nVent Electric PLC (NYSE:NVT) Shares Bought by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. boosted its stake in shares of nVent Electric PLC (NYSE:NVT - Free Report) by 325.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,740 shares of the company's stock after buying an additional 50,295 shares during the quarter. nVent Electric accounts for approximately 0.8% of Lecap Asset Management Ltd.'s portfolio, making the stock its 15th largest holding. Lecap Asset Management Ltd.'s holdings in nVent Electric were worth $3,446,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NVT. Atria Wealth Solutions Inc. boosted its stake in shares of nVent Electric by 179.7% during the 4th quarter. Atria Wealth Solutions Inc. now owns 9,854 shares of the company's stock worth $672,000 after acquiring an additional 6,331 shares in the last quarter. Private Advisor Group LLC boosted its position in nVent Electric by 15.3% during the fourth quarter. Private Advisor Group LLC now owns 8,383 shares of the company's stock worth $571,000 after purchasing an additional 1,111 shares in the last quarter. Bank of New York Mellon Corp boosted its position in nVent Electric by 22.3% during the fourth quarter. Bank of New York Mellon Corp now owns 1,718,368 shares of the company's stock worth $117,124,000 after purchasing an additional 312,982 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in nVent Electric by 7.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 22,848 shares of the company's stock valued at $1,557,000 after purchasing an additional 1,607 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of nVent Electric in the fourth quarter valued at $3,986,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related 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 transaction, the executive vice president now owns 32,665 shares in the company, valued at approximately $2,003,997.75. This trade represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

NVT has been the topic of several recent research reports. CL King upgraded shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective on the stock in a research report on Monday, March 17th. Royal Bank Of Canada increased their target price on nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a report on Monday, May 5th. Barclays raised their price target on nVent Electric from $70.00 to $74.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. KeyCorp raised their price target on nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Finally, The Goldman Sachs Group dropped their price target on nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $70.67.

nVent Electric Price Performance

nVent Electric stock traded up $0.32 during mid-day trading on Friday, hitting $73.45. 2,046,895 shares of the company were exchanged, compared to its average volume of 1,947,707. 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 business's 50 day simple moving average is $64.56 and its two-hundred day simple moving average is $63.15. The company has a market capitalization of $12.09 billion, a P/E ratio of 20.98, a PEG ratio of 1.46 and a beta of 1.30. 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 announced its quarterly earnings data on Friday, May 2nd. The company reported $0.67 EPS 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 the consensus estimate of $790.74 million. nVent Electric had a return on equity of 13.54% and a net margin of 18.22%. The business's revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 earnings per share. Analysts forecast that nVent Electric PLC will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Friday, July 18th. nVent Electric's dividend payout ratio is currently 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.