Needham Investment Management LLC Has $10.91 Million Stake in nVent Electric plc (NYSE:NVT)

Needham Investment Management LLC grew its holdings in nVent Electric plc (NYSE:NVT - Free Report) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 160,000 shares of the company's stock after acquiring an additional 7,500 shares during the quarter. Needham Investment Management LLC owned 0.10% of nVent Electric worth $10,906,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crews Bank & Trust acquired a new stake in nVent Electric in the 4th quarter valued at approximately $26,000. Tsfg LLC acquired a new stake in nVent Electric in the 4th quarter valued at approximately $51,000. Raleigh Capital Management Inc. raised its position in nVent Electric by 547.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 751 shares of the company's stock valued at $51,000 after buying an additional 635 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in nVent Electric by 26.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company's stock valued at $53,000 after buying an additional 162 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in nVent Electric by 243.5% in the fourth quarter. Blue Trust Inc. now owns 869 shares of the company's stock valued at $61,000 after purchasing an additional 616 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Seaport Res Ptn upgraded nVent Electric from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 21st. Royal Bank of Canada raised their price target on nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a research note on Monday, May 5th. The Goldman Sachs Group decreased their price target on nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Barclays raised their price target on nVent Electric from $65.00 to $70.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Finally, CL King upgraded nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price target for the company in a research note on Monday, March 17th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $70.00.

nVent Electric Stock Performance

Shares of NVT traded up $0.69 during mid-day trading on Friday, reaching $67.54. The company's stock had a trading volume of 1,626,964 shares, compared to its average volume of 1,939,628. nVent Electric plc has a 1-year low of $41.71 and a 1-year high of $86.57. The stock has a market cap of $11.12 billion, a P/E ratio of 34.46, a PEG ratio of 1.48 and a beta of 1.24. The business has a 50-day simple moving average of $54.85 and a two-hundred day simple moving average of $64.75. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65.

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 analysts' consensus estimates of $0.66 by $0.01. The company 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 14.52% and a net margin of 10.09%. The business's revenue was up 10.5% on a year-over-year basis. During the same period last year, the firm posted $0.78 earnings per share. As a group, equities research analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

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 issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.18%. nVent Electric's payout ratio is currently 22.86%.

Insiders Place Their Bets

In other nVent Electric news, EVP Lynnette R. Heath sold 4,041 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $61.35, for a total transaction of $247,915.35. Following the transaction, the executive vice president now owns 32,665 shares in the company, valued at $2,003,997.75. This trade represents a 11.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.80% of the company's stock.

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.