OneAscent Wealth Management LLC Lowers Position in nVent Electric plc (NYSE:NVT)

OneAscent Wealth Management LLC trimmed its position in shares of nVent Electric plc (NYSE:NVT) by 35.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,380 shares of the company’s stock after selling 2,903 shares during the quarter. OneAscent Wealth Management LLC’s holdings in nVent Electric were worth $367,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB lifted its position in shares of nVent Electric by 16.9% during the fourth quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock valued at $6,378,000 after purchasing an additional 13,483 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of 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 in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of nVent Electric in the 4th quarter worth approximately $1,520,000. TT International Asset Management LTD boosted its stake in shares of nVent Electric by 20.4% in the 4th quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock worth $7,388,000 after buying an additional 18,376 shares during the last quarter. Finally, LVM Capital Management Ltd. MI grew its holdings in shares of nVent Electric by 8.1% in the fourth quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock valued at $10,307,000 after acquiring an additional 11,349 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

nVent Electric Price Performance

Shares of NYSE:NVT opened at $52.89 on Friday. The firm has a market capitalization of $8.73 billion, a PE ratio of 26.98, a P/E/G 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. The company has a 50-day moving average price of $62.19 and a two-hundred day moving average price of $68.76. nVent Electric plc has a twelve month low of $51.99 and a twelve month high of $86.57.

nVent Electric (NYSE:NVT) last released its quarterly earnings data 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 analysts forecast that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.51%. nVent Electric’s payout ratio is 40.82%.

Analysts Set New Price Targets

Several research firms have weighed in on NVT. CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Monday, March 17th. KeyCorp cut their price target on shares of nVent Electric from $84.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday. Citigroup decreased their price objective on shares of 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 research note on Wednesday. Finally, Royal Bank of Canada raised their price target 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 investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $80.50.

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.