Corient Private Wealth LLC Has $4.90 Million Position in nVent Electric plc (NYSE:NVT)

Corient Private Wealth LLC boosted its holdings in nVent Electric plc (NYSE:NVT) by 198.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 71,873 shares of the company’s stock after purchasing an additional 47,761 shares during the quarter. Corient Private Wealth LLC’s holdings in nVent Electric were worth $4,899,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Crews Bank & Trust acquired a new stake in nVent Electric in the 4th quarter valued at $26,000. Larson Financial Group LLC grew its position in nVent Electric by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after purchasing an additional 181 shares during the period. Brooklyn Investment Group acquired a new stake in nVent Electric in the 3rd quarter valued at $44,000. Tsfg LLC acquired a new stake in nVent Electric in the 4th quarter valued at $51,000. Finally, Raleigh Capital Management Inc. grew its position in nVent Electric by 547.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock valued at $51,000 after purchasing an additional 635 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NVT shares. Citigroup reduced their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. CL King raised shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Monday, March 17th. Royal Bank of Canada lifted 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. Finally, Barclays cut their price objective 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. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $83.33.

nVent Electric Trading Up 0.4 %

NYSE NVT opened at $57.11 on Friday. The stock has a market capitalization of $9.42 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 1.48 and a beta of 1.31. nVent Electric plc has a one year low of $51.99 and a one year 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 business’s fifty day moving average is $63.63 and its 200-day moving average is $68.98.

nVent Electric (NYSE:NVT) last released its earnings results on Thursday, February 6th. The company reported $0.59 EPS 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 predict that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently announced 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Friday, April 25th. nVent Electric’s payout ratio is 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.