Figure 8 Investment Strategies LLC Makes New Investment in nVent Electric PLC (NYSE:NVT)

Figure 8 Investment Strategies LLC acquired a new stake in shares of nVent Electric PLC (NYSE:NVT - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,889 shares of the company's stock, valued at approximately $571,000.

Several other institutional investors also recently bought and sold shares of the company. Running Oak Capital LLC raised its position in nVent Electric by 32.6% during the first quarter. Running Oak Capital LLC now owns 270,203 shares of the company's stock worth $14,164,000 after acquiring an additional 66,395 shares during the period. Praxis Investment Management Inc. grew its holdings in shares of nVent Electric by 33.8% in the first quarter. Praxis Investment Management Inc. now owns 5,350 shares of the company's stock valued at $280,000 after purchasing an additional 1,350 shares in the last quarter. Johnson Investment Counsel Inc. grew its stake in shares of nVent Electric by 8.1% in the first quarter. Johnson Investment Counsel Inc. now owns 1,704,025 shares of the company's stock worth $89,325,000 after acquiring an additional 128,023 shares in the last quarter. Mountain Pacific Investment Advisers LLC grew its stake in nVent Electric by 8.4% during the 1st quarter. Mountain Pacific Investment Advisers LLC now owns 208,188 shares of the company's stock worth $10,913,000 after purchasing an additional 16,138 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew 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 buying an additional 1,591 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Activity at nVent Electric

In related news, EVP Lynnette R. Heath sold 4,041 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 32,665 shares of the company's stock, valued at approximately $2,003,997.75. This represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company's stock.

nVent Electric Stock Up 1.8%

NYSE NVT traded up $1.27 during trading on Thursday, hitting $73.27. 1,474,621 shares of the company traded hands, compared to its average volume of 1,944,676. nVent Electric PLC has a 12 month low of $41.71 and a 12 month high of $81.55. The company has a market capitalization of $12.06 billion, a P/E ratio of 20.93, a PEG ratio of 1.44 and a beta of 1.30. 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 fifty day simple moving average of $64.09 and a 200 day simple moving average of $63.16.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The company reported $0.67 earnings per share (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 in the previous year, the business posted $0.78 earnings per share. nVent Electric's quarterly revenue was up 10.5% on a year-over-year basis. As a group, sell-side analysts predict that nVent Electric PLC will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be given 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 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.