nVent Electric PLC (NYSE:NVT) Shares Purchased by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. boosted its stake in nVent Electric PLC (NYSE:NVT - Free Report) by 8.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,704,025 shares of the company's stock after acquiring an additional 128,023 shares during the period. Johnson Investment Counsel Inc. owned about 1.04% of nVent Electric worth $89,325,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quadrant Capital Group LLC increased its stake in nVent Electric by 4.1% in the fourth quarter. Quadrant Capital Group LLC now owns 3,807 shares of the company's stock valued at $259,000 after purchasing an additional 150 shares during the period. Utah Retirement Systems increased its position in nVent Electric by 2.3% in the 4th quarter. Utah Retirement Systems now owns 8,923 shares of the company's stock valued at $608,000 after acquiring an additional 200 shares during the period. Hancock Whitney Corp raised its stake in nVent Electric by 1.4% during the 4th quarter. Hancock Whitney Corp now owns 15,031 shares of the company's stock valued at $1,025,000 after acquiring an additional 206 shares during the last quarter. Portside Wealth Group LLC raised its stake in nVent Electric by 3.2% during the 1st quarter. Portside Wealth Group LLC now owns 7,152 shares of the company's stock valued at $375,000 after acquiring an additional 219 shares during the last quarter. Finally, Keybank National Association OH lifted its position in nVent Electric by 2.5% during the 4th quarter. Keybank National Association OH now owns 9,509 shares of the company's stock worth $648,000 after acquiring an additional 229 shares during the period. 90.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at nVent Electric

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $61.35, for a total transaction of $247,915.35. Following the sale, the executive vice president now directly owns 32,665 shares of the company's stock, valued at $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. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on NVT shares. KeyCorp upped their price target on nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. The Goldman Sachs Group cut their price objective on shares of nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Citigroup lowered their target price on shares of nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Barclays boosted their price target on shares of nVent Electric from $70.00 to $74.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. Finally, Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $70.67.

nVent Electric Price Performance

NVT traded up $0.72 on Thursday, hitting $70.55. 1,269,181 shares of the company were exchanged, compared to its average volume of 1,944,723. nVent Electric PLC has a fifty-two week low of $41.71 and a fifty-two week high of $81.55. 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 firm has a market capitalization of $11.62 billion, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 1.40 and a beta of 1.30. The business's fifty day moving average is $61.48 and its 200 day moving average is $63.40.

nVent Electric (NYSE:NVT - Get Free Report) last announced its quarterly 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 analysts' expectations 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 last year, the business posted $0.78 earnings per share. As a group, sell-side analysts anticipate that nVent Electric PLC will post 3.04 EPS for the current year.

nVent Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Friday, July 18th. nVent Electric's 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.