nVent Electric PLC (NYSE:NVT) Shares Bought by Artemis Investment Management LLP

Artemis Investment Management LLP boosted its stake in nVent Electric PLC (NYSE:NVT - Free Report) by 39.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,065,462 shares of the company's stock after purchasing an additional 302,387 shares during the period. Artemis Investment Management LLP owned about 0.65% of nVent Electric worth $55,852,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Diversified Trust Co boosted its position in nVent Electric by 35.0% during the 1st quarter. Diversified Trust Co now owns 10,624 shares of the company's stock valued at $557,000 after acquiring an additional 2,755 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of nVent Electric by 27.4% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 19,307 shares of the company's stock worth $1,012,000 after buying an additional 4,149 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of nVent Electric by 11.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 52,195 shares of the company's stock worth $2,736,000 after buying an additional 5,342 shares during the period. Lecap Asset Management Ltd. increased its position in nVent Electric by 325.6% during the 1st quarter. Lecap Asset Management Ltd. now owns 65,740 shares of the company's stock valued at $3,446,000 after buying an additional 50,295 shares in the last quarter. Finally, Silver Lake Advisory LLC bought a new position in nVent Electric in the 1st quarter worth about $1,649,000. Institutional investors own 90.05% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on NVT shares. Royal Bank Of Canada boosted their price objective on shares of nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a report on Monday, May 5th. CL King raised nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price target on the stock in a report on Monday, March 17th. Seaport Res Ptn raised nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. The Goldman Sachs Group reduced their price objective on nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Finally, KeyCorp raised their price objective on shares of nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $70.67.

Insider Activity at nVent Electric

In other news, EVP Lynnette R. Heath sold 4,041 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $61.35, for a total value of $247,915.35. Following the sale, the executive vice president now directly owns 32,665 shares in the company, valued at approximately $2,003,997.75. This trade represents a 11.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.50% of the stock is currently owned by corporate insiders.

nVent Electric Price Performance

Shares of NVT stock traded up $0.09 on Monday, reaching $73.44. The company's stock had a trading volume of 911,232 shares, compared to its average volume of 1,944,341. The company has a market capitalization of $12.09 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 1.47 and a beta of 1.30. The stock's fifty day simple moving average is $64.56 and its 200-day simple moving average is $62.98. The company has a current ratio of 2.87, a quick ratio of 2.42 and a debt-to-equity ratio of 0.48. nVent Electric PLC has a 1 year low of $41.71 and a 1 year high of $81.55.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. The business had revenue of $809.30 million during the quarter, compared to analyst estimates of $790.74 million. nVent Electric had a return on equity of 13.54% and a net margin of 18.22%. The company's revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the company earned $0.78 EPS. Analysts forecast that nVent Electric PLC will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, July 18th. This represents a $0.80 annualized dividend and a yield of 1.09%. nVent Electric's payout ratio is currently 22.86%.

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.