Johnson Investment Counsel Inc. Has $64.45 Million Stock Position in nVent Electric plc (NYSE:NVT)

Johnson Investment Counsel Inc. cut its stake in nVent Electric plc (NYSE:NVTFree Report) by 24.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,090,644 shares of the company’s stock after selling 359,374 shares during the period. Johnson Investment Counsel Inc.’s holdings in nVent Electric were worth $64,446,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the company. 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 worth $367,000 after acquiring an additional 191 shares during the last quarter. State of Michigan Retirement System grew its position in nVent Electric by 0.5% in the fourth quarter. State of Michigan Retirement System now owns 39,806 shares of the company’s stock valued at $2,352,000 after purchasing an additional 200 shares in the last quarter. Quent Capital LLC increased its stake in nVent Electric by 123.2% in the 4th quarter. Quent Capital LLC now owns 424 shares of the company’s stock valued at $25,000 after buying an additional 234 shares during the last quarter. Pinnacle Associates Ltd. increased its stake in nVent Electric by 5.8% in the 4th quarter. Pinnacle Associates Ltd. now owns 4,281 shares of the company’s stock valued at $253,000 after buying an additional 236 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. lifted its position in nVent Electric by 4.1% during the 3rd quarter. Cookson Peirce & Co. Inc. now owns 7,012 shares of the company’s stock worth $372,000 after buying an additional 277 shares in the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NVT shares. The Goldman Sachs Group lifted their target price on nVent Electric from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Royal Bank of Canada cut their price objective on nVent Electric from $89.00 to $88.00 and set an “outperform” rating for the company in a report on Monday, May 6th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of nVent Electric in a research note on Monday, March 11th. They issued a “buy” rating and a $83.00 target price for the company. Citigroup increased their price target on shares of nVent Electric from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Finally, Barclays boosted their price objective on shares of nVent Electric from $74.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. One investment 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.00.

Check Out Our Latest Research Report on nVent Electric

nVent Electric Stock Performance

NVT stock traded down $0.33 during midday trading on Friday, reaching $81.74. 1,569,480 shares of the company were exchanged, compared to its average volume of 1,789,369. nVent Electric plc has a one year low of $40.22 and a one year high of $83.78. The firm has a market capitalization of $13.57 billion, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 1.83 and a beta of 1.35. The business has a 50-day moving average price of $73.67 and a two-hundred day moving average price of $62.88. 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 posted its earnings results on Friday, May 3rd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.73 by $0.04. The company had revenue of $874.60 million for the quarter, compared to the consensus estimate of $864.14 million. nVent Electric had a return on equity of 17.47% and a net margin of 17.02%. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.67 earnings per share. Equities research analysts forecast that nVent Electric plc will post 3.26 EPS for the current year.

nVent Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 26th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend was Thursday, April 25th. nVent Electric’s dividend payout ratio is currently 22.16%.

Insiders Place Their Bets

In other news, Director Jerry W. Burris sold 4,008 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $63.39, for a total transaction of $254,067.12. Following the completion of the sale, the director now directly owns 43,072 shares in the company, valued at approximately $2,730,334.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Jerry W. Burris sold 4,008 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $63.39, for a total value of $254,067.12. Following the completion of the transaction, the director now directly owns 43,072 shares in the company, valued at approximately $2,730,334.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael B. Faulconer sold 10,961 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $67.33, for a total transaction of $738,004.13. Following the sale, the insider now owns 33,109 shares in the company, valued at approximately $2,229,228.97. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

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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