nVent Electric plc (NYSE:NVT) Shares Purchased by Needham Investment Management LLC

Needham Investment Management LLC increased its stake in shares of nVent Electric plc (NYSE:NVT - Free Report) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,000 shares of the company's stock after buying an additional 7,500 shares during the quarter. Needham Investment Management LLC owned about 0.10% of nVent Electric worth $10,906,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Crews Bank & Trust purchased a new stake in nVent Electric in the fourth quarter valued at $26,000. Tsfg LLC purchased a new stake in nVent Electric in the fourth quarter valued at $51,000. Raleigh Capital Management Inc. boosted its holdings in nVent Electric by 547.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 751 shares of the company's stock valued at $51,000 after purchasing an additional 635 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in nVent Electric by 26.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 773 shares of the company's stock worth $53,000 after purchasing an additional 162 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of nVent Electric by 243.5% during the 4th quarter. Blue Trust Inc. now owns 869 shares of the company's stock worth $61,000 after buying an additional 616 shares during the period. 90.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NVT. 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. KeyCorp raised their target price on nVent Electric from $60.00 to $72.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Citigroup lowered their price target on nVent Electric from $85.00 to $59.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada increased their target price on shares of nVent Electric from $73.00 to $75.00 and gave the company an "outperform" rating in a research report on Monday, May 5th. Finally, Barclays upped their price objective on shares of nVent Electric from $65.00 to $70.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Six equities 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, the company presently has an average rating of "Buy" and a consensus target price of $70.00.

Insiders Place Their Bets

In other news, EVP Lynnette R. Heath sold 4,041 shares of the 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 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by insiders.

nVent Electric Trading Up 1.0%

Shares of NVT stock traded up $0.69 on Friday, hitting $67.54. 1,626,964 shares of the stock traded hands, compared to its average volume of 1,940,881. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.28 and a current ratio of 1.73. nVent Electric plc has a twelve month low of $41.71 and a twelve month high of $86.57. The firm's 50-day moving average price is $55.10 and its two-hundred day moving average price is $64.64. The stock has a market capitalization of $11.12 billion, a PE ratio of 34.46, 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.01. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. The business had revenue of $809.30 million during the quarter, compared to the consensus estimate of $790.74 million. During the same quarter last year, the firm earned $0.78 EPS. The business's revenue was up 10.5% compared to the same quarter last year. As a group, 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. Shareholders of record on Friday, July 18th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.18%. nVent Electric's dividend payout ratio (DPR) is presently 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.