Allianz Asset Management GmbH Acquires 266,267 Shares of nVent Electric plc (NYSE:NVT)

Allianz Asset Management GmbH boosted its holdings in shares of nVent Electric plc (NYSE:NVT) by 83.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 586,370 shares of the company’s stock after buying an additional 266,267 shares during the period. Allianz Asset Management GmbH’s holdings in nVent Electric were worth $39,967,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NVT. Larson Financial Group LLC boosted its stake in shares of nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares in the last quarter. Crews Bank & Trust acquired a new stake in nVent Electric in the 4th quarter worth approximately $26,000. Huntington National Bank boosted its position 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 acquired a new position in nVent Electric during the third quarter valued at approximately $44,000. Finally, Tsfg LLC bought a new position in shares of nVent Electric in the fourth quarter valued at approximately $51,000. 90.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NVT shares. Royal Bank of Canada raised their target price 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. Barclays raised their price target on nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, Citigroup cut their price objective 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 research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $86.33.

nVent Electric Stock Performance

NYSE NVT opened at $62.64 on Monday. The company’s fifty day moving average is $68.84 and its two-hundred day moving average is $70.25. nVent Electric plc has a 52-week low of $56.44 and a 52-week high of $86.57. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The firm has a market capitalization of $10.34 billion, a price-to-earnings ratio of 31.96, a P/E/G ratio of 1.48 and a beta of 1.26.

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

nVent Electric Announces Dividend

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