nVent Electric plc (NYSE:NVT) Shares Acquired by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. lifted its position in shares of nVent Electric plc (NYSE:NVT) by 52.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,160 shares of the company’s stock after purchasing an additional 38,990 shares during the period. Tocqueville Asset Management L.P. owned about 0.07% of nVent Electric worth $7,713,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in nVent Electric by 374.4% in the third quarter. Victory Capital Management Inc. now owns 161,954 shares of the company’s stock valued at $11,379,000 after acquiring an additional 127,813 shares in the last quarter. Huntington National Bank raised its holdings in nVent Electric by 57.3% in 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. CIBC Asset Management Inc raised its holdings in nVent Electric by 3.6% in the third quarter. CIBC Asset Management Inc now owns 4,823 shares of the company’s stock valued at $339,000 after acquiring an additional 166 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in nVent Electric by 18.6% in the third quarter. Thrivent Financial for Lutherans now owns 429,615 shares of the company’s stock valued at $30,185,000 after acquiring an additional 67,489 shares in the last quarter. Finally, Whalen Wealth Management Inc. acquired a new stake in nVent Electric in the third quarter valued at $768,000. 90.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on NVT. Barclays cut their price target on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. CL King raised shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Monday. Royal Bank of Canada upped their price target on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Citigroup lowered their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $83.33.

nVent Electric Stock Up 0.1 %

NVT stock opened at $56.72 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. nVent Electric plc has a 1-year low of $51.99 and a 1-year high of $86.57. The firm has a fifty day moving average price of $64.69 and a two-hundred day moving average price of $69.31. The firm has a market cap of $9.36 billion, a price-to-earnings ratio of 28.94, a PEG ratio of 1.48 and a beta of 1.31.

nVent Electric (NYSE:NVT) last released its 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 net margin of 10.09% and a return on equity of 14.52%. Research analysts predict 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. Stockholders of record on Friday, April 25th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.41%. 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.