nVent Electric plc (NYSE:NVT) Holdings Boosted by Impax Asset Management Group plc

Impax Asset Management Group plc raised its position in shares of nVent Electric plc (NYSE:NVT) by 2,764.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 647,304 shares of the company’s stock after purchasing an additional 624,703 shares during the quarter. Impax Asset Management Group plc owned 0.39% of nVent Electric worth $43,626,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Swedbank AB acquired a new stake in nVent Electric during the 3rd quarter worth about $110,663,000. Franklin Resources Inc. boosted its holdings in shares of nVent Electric by 22.1% during the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company’s stock worth $527,374,000 after purchasing an additional 1,269,335 shares during the period. Clean Energy Transition LLP boosted its holdings in shares of nVent Electric by 56.5% during the third quarter. Clean Energy Transition LLP now owns 2,254,633 shares of the company’s stock worth $158,411,000 after purchasing an additional 813,909 shares during the period. Artemis Investment Management LLP grew its position in nVent Electric by 235.9% during the fourth quarter. Artemis Investment Management LLP now owns 763,075 shares of the company’s stock valued at $52,011,000 after purchasing an additional 535,881 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in nVent Electric by 23.6% in the 3rd quarter. Janus Henderson Group PLC now owns 2,441,154 shares of the company’s stock valued at $171,492,000 after buying an additional 466,042 shares during the period. Institutional investors and hedge funds own 90.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Royal Bank of Canada upped their target price on nVent Electric from $85.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Barclays lifted their target price on shares of nVent Electric from $76.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Citigroup dropped their price target on shares of nVent Electric from $91.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $86.33.

nVent Electric Price Performance

Shares of nVent Electric stock opened at $62.64 on Monday. The firm has a fifty day moving average price of $68.84 and a two-hundred day moving average price of $70.25. nVent Electric plc has a fifty-two week low of $56.44 and a fifty-two week high of $86.57. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.73 and a quick ratio of 1.28. The company has a market cap of $10.34 billion, a PE ratio of 31.96, a price-to-earnings-growth ratio of 1.48 and a beta of 1.26.

nVent Electric (NYSE:NVT) last issued its earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, hitting the consensus estimate of $0.59. nVent Electric had a return on equity of 14.52% and a net margin of 10.09%. Analysts expect that nVent Electric plc will post 3.04 EPS for the current year.

nVent Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Friday, April 25th. nVent Electric’s dividend payout ratio (DPR) is currently 40.82%.

nVent Electric Company 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.