Impax Asset Management Group plc Boosts Stake in nVent Electric plc (NYSE:NVT)

Impax Asset Management Group plc lifted its position in nVent Electric plc (NYSE:NVT) by 27.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,601 shares of the company’s stock after purchasing an additional 4,812 shares during the quarter. Impax Asset Management Group plc’s holdings in nVent Electric were worth $1,588,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NVT. Private Advisor Group LLC grew its position in shares of nVent Electric by 6.1% during the first quarter. Private Advisor Group LLC now owns 6,598 shares of the company’s stock worth $498,000 after acquiring an additional 382 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in nVent Electric by 3.2% during the 1st quarter. BNP Paribas Financial Markets now owns 66,641 shares of the company’s stock worth $5,025,000 after purchasing an additional 2,064 shares during the period. Janney Montgomery Scott LLC grew its position in nVent Electric by 92.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 18,877 shares of the company’s stock worth $1,423,000 after purchasing an additional 9,081 shares during the last quarter. Nordea Investment Management AB increased its stake in nVent Electric by 15.5% in the first quarter. Nordea Investment Management AB now owns 75,323 shares of the company’s stock valued at $5,684,000 after purchasing an additional 10,135 shares during the period. Finally, Jennison Associates LLC purchased a new stake in shares of nVent Electric in the first quarter valued at about $22,784,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NVT shares. Royal Bank of Canada lowered their price target on nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday. Barclays lowered their target price on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Finally, KeyCorp upped their price target on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nVent Electric has an average rating of “Buy” and a consensus price target of $85.33.

Insider Activity

In related news, insider Michael B. Faulconer sold 20,004 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the sale, the insider now owns 19,766 shares in the company, valued at approximately $1,251,978.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Herbert K. Parker acquired 7,566 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $65.71 per share, with a total value of $497,161.86. Following the purchase, the director now directly owns 34,524 shares in the company, valued at $2,268,572.04. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael B. Faulconer sold 20,004 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the completion of the sale, the insider now directly owns 19,766 shares in the company, valued at $1,251,978.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

nVent Electric Stock Up 1.4 %

NVT opened at $69.78 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.36. nVent Electric plc has a 12 month low of $49.08 and a 12 month high of $86.57. The stock has a market capitalization of $11.60 billion, a P/E ratio of 20.46, a P/E/G ratio of 1.40 and a beta of 1.26. The business has a 50 day simple moving average of $69.59 and a 200-day simple moving average of $73.09.

nVent Electric (NYSE:NVT) last released its earnings results on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The business had revenue of $880.30 million during the quarter, compared to analyst estimates of $892.89 million. nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. nVent Electric’s revenue was up 9.6% compared to the same quarter last year. During the same period last year, the business posted $0.77 EPS. On average, equities analysts anticipate that nVent Electric plc will post 3.26 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a dividend of $0.19 per share. The ex-dividend date was Friday, October 18th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.09%. nVent Electric’s dividend payout ratio (DPR) is presently 22.29%.

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.