rd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, nVent Electric has a consensus rating of “Buy” and an average price target of $85.50.

nVent Electric Price Performance

nVent Electric stock opened at $55.02 on Friday. The company has a market cap of $9.08 billion, a price-to-earnings ratio of 28.07, a PEG 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 plc has a 1 year low of $52.78 and a 1 year high of $86.57. The firm has a 50 day moving average price of $66.36 and a 200 day moving average price of $69.71.

nVent Electric (NYSE:NVT) last posted its earnings results 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%. Sell-side analysts predict that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders 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 yield of 1.45%. 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.