Artemis Investment Management LLP Purchases 535,881 Shares of nVent Electric plc (NYSE:NVT)

Artemis Investment Management LLP raised its holdings in shares of nVent Electric plc (NYSE:NVT) by 235.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 763,075 shares of the company’s stock after acquiring an additional 535,881 shares during the quarter. Artemis Investment Management LLP’s holdings in nVent Electric were worth $52,011,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its stake in shares of nVent Electric by 91.9% during the 3rd quarter. Larson Financial Group LLC now owns 378 shares of the company’s stock valued at $27,000 after buying an additional 181 shares in the last quarter. UMB Bank n.a. raised its holdings in nVent Electric by 280.0% during the 3rd quarter. UMB Bank n.a. now owns 418 shares of the company’s stock valued at $29,000 after acquiring an additional 308 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of nVent Electric during the third quarter worth $29,000. Huntington National Bank boosted its holdings in shares of nVent Electric by 57.3% in the third quarter. Huntington National Bank now owns 612 shares of the company’s stock worth $43,000 after acquiring an additional 223 shares during the period. Finally, Anchor Investment Management LLC boosted its holdings in shares of nVent Electric by 94.0% in the second quarter. Anchor Investment Management LLC now owns 578 shares of the company’s stock worth $44,000 after acquiring an additional 280 shares during the period. Institutional investors own 90.05% of the company’s stock.

nVent Electric Stock Up 1.3 %

NVT stock opened at $72.36 on Friday. The company’s 50 day moving average is $73.20 and its 200 day moving average is $71.22. The stock has a market cap of $11.93 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 2.95 and a beta of 1.27. The company has a current ratio of 1.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. nVent Electric plc has a 1-year low of $55.62 and a 1-year high of $86.57.

nVent Electric (NYSE:NVT) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.18). The company had revenue of $782.00 million during the quarter, compared to the consensus estimate of $937.37 million. nVent Electric had a return on equity of 15.66% and a net margin of 16.95%. nVent Electric’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 EPS. Sell-side analysts predict that nVent Electric plc will post 2.5 EPS for the current fiscal year.

nVent Electric Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be given a dividend of $0.20 per share. This is an increase from nVent Electric’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.80 dividend on an annualized basis and a yield of 1.11%. nVent Electric’s dividend payout ratio (DPR) is presently 22.29%.

Insiders Place Their Bets

In other nVent Electric news, CAO Randolph A. Wacker sold 8,022 shares of nVent Electric stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $75.87, for a total transaction of $608,629.14. Following the transaction, the chief accounting officer now directly owns 25,993 shares of the company’s stock, valued at approximately $1,972,088.91. This trade represents a 23.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jerry W. Burris sold 6,558 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $80.00, for a total transaction of $524,640.00. Following the completion of the sale, the director now directly owns 45,040 shares of the company’s stock, valued at $3,603,200. This trade represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,382 shares of company stock valued at $7,365,956 over the last 90 days. Insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on NVT shares. Citigroup cut their target price on nVent Electric from $91.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, January 13th. KeyCorp raised their price objective on shares of nVent Electric from $80.00 to $84.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Barclays upped their target price on shares of nVent Electric from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Royal Bank of Canada raised their price target on shares of nVent Electric from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, nVent Electric presently has an average rating of “Buy” and an average price target of $86.17.

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.