nVent Electric PLC (NYSE:NVT) Shares Acquired by Copeland Capital Management LLC

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its position in nVent Electric by 381.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,996 shares of the company's stock valued at $106,000 after buying an additional 1,581 shares during the last quarter. LPL Financial LLC lifted its position in shares of nVent Electric by 12.6% during the fourth quarter. LPL Financial LLC now owns 140,043 shares of the company's stock worth $9,545,000 after purchasing an additional 15,685 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of nVent Electric by 6.2% during the first quarter. Janney Montgomery Scott LLC now owns 27,252 shares of the company's stock worth $1,429,000 after purchasing an additional 1,591 shares during the last quarter. Haverford Trust Co lifted its position in shares of nVent Electric by 0.8% during the fourth quarter. Haverford Trust Co now owns 553,146 shares of the company's stock worth $37,702,000 after purchasing an additional 4,538 shares during the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of nVent Electric by 41.4% during the first quarter. Fifth Third Bancorp now owns 2,811 shares of the company's stock worth $147,000 after purchasing an additional 823 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the firm's stock in a transaction that occurred on 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 owns 32,665 shares in the company, valued at approximately $2,003,997.75. This trade represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NVT shares. CL King raised shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price target on the stock in a research report on Monday, March 17th. The Goldman Sachs Group reduced their price target on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Barclays increased their price target on shares of nVent Electric from $70.00 to $74.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Royal Bank Of Canada increased their price target on shares of nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Finally, KeyCorp increased their price target on shares of nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Six research 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 has a consensus rating of "Buy" and a consensus target price of $70.67.

nVent Electric Stock Performance

NYSE NVT traded up $0.32 during trading hours on Friday, reaching $73.45. The company's stock had a trading volume of 2,046,895 shares, compared to its average volume of 1,947,026. 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 business has a 50-day simple moving average of $64.56 and a 200 day simple moving average of $63.07. nVent Electric PLC has a 52 week low of $41.71 and a 52 week high of $81.55. The stock has a market cap of $12.09 billion, a PE ratio of 20.98, a PEG ratio of 1.47 and a beta of 1.30.

nVent Electric (NYSE:NVT - Get Free Report) last issued its earnings results 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 net margin of 18.22% and a return on equity of 13.54%. The firm had revenue of $809.30 million for the quarter, compared to analysts' expectations of $790.74 million. During the same quarter last year, the company posted $0.78 earnings per share. nVent Electric's revenue was up 10.5% on a year-over-year basis. Equities research analysts predict that nVent Electric PLC will post 3.04 earnings per share for the current fiscal year.

nVent Electric Announces Dividend

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

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.