Gotham Asset Management LLC Boosts Position in nVent Electric plc (NYSE:NVT)

Gotham Asset Management LLC boosted its position in shares of nVent Electric plc (NYSE:NVT - Free Report) by 15.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 270,819 shares of the company's stock after acquiring an additional 35,921 shares during the quarter. Gotham Asset Management LLC owned about 0.16% of nVent Electric worth $18,459,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Capital Research Global Investors acquired a new stake in shares of nVent Electric in the fourth quarter valued at approximately $384,749,000. Norges Bank acquired a new position in nVent Electric during the fourth quarter worth $197,434,000. William Blair Investment Management LLC grew its stake in shares of nVent Electric by 8.8% in the fourth quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company's stock valued at $176,630,000 after buying an additional 210,690 shares in the last quarter. Principal Financial Group Inc. lifted its stake in nVent Electric by 1.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company's stock worth $123,891,000 after acquiring an additional 28,876 shares in the last quarter. Finally, Invesco Ltd. grew its position in nVent Electric by 15.0% in the 4th quarter. Invesco Ltd. now owns 1,723,868 shares of the company's stock valued at $117,499,000 after acquiring an additional 224,657 shares in the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

nVent Electric Stock Up 1.7%

Shares of NYSE:NVT traded up $1.15 during mid-day trading on Tuesday, reaching $67.69. 264,320 shares of the stock were exchanged, compared to its average volume of 1,913,756. nVent Electric plc has a one year low of $41.71 and a one year high of $86.57. The company has a market cap of $11.14 billion, a P/E ratio of 34.53, a P/E/G ratio of 1.48 and a beta of 1.24. The company has a quick ratio of 1.28, a current ratio of 1.73 and a debt-to-equity ratio of 0.65. The stock's 50 day simple moving average is $54.07 and its 200-day simple moving average is $64.76.

nVent Electric (NYSE:NVT - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. The company had revenue of $809.30 million during the quarter, compared to the consensus estimate of $790.74 million. During the same quarter in the prior year, the firm posted $0.78 earnings per share. The firm's revenue was up 10.5% compared to the same quarter last year. As a group, equities research analysts predict that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, April 25th were given a dividend of $0.20 per share. The ex-dividend date was Friday, April 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.18%. nVent Electric's dividend payout ratio (DPR) is presently 22.86%.

Insider Activity

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 transaction of $247,915.35. Following the completion of the sale, the executive vice president now owns 32,665 shares of the company's stock, valued at $2,003,997.75. This represents a 11.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.80% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on NVT shares. Citigroup cut 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. Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. KeyCorp increased their target price on shares of nVent Electric from $60.00 to $72.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Royal Bank of Canada boosted their price target on nVent Electric from $73.00 to $75.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Finally, The Goldman Sachs Group cut their price objective 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $70.00.

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.