Vaughan Nelson Investment Management L.P. Raises Holdings in nVent Electric plc (NYSE:NVT)

Vaughan Nelson Investment Management L.P. increased its holdings in nVent Electric plc (NYSE:NVT) by 42.8% in the 1st quarter, HoldingsChannel reports. The fund owned 523,456 shares of the company’s stock after purchasing an additional 156,879 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in nVent Electric were worth $39,468,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Congress Wealth Management LLC DE boosted its position in shares of nVent Electric by 7.3% during the first quarter. Congress Wealth Management LLC DE now owns 255,741 shares of the company’s stock worth $19,283,000 after buying an additional 17,416 shares during the period. Park Place Capital Corp boosted its position in shares of nVent Electric by 39.7% during the first quarter. Park Place Capital Corp now owns 1,749 shares of the company’s stock worth $132,000 after buying an additional 497 shares during the period. Oliver Luxxe Assets LLC boosted its position in shares of nVent Electric by 0.8% during the first quarter. Oliver Luxxe Assets LLC now owns 56,781 shares of the company’s stock worth $4,281,000 after buying an additional 426 shares during the period. LVW Advisors LLC purchased a new position in shares of nVent Electric during the first quarter worth $221,000. Finally, Harbour Capital Advisors LLC boosted its position in shares of nVent Electric by 22.4% during the first quarter. Harbour Capital Advisors LLC now owns 10,525 shares of the company’s stock worth $791,000 after buying an additional 1,925 shares during the period. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NVT shares. Royal Bank of Canada lowered their price target on nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. Deutsche Bank Aktiengesellschaft started coverage on nVent Electric in a research note on Monday, March 11th. They issued a “buy” rating and a $83.00 price objective on the stock. The Goldman Sachs Group increased their price objective on nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Barclays increased their price objective on nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th. Finally, Citigroup increased their price objective on nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Monday, May 6th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, nVent Electric currently has a consensus rating of “Moderate Buy” and an average price target of $89.00.

nVent Electric Stock Up 0.7 %

nVent Electric stock opened at $75.62 on Wednesday. nVent Electric plc has a 1-year low of $45.60 and a 1-year high of $86.57. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.99 and a quick ratio of 1.35. The stock has a market cap of $12.55 billion, a PE ratio of 22.05, a P/E/G ratio of 1.68 and a beta of 1.31. The stock’s fifty day moving average is $78.84 and its two-hundred day moving average is $70.18.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Friday, May 3rd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The company had revenue of $874.60 million for the quarter, compared to analysts’ expectations of $864.14 million. During the same period last year, the firm earned $0.67 earnings per share. nVent Electric’s quarterly revenue was up 18.0% on a year-over-year basis. On average, sell-side analysts expect that nVent Electric plc will post 3.27 EPS for the current fiscal year.

nVent Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Friday, July 19th. nVent Electric’s dividend payout ratio is presently 22.16%.

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.