Municipal Employees Retirement System of Michigan acquired a new position in shares of nVent Electric PLC (NYSE:NVT) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 39,160 shares of the company’s stock, valued at approximately $880,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in NVT. Oregon Public Employees Retirement Fund lifted its stake in nVent Electric by 2,187.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,457,025 shares of the company’s stock worth $65,000 after purchasing an additional 1,393,323 shares during the last quarter. AQR Capital Management LLC lifted its stake in nVent Electric by 289.1% during the third quarter. AQR Capital Management LLC now owns 1,283,522 shares of the company’s stock worth $34,861,000 after purchasing an additional 953,685 shares during the last quarter. Clearbridge Investments LLC lifted its stake in nVent Electric by 76.9% during the third quarter. Clearbridge Investments LLC now owns 1,329,489 shares of the company’s stock worth $36,109,000 after purchasing an additional 577,836 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in nVent Electric by 201.7% during the third quarter. Point72 Asset Management L.P. now owns 707,400 shares of the company’s stock worth $19,213,000 after purchasing an additional 472,900 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in nVent Electric by 88.8% during the fourth quarter. Prudential Financial Inc. now owns 595,138 shares of the company’s stock worth $13,366,000 after purchasing an additional 279,842 shares during the last quarter. Hedge funds and other institutional investors own 87.31% of the company’s stock.

NVT stock opened at $26.58 on Thursday. The company has a current ratio of 1.83, a quick ratio of 1.34 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $4.63 billion and a price-to-earnings ratio of 15.28. nVent Electric PLC has a 1 year low of $19.71 and a 1 year high of $29.84.

nVent Electric (NYSE:NVT) last posted its earnings results on Thursday, January 31st. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.01). The company had revenue of $568.10 million during the quarter, compared to the consensus estimate of $547.30 million. nVent Electric had a net margin of 10.43% and a return on equity of 10.08%. As a group, analysts predict that nVent Electric PLC will post 1.87 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Thursday, April 18th will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Wednesday, April 17th. nVent Electric’s payout ratio is 40.23%.

NVT has been the topic of several research analyst reports. Vertical Research upgraded nVent Electric from a “hold” rating to a “buy” rating in a research note on Wednesday, January 2nd. Zacks Investment Research cut nVent Electric from a “hold” rating to a “sell” rating in a research note on Friday, November 30th. Buckingham Research began coverage on nVent Electric in a research note on Tuesday. They set a “buy” rating and a $30.00 price objective on the stock. Finally, KeyCorp reiterated a “buy” rating and issued a $30.00 target price (up from $29.00) on shares of nVent Electric in a research note on Wednesday, February 27th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. nVent Electric currently has a consensus rating of “Buy” and an average target price of $28.86.

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About nVent Electric

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.

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Institutional Ownership by Quarter for nVent Electric (NYSE:NVT)

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