Easterly Investment Partners LLC Purchases 8,884 Shares of nVent Electric plc (NYSE:NVT)

Easterly Investment Partners LLC raised its position in shares of nVent Electric plc (NYSE:NVT) by 11.8% in the fourth quarter, Holdings Channel reports. The firm owned 84,454 shares of the company’s stock after acquiring an additional 8,884 shares during the quarter. Easterly Investment Partners LLC’s holdings in nVent Electric were worth $5,756,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of NVT. Franklin Resources Inc. increased its position in shares of nVent Electric by 22.1% during the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after acquiring an additional 1,269,335 shares in the last quarter. State Street Corp boosted its stake in nVent Electric by 0.9% during the 3rd quarter. State Street Corp now owns 5,031,623 shares of the company’s stock valued at $353,522,000 after purchasing an additional 42,465 shares during the last quarter. Norges Bank bought a new stake in shares of nVent Electric in the 4th quarter worth $197,434,000. Geode Capital Management LLC increased its holdings in shares of nVent Electric by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after purchasing an additional 29,794 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in shares of nVent Electric by 8.8% during the fourth quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company’s stock valued at $176,630,000 after purchasing an additional 210,690 shares in the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

nVent Electric Price Performance

NYSE NVT opened at $55.87 on Thursday. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. nVent Electric plc has a 12 month low of $51.99 and a 12 month high of $86.57. The stock has a market cap of $9.22 billion, a price-to-earnings ratio of 28.50, a PEG ratio of 1.48 and a beta of 1.31. The company’s 50 day moving average is $62.92 and its two-hundred day moving average is $68.92.

nVent Electric (NYSE:NVT) last released its quarterly earnings data 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%. As a group, research analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is currently 40.82%.

Analysts Set New Price Targets

NVT has been the subject of a number of recent analyst reports. CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Monday, March 17th. Seaport Res Ptn raised shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. Citigroup lowered their price target on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Royal Bank of Canada lifted their price objective on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Barclays lowered their target price on nVent Electric from $83.00 to $75.00 and set an “overweight” rating on the stock in a report on Wednesday. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $82.00.

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.