Impax Asset Management Group plc Buys 349,364 Shares of nVent Electric PLC (NYSE:NVT)

Impax Asset Management Group plc grew its stake in nVent Electric PLC (NYSE:NVT - Free Report) by 54.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 996,668 shares of the company's stock after purchasing an additional 349,364 shares during the period. Impax Asset Management Group plc owned approximately 0.61% of nVent Electric worth $51,689,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Mutual Advisors LLC lifted its stake in shares of nVent Electric by 36.9% in the 1st quarter. Mutual Advisors LLC now owns 7,196 shares of the company's stock valued at $394,000 after purchasing an additional 1,939 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in shares of nVent Electric by 42.5% in the 1st quarter. Teacher Retirement System of Texas now owns 40,683 shares of the company's stock valued at $2,133,000 after purchasing an additional 12,130 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in shares of nVent Electric by 58.0% in the 1st quarter. First Horizon Advisors Inc. now owns 817 shares of the company's stock valued at $43,000 after purchasing an additional 300 shares during the last quarter. Tsfg LLC lifted its stake in shares of nVent Electric by 113.0% in the 1st quarter. Tsfg LLC now owns 1,587 shares of the company's stock valued at $83,000 after purchasing an additional 842 shares during the last quarter. Finally, Copeland Capital Management LLC lifted its stake in shares of nVent Electric by 43.0% in the 1st quarter. Copeland Capital Management LLC now owns 564,318 shares of the company's stock valued at $29,582,000 after purchasing an additional 169,818 shares during the last quarter. 90.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada increased their price target on nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Barclays increased their price target on nVent Electric from $70.00 to $74.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. KeyCorp increased their price target on nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a 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 on the stock in a report on Monday, March 17th. Finally, Seaport Res Ptn upgraded nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $72.83.

nVent Electric Stock Down 0.5%

NYSE NVT traded down $0.40 on Monday, reaching $74.51. 1,749,111 shares of the stock traded hands, compared to its average volume of 1,958,588. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.42 and a current ratio of 2.87. The company has a fifty day moving average price of $67.10 and a 200-day moving average price of $63.05. The company has a market cap of $12.27 billion, a price-to-earnings ratio of 21.29, a PEG ratio of 1.49 and a beta of 1.31. nVent Electric PLC has a 12 month low of $41.71 and a 12 month high of $81.55.

nVent Electric (NYSE:NVT - Get Free Report) last issued its earnings results on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. The business had revenue of $809.30 million during the quarter, compared to analyst estimates of $790.74 million. nVent Electric had a return on equity of 13.54% and a net margin of 18.22%. nVent Electric's revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 EPS. As a group, research analysts forecast that nVent Electric PLC will post 3.04 EPS for the current fiscal year.

nVent Electric Dividend Announcement

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. This represents a $0.80 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Friday, July 18th. nVent Electric's payout ratio is 22.86%.

Insider Activity at nVent Electric

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