Hsbc Holdings PLC Sells 156,643 Shares of nVent Electric plc (NYSE:NVT)

Hsbc Holdings PLC cut its stake in nVent Electric plc (NYSE:NVT) by 80.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,284 shares of the company’s stock after selling 156,643 shares during the quarter. Hsbc Holdings PLC’s holdings in nVent Electric were worth $2,623,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NVT. World Investment Advisors LLC bought a new position in shares of nVent Electric in the third quarter valued at about $314,000. Wilmington Savings Fund Society FSB acquired a new position in shares of nVent Electric in the third quarter valued at about $124,000. Tidal Investments LLC grew its stake in shares of nVent Electric by 42.0% in the third quarter. Tidal Investments LLC now owns 46,016 shares of the company’s stock valued at $3,233,000 after acquiring an additional 13,621 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of nVent Electric by 22.1% in the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock valued at $527,374,000 after acquiring an additional 1,269,335 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of nVent Electric by 1.7% in the third quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company’s stock valued at $123,891,000 after acquiring an additional 28,876 shares in the last quarter. 90.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

NVT has been the topic of several research reports. CL King upgraded shares of nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Monday, March 17th. The Goldman Sachs Group decreased their price target on shares of nVent Electric from $86.00 to $74.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Barclays decreased their price target on shares of nVent Electric from $70.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Seaport Res Ptn upgraded shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 21st. Finally, Royal Bank of Canada increased their price objective 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, nVent Electric currently has an average rating of “Buy” and an average price target of $69.00.

nVent Electric Price Performance

NVT stock opened at $54.84 on Thursday. The stock has a market capitalization of $9.03 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. The company’s 50-day moving average is $53.72 and its 200-day moving average is $65.63. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. nVent Electric plc has a 1 year low of $41.71 and a 1 year high of $86.57.

nVent Electric (NYSE:NVT) last posted its quarterly earnings data 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%. Equities research analysts expect that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, April 25th. 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.