Impax Asset Management Group plc Acquires 4,812 Shares of nVent Electric plc (NYSE:NVT)

Impax Asset Management Group plc grew its holdings in shares of nVent Electric plc (NYSE:NVT) by 27.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of NVT. Huntington National Bank raised its holdings in nVent Electric by 57.3% during the third quarter. Huntington National Bank now owns 612 shares of the company’s stock valued at $43,000 after buying an additional 223 shares in the last quarter. KBC Group NV raised its stake in shares of nVent Electric by 447.8% in the 3rd quarter. KBC Group NV now owns 126,724 shares of the company’s stock valued at $8,904,000 after acquiring an additional 103,592 shares in the last quarter. Haverford Trust Co lifted its holdings in nVent Electric by 3.5% in the 3rd quarter. Haverford Trust Co now owns 548,608 shares of the company’s stock worth $38,545,000 after purchasing an additional 18,718 shares during the last quarter. Victory Capital Management Inc. boosted its position in nVent Electric by 374.4% during the third quarter. Victory Capital Management Inc. now owns 161,954 shares of the company’s stock worth $11,379,000 after purchasing an additional 127,813 shares during the period. Finally, Aptus Capital Advisors LLC grew its holdings in nVent Electric by 14.7% during the third quarter. Aptus Capital Advisors LLC now owns 61,432 shares of the company’s stock valued at $4,316,000 after purchasing an additional 7,882 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Jon D. Lammers sold 67,297 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $76.07, for a total transaction of $5,119,282.79. Following the completion of the transaction, the executive vice president now owns 58,121 shares in the company, valued at $4,421,264.47. This trade represents a 53.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sara E. Zawoyski sold 14,505 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $76.76, for a total value of $1,113,403.80. Following the completion of the sale, the chief financial officer now owns 62,215 shares in the company, valued at $4,775,623.40. This trade represents a 18.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,824 shares of company stock worth $6,841,316 over the last 90 days. Corporate insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NVT shares. KeyCorp boosted their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Royal Bank of Canada cut their target price on shares of nVent Electric from $82.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Finally, Barclays lowered their price target on nVent Electric from $87.00 to $86.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, nVent Electric has a consensus rating of “Buy” and a consensus target price of $85.33.

nVent Electric Stock Performance

NYSE NVT opened at $72.82 on Friday. The company’s fifty day moving average is $71.40 and its two-hundred day moving average is $73.22. The firm has a market capitalization of $12.00 billion, a price-to-earnings ratio of 21.35, a P/E/G ratio of 3.94 and a beta of 1.26. 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 52-week low of $52.26 and a 52-week high of $86.57.

nVent Electric (NYSE:NVT) last released its earnings results on Tuesday, November 5th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. The firm had revenue of $782.00 million for the quarter, compared to analyst estimates of $937.37 million. During the same period last year, the business earned $0.84 earnings per share. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities research analysts forecast that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a $0.19 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 annualized dividend and a yield of 1.04%. nVent Electric’s dividend payout ratio (DPR) is currently 22.29%.

About nVent Electric

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.