Artemis Investment Management LLP Boosts Stake in nVent Electric plc (NYSE:NVT)

Artemis Investment Management LLP boosted its position in nVent Electric plc (NYSE:NVT - Free Report) by 235.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 763,075 shares of the company's stock after buying an additional 535,881 shares during the quarter. Artemis Investment Management LLP owned approximately 0.46% of nVent Electric worth $52,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in NVT. HB Wealth Management LLC bought a new stake in shares of nVent Electric in the 4th quarter valued at about $272,000. Carnegie Investment Counsel lifted its position in nVent Electric by 13.1% in the fourth quarter. Carnegie Investment Counsel now owns 101,835 shares of the company's stock valued at $6,941,000 after purchasing an additional 11,764 shares during the last quarter. Oak Thistle LLC bought a new position in shares of nVent Electric in the fourth quarter worth approximately $1,009,000. Tsfg LLC purchased a new position in shares of nVent Electric in the fourth quarter worth $51,000. Finally, Miracle Mile Advisors LLC bought a new stake in nVent Electric during the 4th quarter valued at $760,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on NVT shares. Royal Bank of Canada boosted their price objective on shares of nVent Electric from $80.00 to $85.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Barclays upped their price target on nVent Electric from $76.00 to $88.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Citigroup cut their price objective on nVent Electric from $91.00 to $90.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Finally, KeyCorp upped their target price on nVent Electric from $80.00 to $84.00 and gave the company an "overweight" rating in a report on Monday, October 14th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, nVent Electric presently has a consensus rating of "Buy" and an average price target of $86.17.

nVent Electric Stock Up 1.3 %

Shares of NYSE NVT traded up $0.95 during mid-day trading on Monday, hitting $72.36. 1,307,251 shares of the stock traded hands, compared to its average volume of 1,111,387. The company has a market cap of $11.93 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 2.95 and a beta of 1.27. The stock has a fifty day moving average price of $73.20 and a 200-day moving average price of $71.18. nVent Electric plc has a 52 week low of $55.62 and a 52 week high of $86.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 1.83.

nVent Electric (NYSE:NVT - Get Free Report) last announced its 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). nVent Electric had a net margin of 16.95% and a return on equity of 15.66%. The business had revenue of $782.00 million for the quarter, compared to the consensus estimate of $937.37 million. During the same quarter last year, the firm posted $0.84 EPS. The business's quarterly revenue was up 9.4% on a year-over-year basis. Research analysts anticipate that nVent Electric plc will post 2.5 EPS for the current year.

nVent Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a dividend of $0.20 per share. This is a boost 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 payout ratio is presently 22.29%.

Insiders Place Their Bets

In other news, Director Jerry W. Burris sold 6,558 shares of the stock in a transaction that occurred 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 sale, the director now owns 45,040 shares in the company, valued at $3,603,200. This represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Randolph A. Wacker sold 8,022 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.87, for a total value of $608,629.14. Following the completion of the transaction, the chief accounting officer now owns 25,993 shares of the company's stock, valued at $1,972,088.91. This represents a 23.58 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,382 shares of company stock valued at $7,365,956. 2.50% of the stock is currently owned by corporate insiders.

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.