Gabelli Funds LLC Sells 8,150 Shares of nVent Electric plc (NYSE:NVT)

Gabelli Funds LLC lessened its stake in nVent Electric plc (NYSE:NVTFree Report) by 10.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,850 shares of the company’s stock after selling 8,150 shares during the period. Gabelli Funds LLC’s holdings in nVent Electric were worth $4,305,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of NVT. FinTrust Capital Advisors LLC lifted its position in nVent Electric by 17.5% in the fourth quarter. FinTrust Capital Advisors LLC now owns 1,056 shares of the company’s stock valued at $62,000 after purchasing an additional 157 shares during the last quarter. Private Advisor Group LLC boosted its position in nVent Electric by 3.2% during the 4th quarter. Private Advisor Group LLC now owns 6,216 shares of the company’s stock valued at $367,000 after buying an additional 191 shares during the period. State of Michigan Retirement System boosted its position in nVent Electric by 0.5% during the 4th quarter. State of Michigan Retirement System now owns 39,806 shares of the company’s stock valued at $2,352,000 after buying an additional 200 shares during the period. Quent Capital LLC grew its holdings in nVent Electric by 123.2% in the 4th quarter. Quent Capital LLC now owns 424 shares of the company’s stock worth $25,000 after acquiring an additional 234 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its position in shares of nVent Electric by 5.8% in the fourth quarter. Pinnacle Associates Ltd. now owns 4,281 shares of the company’s stock valued at $253,000 after acquiring an additional 236 shares during the period. Institutional investors own 90.05% of the company’s stock.

nVent Electric Price Performance

NVT opened at $76.94 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.35 and a debt-to-equity ratio of 0.54. The company has a market cap of $12.77 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 1.77 and a beta of 1.31. The stock has a fifty day simple moving average of $77.57 and a two-hundred day simple moving average of $67.23. nVent Electric plc has a 12-month low of $45.60 and a 12-month high of $86.57.

nVent Electric (NYSE:NVTGet Free Report) last issued its quarterly earnings results on Friday, May 3rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.04. nVent Electric had a net margin of 17.02% and a return on equity of 17.47%. The company had revenue of $874.60 million during the quarter, compared to analyst estimates of $864.14 million. During the same period last year, the business earned $0.67 EPS. nVent Electric’s quarterly revenue was up 18.0% compared to the same quarter last year. Research analysts predict that nVent Electric plc will post 3.27 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Friday, July 19th will be issued a dividend of $0.19 per share. The ex-dividend date is Friday, July 19th. This represents a $0.76 annualized dividend and a dividend yield of 0.99%. nVent Electric’s payout ratio is 22.16%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Barclays increased their price objective on nVent Electric from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft assumed coverage on nVent Electric in a research note on Monday, March 11th. They issued a “buy” rating and a $83.00 price target for the company. Citigroup lifted their price target on shares of nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a report on Monday, May 6th. Royal Bank of Canada decreased their price objective on shares of nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a report on Monday, May 6th. Finally, The Goldman Sachs Group lifted their target price on shares of nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Monday, May 6th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $89.00.

Check Out Our Latest Stock Report on nVent Electric

nVent Electric Profile

(Free Report)

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.

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Institutional Ownership by Quarter for nVent Electric (NYSE:NVT)

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