Envestnet Portfolio Solutions Inc. Purchases 17,362 Shares of nVent Electric plc (NYSE:NVT)

Envestnet Portfolio Solutions Inc. boosted its position in shares of nVent Electric plc (NYSE:NVT) by 115.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,450 shares of the company’s stock after acquiring an additional 17,362 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in nVent Electric were worth $2,212,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its position in nVent Electric by 91.9% during the third quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock worth $27,000 after acquiring an additional 181 shares in the last quarter. Crews Bank & Trust bought a new stake in nVent Electric during the fourth quarter worth $26,000. Brooklyn Investment Group bought a new stake in nVent Electric during the third quarter worth $44,000. Tsfg LLC bought a new stake in nVent Electric during the fourth quarter worth $51,000. Finally, Raleigh Capital Management Inc. raised its position in nVent Electric by 547.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock worth $51,000 after acquiring an additional 635 shares in the last quarter. 90.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Citigroup dropped their price objective on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Barclays dropped their price objective on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. 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 research report on Monday. Finally, Royal Bank of Canada increased their price objective on shares of nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, nVent Electric has an average rating of “Buy” and a consensus price target of $83.33.

nVent Electric Trading Down 0.0 %

NVT stock opened at $56.85 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. The company’s 50-day simple moving average is $63.87 and its 200 day simple moving average is $69.05. nVent Electric plc has a 52 week low of $51.99 and a 52 week high of $86.57. The company has a market capitalization of $9.38 billion, a PE ratio of 29.01, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, meeting the consensus estimate of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. As a group, sell-side 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. Shareholders of record on Friday, April 25th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a yield of 1.41%. 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.