nVent Electric plc (NYSE:NVT) Shares Bought by Artemis Investment Management LLP

Artemis Investment Management LLP raised its stake in shares of nVent Electric plc (NYSE:NVT) by 28.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 227,194 shares of the company’s stock after purchasing an additional 50,540 shares during the period. Artemis Investment Management LLP’s holdings in nVent Electric were worth $15,963,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Banque Cantonale Vaudoise acquired a new stake in nVent Electric in the 1st quarter worth about $26,000. ORG Partners LLC purchased a new stake in shares of nVent Electric during the second quarter worth approximately $31,000. Rise Advisors LLC purchased a new stake in shares of nVent Electric during the first quarter worth approximately $32,000. First Foundation Advisors acquired a new position in nVent Electric in the 2nd quarter valued at $34,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in nVent Electric in the 2nd quarter valued at $34,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Analysts Set New Price Targets

NVT has been the subject of a number of research reports. KeyCorp raised shares of nVent Electric from a “sector weight” rating to an “overweight” rating and set a $80.00 target price for the company in a report on Wednesday, September 4th. Barclays dropped their price objective on shares of nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada decreased their target price on shares of nVent Electric from $88.00 to $82.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $85.00.

Insiders Place Their Bets

In other news, Director Herbert K. Parker acquired 7,566 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $65.71 per share, with a total value of $497,161.86. Following the completion of the purchase, the director now owns 34,524 shares of the company’s stock, valued at $2,268,572.04. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other nVent Electric news, insider Michael B. Faulconer sold 20,004 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $63.34, for a total value of $1,267,053.36. Following the completion of the transaction, the insider now owns 19,766 shares of the company’s stock, valued at $1,251,978.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Herbert K. Parker purchased 7,566 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $65.71 per share, with a total value of $497,161.86. Following the purchase, the director now owns 34,524 shares of the company’s stock, valued at approximately $2,268,572.04. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.50% of the stock is owned by insiders.

nVent Electric Price Performance

nVent Electric stock opened at $70.66 on Wednesday. The company has a current ratio of 2.17, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average price of $66.34 and a 200 day moving average price of $73.32. nVent Electric plc has a 12-month low of $45.60 and a 12-month high of $86.57. The stock has a market cap of $11.73 billion, a P/E ratio of 20.60, a PEG ratio of 1.35 and a beta of 1.27.

nVent Electric (NYSE:NVT) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.01). The business had revenue of $880.30 million during the quarter, compared to analyst estimates of $892.89 million. nVent Electric had a net margin of 16.59% and a return on equity of 17.21%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period last year, the company earned $0.77 EPS. Sell-side analysts anticipate that nVent Electric plc will post 3.26 earnings per share for the current year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Friday, October 18th. nVent Electric’s payout ratio is 22.16%.

About nVent Electric

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.