Goldman Sachs Group Inc. Increases Stock Holdings in nVent Electric plc (NYSE:NVT)

Goldman Sachs Group Inc. increased its holdings in shares of nVent Electric plc (NYSE:NVTFree Report) by 50.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,633,421 shares of the company’s stock after purchasing an additional 547,624 shares during the quarter. Goldman Sachs Group Inc.’s holdings in nVent Electric were worth $96,519,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Quent Capital LLC lifted its holdings in shares of nVent Electric by 123.2% during 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 period. Pacific Center for Financial Services purchased a new position in nVent Electric during the third quarter worth approximately $32,000. Headlands Technologies LLC acquired a new position in shares of nVent Electric in the 3rd quarter valued at $35,000. Smithfield Trust Co grew its stake in shares of nVent Electric by 650.0% during the 4th quarter. Smithfield Trust Co now owns 630 shares of the company’s stock valued at $36,000 after buying an additional 546 shares during the period. Finally, GAMMA Investing LLC acquired a new position in nVent Electric in the fourth quarter valued at $56,000. 90.05% of the stock is owned by institutional investors and hedge funds.

nVent Electric Stock Performance

nVent Electric stock opened at $78.23 on Tuesday. The company has a market cap of $12.99 billion, a PE ratio of 22.81, a P/E/G ratio of 1.78 and a beta of 1.31. nVent Electric plc has a 12 month low of $45.60 and a 12 month high of $86.57. The company has a fifty day moving average price of $77.63 and a two-hundred day moving average price of $67.59. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.99 and a quick ratio of 1.35.

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

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Friday, July 19th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Friday, July 19th. nVent Electric’s dividend payout ratio is presently 22.16%.

Analyst Upgrades and Downgrades

NVT has been the subject of a number of recent research reports. Royal Bank of Canada lowered their target price on nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a research note on Monday, May 6th. Barclays upped their target price on nVent Electric from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. Deutsche Bank Aktiengesellschaft started coverage on shares of nVent Electric in a research report on Monday, March 11th. They set a “buy” rating and a $83.00 price target for the company. Citigroup raised their price objective on shares of nVent Electric from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Finally, The Goldman Sachs Group upped 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 investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, nVent Electric has a consensus rating of “Moderate Buy” and a consensus target price of $89.00.

Check Out Our Latest Stock Analysis on nVent Electric

nVent Electric Company 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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