Artemis Investment Management LLP Increases Position in nVent Electric PLC (NYSE:NVT)

Artemis Investment Management LLP raised its position in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 39.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 0.65% of nVent Electric worth $55,852,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its holdings in shares of nVent Electric by 4.1% during the 4th quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company's stock worth $259,000 after acquiring an additional 150 shares during the last quarter. Utah Retirement Systems lifted its stake in shares of nVent Electric by 2.3% in the 4th quarter. Utah Retirement Systems now owns 8,923 shares of the company's stock valued at $608,000 after acquiring an additional 200 shares during the last quarter. Hancock Whitney Corp boosted its holdings in nVent Electric by 1.4% during the 4th quarter. Hancock Whitney Corp now owns 15,031 shares of the company's stock valued at $1,025,000 after acquiring an additional 206 shares during the period. Portside Wealth Group LLC boosted its holdings in nVent Electric by 3.2% during the 1st quarter. Portside Wealth Group LLC now owns 7,152 shares of the company's stock valued at $375,000 after acquiring an additional 219 shares during the period. Finally, Keybank National Association OH grew its position in nVent Electric by 2.5% during the 4th quarter. Keybank National Association OH now owns 9,509 shares of the company's stock worth $648,000 after acquiring an additional 229 shares during the last quarter. Institutional investors own 90.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NVT. CL King upgraded nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective for the company in a research report on Monday, March 17th. Citigroup reduced their target price on nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Seaport Res Ptn raised shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. Royal Bank Of Canada boosted their price objective on shares of nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Finally, KeyCorp lifted their price objective on nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $70.67.

Insider Buying and Selling

In other news, EVP Lynnette R. Heath sold 4,041 shares of the company'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 transaction, the executive vice president now directly owns 32,665 shares in the company, valued at approximately $2,003,997.75. This represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.

nVent Electric Stock Up 1.8%

NVT opened at $73.27 on Friday. nVent Electric PLC has a 1-year low of $41.71 and a 1-year high of $81.55. The company has a market capitalization of $12.06 billion, a PE ratio of 20.93, a PEG ratio of 1.44 and a beta of 1.30. The firm's 50 day simple moving average is $64.09 and its two-hundred day simple moving average is $63.16. 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 (NYSE:NVT - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. nVent Electric had a return on equity of 13.54% and a net margin of 18.22%. The business had revenue of $809.30 million for the quarter, compared to analysts' expectations of $790.74 million. During the same period last year, the firm earned $0.78 earnings per share. The business's quarterly revenue was up 10.5% on a year-over-year basis. As a group, equities analysts forecast that nVent Electric PLC will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be issued a $0.20 dividend. The ex-dividend date is Friday, July 18th. This represents a $0.80 annualized dividend and a dividend yield of 1.09%. nVent Electric's dividend payout ratio (DPR) is presently 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.

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