Claret Asset Management Corp Lowers Holdings in nVent Electric plc (NYSE:NVT)

Claret Asset Management Corp cut its stake in shares of nVent Electric plc (NYSE:NVT) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,284 shares of the company’s stock after selling 882 shares during the quarter. Claret Asset Management Corp’s holdings in nVent Electric were worth $2,132,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Nordea Investment Management AB lifted its position in nVent Electric by 16.9% in the 4th quarter. Nordea Investment Management AB now owns 93,172 shares of the company’s stock valued at $6,378,000 after acquiring an additional 13,483 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in nVent Electric during the fourth quarter valued at approximately $1,520,000. TT International Asset Management LTD raised its position in nVent Electric by 20.4% in the fourth quarter. TT International Asset Management LTD now owns 108,395 shares of the company’s stock worth $7,388,000 after acquiring an additional 18,376 shares during the period. LVM Capital Management Ltd. MI boosted its stake in shares of nVent Electric by 8.1% during the 4th quarter. LVM Capital Management Ltd. MI now owns 151,221 shares of the company’s stock worth $10,307,000 after acquiring an additional 11,349 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in shares of nVent Electric by 12.4% during the 4th quarter. Pacer Advisors Inc. now owns 55,790 shares of the company’s stock valued at $3,803,000 after acquiring an additional 6,175 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Price Performance

Shares of nVent Electric stock opened at $49.79 on Friday. The stock has a market cap of $8.20 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. The stock has a 50 day moving average price of $55.98 and a 200-day moving average price of $66.60. nVent Electric plc has a one year low of $41.71 and a one year high of $86.57. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73.

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

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a yield of 1.61%. nVent Electric’s dividend payout ratio is currently 40.82%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. 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 research report on Monday, March 17th. Citigroup cut their target price on nVent Electric from $85.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, April 14th. KeyCorp cut their price objective on shares of nVent Electric from $75.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Seaport Res Ptn raised shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Finally, Barclays dropped their price objective on shares of nVent Electric from $70.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, nVent Electric has a consensus rating of “Buy” and a consensus price target of $69.00.

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.