Copeland Capital Management LLC Sells 72,147 Shares of nVent Electric PLC $NVT

Key Points

• Copeland Capital Management cut its stake in nVent by 20.4% in Q4, selling 72,147 shares and leaving it with 282,078 shares worth about $28.76 million.
• nVent beat expectations last quarter with EPS of $0.90 (vs. $0.89) and revenue of $1.07 billion (vs. $1.00 billion), a 41.9% year-over-year revenue increase.
• Analysts are broadly positive—11 Buys and 1 Hold—with an average price target of $144, and institutional investors own roughly 90.05% of the stock.

Copeland Capital Management LLC lowered its stake in nVent Electric PLC (NYSE:NVT - Free Report) by 20.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 282,078 shares of the company's stock after selling 72,147 shares during the quarter. Copeland Capital Management LLC owned about 0.17% of nVent Electric worth $28,763,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in NVT. TABR Capital Management LLC bought a new stake in nVent Electric during the 4th quarter valued at approximately $3,284,000. Continuum Advisory LLC bought a new stake in nVent Electric during the 3rd quarter valued at approximately $1,630,000. Nordea Investment Management AB raised its stake in nVent Electric by 10.0% during the 3rd quarter. Nordea Investment Management AB now owns 129,655 shares of the company's stock valued at $12,671,000 after purchasing an additional 11,804 shares during the period. Pacer Advisors Inc. raised its stake in nVent Electric by 51.0% during the 3rd quarter. Pacer Advisors Inc. now owns 30,535 shares of the company's stock valued at $3,012,000 after purchasing an additional 10,307 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in nVent Electric by 173.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 52,856 shares of the company's stock valued at $5,214,000 after purchasing an additional 33,549 shares during the period. Institutional investors own 90.05% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NVT shares. Royal Bank Of Canada lifted their target price on nVent Electric from $138.00 to $143.00 and gave the company an "outperform" rating in a research note on Thursday, March 19th. UBS Group restated a "buy" rating and set a $135.00 price target on shares of nVent Electric in a report on Friday, March 13th. Citigroup raised their price target on nVent Electric from $133.00 to $152.00 and gave the company a "buy" rating in a report on Monday, April 13th. Wall Street Zen cut nVent Electric from a "strong-buy" rating to a "buy" rating in a report on Monday, February 23rd. Finally, Glj Research initiated coverage on nVent Electric in a report on Thursday, March 5th. They set a "buy" rating and a $151.00 price target for the company. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $144.00.

nVent Electric Stock Performance

NYSE NVT opened at $142.82 on Friday. The stock has a market capitalization of $23.09 billion, a PE ratio of 33.21, a P/E/G ratio of 1.45 and a beta of 1.28. The business has a 50 day simple moving average of $120.43 and a two-hundred day simple moving average of $111.18. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.63 and a quick ratio of 1.16. nVent Electric PLC has a 1-year low of $52.60 and a 1-year high of $144.11.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings results on Saturday, February 7th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.01. The business had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1 billion. nVent Electric had a return on equity of 15.18% and a net margin of 18.25%.The firm's revenue for the quarter was up 41.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 EPS. On average, research analysts predict that nVent Electric PLC will post 4.15 EPS for the current fiscal year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Friday, April 24th will be issued a $0.21 dividend. The ex-dividend date is Friday, April 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.6%. nVent Electric's payout ratio is 19.53%.

Insider Transactions at nVent Electric

In other news, Director Jerry W. Burris sold 5,244 shares of nVent Electric stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $112.27, for a total value of $588,743.88. Following the completion of the transaction, the director owned 46,371 shares in the company, valued at approximately $5,206,072.17. The trade was a 10.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan M. Cameron sold 5,000 shares of nVent Electric stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $114.52, for a total value of $572,600.00. Following the completion of the transaction, the director owned 13,405 shares of the company's stock, valued at approximately $1,535,140.60. This trade represents a 27.17% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 17,841 shares of company stock worth $2,046,166. 1.70% of the stock is currently owned by company insiders.

About nVent Electric

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company's electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.

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