iSAM Funds UK Ltd Makes New $363,000 Investment in nVent Electric plc (NYSE:NVT)

iSAM Funds UK Ltd purchased a new position in shares of nVent Electric plc (NYSE:NVT - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,323 shares of the company's stock, valued at approximately $363,000.

Several other hedge funds have also made changes to their positions in NVT. Pacer Advisors Inc. lifted its holdings in nVent Electric by 12.4% during the 4th quarter. Pacer Advisors Inc. now owns 55,790 shares of the company's stock worth $3,803,000 after buying an additional 6,175 shares in the last quarter. LPL Financial LLC increased 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 acquiring an additional 15,685 shares during the period. Mountain Pacific Investment Advisers LLC raised its stake in shares of nVent Electric by 14.9% in the fourth quarter. Mountain Pacific Investment Advisers LLC now owns 192,050 shares of the company's stock valued at $13,090,000 after acquiring an additional 24,900 shares in the last quarter. KBC Group NV boosted its holdings in nVent Electric by 17.5% in the fourth quarter. KBC Group NV now owns 148,870 shares of the company's stock valued at $10,147,000 after purchasing an additional 22,146 shares during the period. Finally, Haverford Trust Co grew its stake in nVent Electric by 0.8% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Barclays increased their price target on nVent Electric from $65.00 to $70.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Seaport Res Ptn raised shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a report on Friday, March 21st. Citigroup lowered their price target on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating for the company in a report on Monday, April 14th. The Goldman Sachs Group dropped their price objective 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. Finally, KeyCorp lifted their price objective 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, nVent Electric currently has an average rating of "Buy" and an average price target of $70.00.

nVent Electric Stock Up 0.8%

Shares of NYSE:NVT traded up $0.51 during trading on Friday, hitting $65.34. 1,257,107 shares of the company were exchanged, compared to its average volume of 1,939,953. The firm's 50 day moving average price is $55.86 and its 200-day moving average price is $64.53. nVent Electric plc has a 12-month low of $41.71 and a 12-month high of $86.57. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The stock has a market capitalization of $10.76 billion, a P/E ratio of 33.34, a PEG ratio of 1.48 and a beta of 1.24.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. The firm had revenue of $809.30 million for the quarter, compared to analyst estimates of $790.74 million. During the same period last year, the business earned $0.78 EPS. nVent Electric's revenue for the quarter was up 10.5% compared to the same quarter last year. On average, 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. Investors of record on Friday, July 18th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a yield of 1.22%. nVent Electric's dividend payout ratio is presently 22.86%.

Insiders Place Their Bets

In other news, EVP Lynnette R. Heath sold 4,041 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

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.