Mountain Pacific Investment Advisers LLC Increases Holdings in nVent Electric plc (NYSE:NVT)

Mountain Pacific Investment Advisers LLC boosted its holdings in shares of nVent Electric plc (NYSE:NVT) by 8.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 208,188 shares of the company’s stock after purchasing an additional 16,138 shares during the period. Mountain Pacific Investment Advisers LLC’s holdings in nVent Electric were worth $10,913,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. LPL Financial LLC grew its holdings in shares of nVent Electric by 12.6% during the 4th quarter. LPL Financial LLC now owns 140,043 shares of the company’s stock worth $9,545,000 after acquiring an additional 15,685 shares during the period. Haverford Trust Co grew its holdings in shares of nVent Electric by 0.8% during the 4th quarter. Haverford Trust Co now owns 553,146 shares of the company’s stock worth $37,702,000 after acquiring an additional 4,538 shares during the period. HighTower Advisors LLC grew its holdings in shares of nVent Electric by 3.4% during the 4th quarter. HighTower Advisors LLC now owns 32,230 shares of the company’s stock worth $2,197,000 after acquiring an additional 1,052 shares during the period. American Century Companies Inc. grew its holdings in shares of nVent Electric by 20.7% during the 4th quarter. American Century Companies Inc. now owns 74,262 shares of the company’s stock worth $5,062,000 after acquiring an additional 12,759 shares during the period. Finally, Boothbay Fund Management LLC purchased a new position in shares of nVent Electric during the 4th quarter worth approximately $290,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

nVent Electric Price Performance

NYSE NVT opened at $68.11 on Monday. The business’s fifty day moving average price is $60.24 and its 200-day moving average price is $63.36. The stock has a market capitalization of $11.21 billion, a price-to-earnings ratio of 34.75, a PEG ratio of 1.48 and a beta of 1.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. nVent Electric plc has a 1-year low of $41.71 and a 1-year high of $81.55.

nVent Electric (NYSE:NVT) last released its quarterly earnings results on Friday, May 2nd. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. The firm had revenue of $809.30 million for 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 company’s revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.78 EPS. On average, equities analysts predict that nVent Electric plc will post 3.04 earnings per share for the current year.

nVent Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a yield of 1.17%. nVent Electric’s dividend payout ratio is currently 22.86%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NVT shares. CL King upgraded nVent Electric from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Monday, March 17th. Royal Bank of Canada boosted their price target on nVent Electric from $73.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, May 5th. Seaport Res Ptn raised nVent Electric from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 21st. Citigroup dropped their price target on nVent Electric from $85.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, KeyCorp boosted their price target on nVent Electric from $60.00 to $72.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $70.67.

Insider Buying and Selling

In related 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 value of $247,915.35. Following the transaction, the executive vice president now directly owns 32,665 shares of the company’s stock, valued at approximately $2,003,997.75. This trade represents a 11.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is owned by insiders.

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.