nVent Electric plc (NYSE:NVT) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. reduced its holdings in shares of nVent Electric plc (NYSE:NVT) by 30.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 98,039 shares of the company’s stock after selling 43,332 shares during the quarter. Prudential Financial Inc. owned 0.06% of nVent Electric worth $6,682,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Citigroup Inc. lifted its stake in nVent Electric by 3.3% during the third quarter. Citigroup Inc. now owns 62,044 shares of the company’s stock worth $4,359,000 after purchasing an additional 1,959 shares during the last quarter. Cerity Partners LLC lifted its position in shares of nVent Electric by 145.7% in the 3rd quarter. Cerity Partners LLC now owns 45,248 shares of the company’s stock worth $3,179,000 after buying an additional 26,832 shares during the last quarter. Larson Financial Group LLC grew its position in shares of nVent Electric by 91.9% during 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 last quarter. The Manufacturers Life Insurance Company raised its stake in nVent Electric by 8.2% during the third quarter. The Manufacturers Life Insurance Company now owns 212,096 shares of the company’s stock worth $14,902,000 after acquiring an additional 16,154 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in nVent Electric by 1.2% in the third quarter. BNP Paribas Financial Markets now owns 73,369 shares of the company’s stock worth $5,155,000 after acquiring an additional 874 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Down 3.1 %

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

nVent Electric (NYSE:NVT) last announced its earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. On average, analysts forecast that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Friday, April 25th. nVent Electric’s payout ratio is currently 40.82%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Seaport Res Ptn upgraded nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. CL King upgraded 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. 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. Citigroup cut their price objective 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, KeyCorp decreased their target price on shares of nVent Electric from $84.00 to $75.00 and set an “overweight” rating for the company in a research report on Friday. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, nVent Electric has an average rating of “Buy” and an average price target of $80.50.

nVent Electric 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.