Copeland Capital Management LLC Purchases 169,818 Shares of nVent Electric PLC (NYSE:NVT)

Copeland Capital Management LLC increased its position in nVent Electric PLC (NYSE:NVT - Free Report) by 43.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 564,318 shares of the company's stock after acquiring an additional 169,818 shares during the period. Copeland Capital Management LLC owned approximately 0.34% of nVent Electric worth $29,582,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Private Advisor Group LLC raised its position in nVent Electric by 15.3% during the fourth quarter. Private Advisor Group LLC now owns 8,383 shares of the company's stock worth $571,000 after acquiring an additional 1,111 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of nVent Electric by 22.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,718,368 shares of the company's stock worth $117,124,000 after purchasing an additional 312,982 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in shares of nVent Electric by 7.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 22,848 shares of the company's stock worth $1,557,000 after purchasing an additional 1,607 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in nVent Electric in the 4th quarter valued at approximately $3,986,000. Finally, QRG Capital Management Inc. boosted its stake in shares of nVent Electric by 46.6% during the fourth quarter. QRG Capital Management Inc. now owns 5,620 shares of the company's stock valued at $383,000 after acquiring an additional 1,786 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

nVent Electric Stock Performance

NYSE:NVT traded down $1.03 during mid-day trading on Tuesday, hitting $72.22. The stock had a trading volume of 2,361,602 shares, compared to its average volume of 1,946,099. nVent Electric PLC has a 52 week low of $41.71 and a 52 week high of $81.55. The company has a current ratio of 2.87, a quick ratio of 2.42 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $11.89 billion, a price-to-earnings ratio of 20.63, a P/E/G ratio of 1.47 and a beta of 1.30. The company has a 50 day simple moving average of $65.07 and a 200-day simple moving average of $62.97.

nVent Electric (NYSE:NVT - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $790.74 million. During the same period in the prior year, the company posted $0.78 EPS. The business's revenue for the quarter was up 10.5% compared to the same quarter last year. On average, research analysts expect that nVent Electric PLC will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Friday, July 18th. nVent Electric's payout ratio is 22.86%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NVT. Seaport Res Ptn upgraded nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. KeyCorp increased their target price on nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. CL King upgraded nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price target for the company in a report on Monday, March 17th. Barclays increased their price objective on shares of nVent Electric from $70.00 to $74.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Finally, Citigroup dropped their price target on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $70.67.

Insider Buying and Selling at nVent Electric

In other news, EVP Lynnette R. Heath sold 4,041 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total transaction of $247,915.35. Following the completion of the sale, the executive vice president directly owned 32,665 shares of the company's stock, valued at $2,003,997.75. This trade represents a 11.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.50% of the company's stock.

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.