Haverford Trust Co Raises Stock Holdings in nVent Electric plc (NYSE:NVT)

Haverford Trust Co raised its position in shares of nVent Electric plc (NYSE:NVT) by 0.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 553,146 shares of the company’s stock after purchasing an additional 4,538 shares during the quarter. Haverford Trust Co’s holdings in nVent Electric were worth $37,702,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Larson Financial Group LLC boosted its holdings 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 period. Crews Bank & Trust bought a new position in shares of nVent Electric during the fourth quarter valued at approximately $26,000. Brooklyn Investment Group bought a new stake in nVent Electric in the third quarter valued at $44,000. Tsfg LLC purchased a new position in nVent Electric during the 4th quarter valued at $51,000. Finally, Raleigh Capital Management Inc. raised its holdings in nVent Electric by 547.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 751 shares of the company’s stock worth $51,000 after purchasing an additional 635 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NVT shares. Royal Bank of Canada increased their target price on nVent Electric from $85.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Barclays decreased their price target on shares of nVent Electric from $88.00 to $83.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Citigroup reduced 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. Seaport Res Ptn raised shares of nVent Electric from a “hold” rating to a “strong-buy” rating in a research note on Friday. Finally, CL King raised nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Monday, March 17th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, nVent Electric currently has a consensus rating of “Buy” and an average price target of $83.33.

nVent Electric Stock Up 0.4 %

nVent Electric stock opened at $57.11 on Monday. 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 plc has a fifty-two week low of $51.99 and a fifty-two week high of $86.57. The company has a market cap of $9.42 billion, a PE ratio of 29.14, a PEG ratio of 1.48 and a beta of 1.31. The business’s 50-day simple moving average is $63.63 and its two-hundred day simple moving average is $69.06.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.59 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. Equities analysts anticipate 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 issued a $0.20 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.80 dividend on an annualized basis and a yield of 1.40%. nVent Electric’s dividend payout ratio (DPR) is presently 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.