Impax Asset Management Group plc Grows Stake in nVent Electric PLC (NYSE:NVT)

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

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital A Wealth Management LLC bought a new stake in shares of nVent Electric in the 4th quarter valued at about $27,000. Park Square Financial Group LLC bought a new stake in shares of nVent Electric in the 4th quarter valued at about $38,000. Whipplewood Advisors LLC lifted its stake in shares of nVent Electric by 467.3% in the 1st quarter. Whipplewood Advisors LLC now owns 607 shares of the company's stock valued at $32,000 after acquiring an additional 500 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 acquiring an additional 300 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of nVent Electric in the 4th quarter valued at about $65,000. Institutional investors own 90.05% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Citigroup lowered their price target on nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a research report on Monday, April 14th. The Goldman Sachs Group upped their price target on nVent Electric from $78.00 to $87.00 and gave the company a "buy" rating in a research report on Monday. CL King raised nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price target for the company in a research report on Monday, March 17th. Barclays upped their price target on nVent Electric from $70.00 to $74.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. Finally, Royal Bank Of Canada upped their target price on nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a report on Monday, May 5th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $72.83.

Insider Activity at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of nVent Electric 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 sale, the executive vice president owned 32,665 shares of the company's stock, valued at approximately $2,003,997.75. This trade represents a 11.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.50% of the company's stock.

nVent Electric Stock Down 0.1%

NVT stock traded down $0.10 on Tuesday, reaching $74.41. 2,002,642 shares of the company traded hands, compared to its average volume of 1,961,775. nVent Electric PLC has a one year low of $41.71 and a one year high of $81.55. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.87 and a quick ratio of 2.42. The company has a market cap of $12.25 billion, a P/E ratio of 21.26, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. The firm has a fifty day simple moving average of $67.48 and a 200-day simple moving average of $63.13.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings data 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. nVent Electric had a return on equity of 13.54% and a net margin of 18.22%. The company had revenue of $809.30 million during the quarter, compared to analyst estimates of $790.74 million. During the same quarter last year, the company earned $0.78 EPS. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. Research analysts anticipate that nVent Electric PLC will post 3.04 earnings per share for the current year.

nVent Electric Dividend Announcement

The firm also recently announced 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 dividend yield of 1.08%. The ex-dividend date is Friday, July 18th. nVent Electric's payout ratio is 22.86%.

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.