Intrust Bank NA Acquires 760 Shares of nVent Electric plc (NYSE:NVT)

Intrust Bank NA raised its holdings in nVent Electric plc (NYSE:NVT) by 19.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,719 shares of the company’s stock after acquiring an additional 760 shares during the quarter. Intrust Bank NA’s holdings in nVent Electric were worth $322,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. MassMutual Private Wealth & Trust FSB boosted its stake in shares of nVent Electric by 26.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company’s stock valued at $53,000 after purchasing an additional 162 shares during the period. Calamos Advisors LLC lifted its holdings in nVent Electric by 1.6% during the 4th quarter. Calamos Advisors LLC now owns 11,468 shares of the company’s stock valued at $782,000 after buying an additional 176 shares in the last quarter. Larson Financial Group LLC boosted its position in nVent Electric by 91.9% in the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after buying an additional 181 shares during the period. Keybank National Association OH grew its stake in nVent Electric by 2.5% in the 4th quarter. Keybank National Association OH now owns 9,509 shares of the company’s stock worth $648,000 after acquiring an additional 229 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of nVent Electric by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 5,078 shares of the company’s stock worth $346,000 after acquiring an additional 255 shares during the period. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

NVT has been the subject of a number of research reports. 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 report on Monday, March 17th. KeyCorp dropped their price target on nVent Electric from $84.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday. 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. Citigroup cut their target price on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Barclays lowered their price target on shares of nVent Electric from $83.00 to $75.00 and set an “overweight” rating for the company in a research report on Wednesday, March 26th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $80.50.

nVent Electric Stock Down 3.1 %

Shares of nVent Electric stock opened at $52.89 on Monday. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The company has a market cap of $8.73 billion, a P/E ratio of 26.98, a PEG ratio of 1.48 and a beta of 1.31. The firm’s 50 day moving average price is $62.19 and its 200-day moving average price is $68.84. nVent Electric plc has a 52-week low of $51.99 and a 52-week high of $86.57.

nVent Electric (NYSE:NVT) last released its quarterly earnings results 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%. On average, sell-side analysts predict that nVent Electric plc will post 3.04 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently declared 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. This represents a $0.80 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is presently 40.82%.

nVent Electric Company Profile

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.