World Equity Group Inc. Increases Stock Position in nVent Electric plc (NYSE:NVT)

World Equity Group Inc. raised its position in shares of nVent Electric plc (NYSE:NVT) by 100.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,940 shares of the company’s stock after purchasing an additional 3,470 shares during the period. World Equity Group Inc.’s holdings in nVent Electric were worth $473,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC increased its holdings in shares of nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after acquiring an additional 181 shares in the last quarter. Crews Bank & Trust bought a new position in shares of nVent Electric during the fourth quarter valued at $26,000. Huntington National Bank increased its holdings in shares of nVent Electric by 57.3% during the third quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after acquiring an additional 223 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of nVent Electric during the third quarter valued at $44,000. Finally, Tsfg LLC bought a new position in shares of nVent Electric during the fourth quarter valued at $51,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Barclays raised their price target on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Royal Bank of Canada raised their price target on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Citigroup reduced their price target on 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, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $86.33.

nVent Electric Price Performance

NYSE NVT opened at $62.64 on Monday. nVent Electric plc has a one year low of $56.44 and a one year high of $86.57. The stock has a 50-day moving average of $68.84 and a 200 day moving average of $70.25. The company has a market capitalization of $10.34 billion, a price-to-earnings ratio of 31.96, a PEG ratio of 1.48 and a beta of 1.26. 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 released its quarterly earnings data on Thursday, February 6th. The company reported $0.59 EPS for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. On average, sell-side analysts forecast that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be paid 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 dividend yield of 1.28%. nVent Electric’s dividend payout ratio is currently 40.82%.

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.