New Age Alpha Advisors LLC Purchases New Holdings in nVent Electric plc (NYSE:NVT)

New Age Alpha Advisors LLC acquired a new position in nVent Electric plc (NYSE:NVT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 35,805 shares of the company’s stock, valued at approximately $2,440,000.

Several other institutional investors have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB raised its holdings in shares of nVent Electric by 26.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock worth $53,000 after buying an additional 162 shares during the period. Calamos Advisors LLC increased its stake in nVent Electric by 1.6% in the fourth quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock worth $782,000 after purchasing an additional 176 shares during the period. Larson Financial Group LLC lifted its position in shares of 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 purchasing an additional 181 shares during the last quarter. Keybank National Association OH boosted its stake in shares of nVent Electric by 2.5% during the fourth quarter. Keybank National Association OH now owns 9,509 shares of the company’s stock valued at $648,000 after purchasing an additional 229 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in shares of nVent Electric by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 5,078 shares of the company’s stock worth $346,000 after purchasing an additional 255 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NVT. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a report on Friday, March 21st. CL King upgraded nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a report on Monday, March 17th. Citigroup dropped their price objective on nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Barclays lowered their target price on nVent Electric from $83.00 to $75.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Royal Bank of Canada raised their price target on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, nVent Electric has a consensus rating of “Buy” and a consensus target price of $80.50.

nVent Electric Stock Down 3.1 %

Shares of 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 stock’s fifty day simple moving average is $62.19 and its two-hundred day simple moving average is $68.80. The stock 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 current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65.

nVent Electric (NYSE:NVT) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.59 earnings per share for the quarter, meeting 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, analysts expect that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

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 paid a dividend of $0.20 per share. The ex-dividend date is Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.51%. nVent Electric’s dividend payout ratio (DPR) is presently 40.82%.

nVent Electric 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.