7,500 Shares in nVent Electric plc (NYSE:NVT) Bought by Wolverine Asset Management LLC

Wolverine Asset Management LLC purchased a new position in shares of nVent Electric plc (NYSE:NVT) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 7,500 shares of the company’s stock, valued at approximately $511,000.

A number of other hedge funds have also bought and sold shares of the business. MassMutual Private Wealth & Trust FSB lifted its holdings in nVent Electric by 26.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock worth $53,000 after acquiring an additional 162 shares during the period. CIBC Asset Management Inc lifted its holdings in nVent Electric by 3.6% during the third quarter. CIBC Asset Management Inc now owns 4,823 shares of the company’s stock worth $339,000 after acquiring an additional 166 shares during the period. Calamos Advisors LLC lifted its holdings in nVent Electric by 1.6% during the fourth quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock worth $782,000 after acquiring an additional 176 shares during the period. Larson Financial Group LLC lifted its holdings 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 acquiring an additional 181 shares during the period. Finally, Huntington National Bank lifted its holdings 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 acquiring an additional 223 shares during the period. 90.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on NVT shares. Barclays raised their target price on nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Royal Bank of Canada raised their target price on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Citigroup decreased their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $86.33.

nVent Electric Price Performance

Shares of NYSE NVT opened at $62.64 on Monday. The stock has a market cap of $10.34 billion, a PE ratio of 31.96, a price-to-earnings-growth ratio of 1.48 and a beta of 1.26. nVent Electric plc has a fifty-two week low of $56.44 and a fifty-two week high of $86.57. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The stock has a fifty day moving average of $68.84 and a 200-day moving average of $70.25.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. Equities research analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Friday, April 25th. 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.