Daiwa Securities Group Inc. Acquires 7,550 Shares of nVent Electric plc (NYSE:NVT)

Daiwa Securities Group Inc. increased its holdings in shares of nVent Electric plc (NYSE:NVT) by 16.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,700 shares of the company’s stock after purchasing an additional 7,550 shares during the quarter. Daiwa Securities Group Inc.’s holdings in nVent Electric were worth $3,660,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Franklin Resources Inc. boosted its stake in shares of nVent Electric by 22.1% during the 3rd quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock worth $527,374,000 after buying an additional 1,269,335 shares during the last quarter. State Street Corp raised its holdings in nVent Electric by 0.9% during the third quarter. State Street Corp now owns 5,031,623 shares of the company’s stock worth $353,522,000 after acquiring an additional 42,465 shares in the last quarter. Geode Capital Management LLC raised its holdings in nVent Electric by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company’s stock worth $194,894,000 after acquiring an additional 29,794 shares in the last quarter. Janus Henderson Group PLC boosted its position in nVent Electric by 23.6% during the third quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock valued at $171,492,000 after purchasing an additional 466,042 shares during the last quarter. Finally, Clean Energy Transition LLP grew its stake in nVent Electric by 56.5% in the third quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock valued at $158,411,000 after purchasing an additional 813,909 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on NVT. Citigroup cut their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Royal Bank of Canada increased their price target on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, Barclays decreased their price objective on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $86.00.

nVent Electric Stock Performance

Shares of NYSE NVT opened at $54.16 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $8.94 billion, a P/E ratio of 27.63, a P/E/G ratio of 1.48 and a beta of 1.31. nVent Electric plc has a 12 month low of $51.99 and a 12 month high of $86.57. The stock has a 50 day moving average of $65.26 and a 200-day moving average of $69.39.

nVent Electric (NYSE:NVT) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.59 EPS for the quarter, hitting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. As a group, equities research analysts predict that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 annualized dividend and a yield of 1.48%. 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.