Artemis Investment Management LLP Acquires 50,540 Shares of nVent Electric plc (NYSE:NVT)

Artemis Investment Management LLP lifted its position in nVent Electric plc (NYSE:NVT) by 28.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 227,194 shares of the company’s stock after purchasing an additional 50,540 shares during the period. Artemis Investment Management LLP owned about 0.14% of nVent Electric worth $15,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the business. Nordea Investment Management AB lifted its holdings in nVent Electric by 15.5% in the 1st quarter. Nordea Investment Management AB now owns 75,323 shares of the company’s stock worth $5,684,000 after purchasing an additional 10,135 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of nVent Electric by 6.6% in the second quarter. Federated Hermes Inc. now owns 410,902 shares of the company’s stock worth $31,479,000 after buying an additional 25,482 shares in the last quarter. Mountain Pacific Investment Advisers Inc. ID boosted its position in shares of nVent Electric by 85.1% during the first quarter. Mountain Pacific Investment Advisers Inc. ID now owns 116,629 shares of the company’s stock worth $8,794,000 after acquiring an additional 53,633 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in nVent Electric by 4.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 190,240 shares of the company’s stock valued at $14,344,000 after acquiring an additional 8,489 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in nVent Electric by 18.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 306,319 shares of the company’s stock valued at $23,099,000 after acquiring an additional 46,748 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

nVent Electric Trading Down 1.5 %

NYSE NVT opened at $70.66 on Wednesday. The firm has a market cap of $11.73 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 1.35 and a beta of 1.27. nVent Electric plc has a 52 week low of $45.60 and a 52 week high of $86.57. The company has a quick ratio of 1.49, a current ratio of 2.17 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average price of $66.34 and a 200 day moving average price of $73.32.

nVent Electric (NYSE:NVT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The company had revenue of $880.30 million for the quarter, compared to analysts’ expectations of $892.89 million. nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. nVent Electric’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the firm earned $0.77 earnings per share. As a group, sell-side analysts forecast that nVent Electric plc will post 3.26 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.08%. The ex-dividend date is Friday, October 18th. nVent Electric’s payout ratio is 22.16%.

Insiders Place Their Bets

In related news, Director Herbert K. Parker purchased 7,566 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was bought at an average cost of $65.71 per share, with a total value of $497,161.86. Following the completion of the acquisition, the director now owns 34,524 shares of the company’s stock, valued at $2,268,572.04. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Lynnette R. Heath sold 8,242 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total transaction of $496,662.92. Following the sale, the executive vice president now directly owns 30,432 shares in the company, valued at $1,833,832.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Herbert K. Parker purchased 7,566 shares of nVent Electric stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average cost of $65.71 per share, with a total value of $497,161.86. Following the acquisition, the director now directly owns 34,524 shares in the company, valued at $2,268,572.04. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 2.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on NVT shares. Barclays dropped their price objective on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. KeyCorp raised nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 price target for the company in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada cut their price target on nVent Electric from $88.00 to $82.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, nVent Electric presently has an average rating of “Buy” and a consensus target price of $85.00.

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.