ING Groep NV Takes Position in nVent Electric plc (NYSE:NVT)

ING Groep NV bought a new stake in shares of nVent Electric plc (NYSE:NVT) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 20,800 shares of the company’s stock, valued at approximately $1,418,000.

Several other hedge funds also recently modified their holdings of the company. Nordea Investment Management AB boosted its position in shares of nVent Electric by 16.9% in the 4th quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock valued at $6,378,000 after purchasing an additional 13,483 shares during the period. Geode Capital Management LLC increased its stake in nVent Electric by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock valued at $194,894,000 after buying an additional 29,794 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of nVent Electric during the fourth quarter worth $1,520,000. TT International Asset Management LTD lifted its holdings in shares of nVent Electric by 20.4% during the 4th quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock valued at $7,388,000 after buying an additional 18,376 shares during the last quarter. Finally, LVM Capital Management Ltd. MI increased its stake in shares of 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 purchasing an additional 11,349 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

nVent Electric Trading Down 5.8 %

Shares of NYSE:NVT opened at $62.64 on Monday. The firm has a market cap of $10.34 billion, a price-to-earnings ratio of 31.96, a PEG ratio of 1.48 and a beta of 1.26. nVent Electric plc has a 12 month low of $56.44 and a 12 month high of $86.57. The company’s fifty day simple moving average is $68.84 and its 200 day simple moving average is $70.25. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) 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%. As a group, research analysts forecast that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.28%. nVent Electric’s dividend payout ratio is currently 40.82%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NVT shares. Royal Bank of Canada upped their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Barclays boosted their price target on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Citigroup dropped 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. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $86.33.

About nVent Electric

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.