Duff & Phelps Investment Management Co. Makes New $375,000 Investment in nVent Electric plc (NYSE:NVT)

Duff & Phelps Investment Management Co. bought a new position in shares of nVent Electric plc (NYSE:NVT) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 5,499 shares of the company’s stock, valued at approximately $375,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Franklin Resources Inc. grew its holdings in 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 purchasing an additional 1,269,335 shares during the period. State Street Corp grew its holdings in shares of nVent Electric by 0.9% in the 3rd quarter. State Street Corp now owns 5,031,623 shares of the company’s stock valued at $353,522,000 after buying an additional 42,465 shares during the period. Norges Bank bought a new stake in shares of nVent Electric in the 4th quarter valued at $197,434,000. Geode Capital Management LLC raised its stake in nVent Electric by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after buying an additional 29,794 shares during the period. Finally, William Blair Investment Management LLC lifted its holdings in 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 worth $176,630,000 after acquiring an additional 210,690 shares in the last quarter. 90.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NVT. Citigroup lowered their price target on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Barclays dropped their target price on shares of nVent Electric from $83.00 to $75.00 and set an “overweight” rating on the stock in a report on Wednesday. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a report on Friday, March 21st. KeyCorp dropped their price objective on shares of nVent Electric from $84.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Royal Bank of Canada upped their target price on shares of nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, nVent Electric presently has an average rating of “Buy” and a consensus price target of $80.50.

nVent Electric Price Performance

NYSE NVT opened at $52.89 on Friday. nVent Electric plc has a 12-month low of $51.99 and a 12-month high of $86.57. The firm’s 50 day moving average is $62.19 and its 200-day moving average is $68.76. The company has a market capitalization of $8.73 billion, a PE ratio of 26.98, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65.

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

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 annualized dividend and a yield of 1.51%. nVent Electric’s dividend payout ratio (DPR) is presently 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.